After Farmers & Merchants State Bank switched its internet domain from dot-com to dot-bank, the Archbold, Ohio-based bank received a handful of calls from customers wondering where its website had gone. The $1 billion-asset bank also noted some assumed when a sentence ended “.bank.” in its promotional materials, the last period was part of the…
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Equifax Inc.’s massive data breach is proving costly. Extra spending on security and lawyers in the wake of the hacking helped push third-quarter operating expenses to the highest on record, the Atlanta-based company said Thursday in a statement. The company also said it’s facing more than 240 class-action lawsuits and more than 60 regulatory or…
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Over the years, Square has evolved from a supplier of simple card readers to a provider of diverse omnichannel services. But the consumer market has always eluded it. Starting in 2011, Square debuted Card Case, which allowed consumers to store a credit or debit card with Square after using it at a Square merchant. The…
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2020. What once seemed like a far-off and futuristic date is just around the corner. Even if 2020 doesn’t deliver on the space travel and intelligent robots promised in science fiction, we can be confident that Americans will at least have access to new payments systems that are suited to the modern digital economy. 2020…
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Apple Inc. is nearing the rollout of Apple Pay Cash with the person-to-person payments service’s debut today as a public beta test, five months after the initial announcement. Apple Pay Cash now appears as an option within the Messages app for newer iPhones and Apple Watches in the latest beta version of iOS, enabling users…
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The fintech startup Douugh, which has built an artificial intelligence engine designed to help consumers regain financial health, and Choice Financial, a community bank based in Fargo, N.D., are teaming up to create a new digital bank account and debit card. The two firms will jointly launch a checking account and debit card with Douugh’s…
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I started on Wall Street in 1980 as an investment banker in Lehman Brothers’ natural resources group. With very few women in financial services at the time, I was often asked, “How long do you think you’re going to stay at this?” It wasn’t a question of if I’d leave, but when. Back then, many…
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With the latest tax reform bill proposed by the GOP, this week’s essential banking news looks into the potential ramifications.
The information you need to start your day, from PaymentsSource and around the Web: Western Union scores in digital: Western Union has made several moves to ramp up its technology game in the face face of fintech rivals, adding support for mobile payments through Apple Pay and embracing messenger bots in the past year. It’s…
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Mastercard’s enhanced security strategy is getting a personnel boost through the addition of CIA veteran Jeanne Tisinger as a senior adviser for cybersecurity. In her new position Tisinger will help Mastercard implement and expand its security strategy and public policy initiatives, the company said Friday. “People shouldn’t have to choose between convenience and security,” Ajay…
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