Chase Rewards Program Axes Checks, Encouraging Statement Credits
The paper check has received another death knell, as it is being eliminated as a redemption option in JPMorgan Chase's Ultimate Rewards Program as the issuer encourages more consumers to request statement credits instead.
Manning Field, director of marketing and innovation for Ultimate Rewards, JPMorgan Chase
  more »
Image: Bloomberg News
Square Inc. has received an investment from Victory Park Capital that it says will allow the company to significantly expand its Square Capital business financing program. more »
Steve Pedersen, head of North American corporate credit card products at BMO Financial Group.
Even if it pushes the bank past the October 2015 deadline for EMV-chip card adoption, BMO plans to stick with its magnetic-stripe cards until each one reaches its natural expiration date. more »
Image: ShutterStock
Fleet card provider FleetCor's planning a major push into B2B electronic payments, and hopes to get a substantial boost from its planned $3.45 billion acquisition of Comdata. more »
Fair Isaac Co. revealed Thursday that its revamped credit score model will not weigh medical debt as heavily as previous versions, a key change given that medical debt accounts for nearly half of all unpaid collections on consumers' credit reports. more »
Image: Thinkstock
Metrobank Card Corp. in the Philippines has signed an agreement to license the latest version of Total System Services' (TSYS) payment processing platform. more »
Melissa Smith, President and CEO, WEX
WEX Inc. is working to finalize several key acquisitions to bring the corporate payments provider into new markets. more »
Image: Bloomberg News
The Justice Department's legal case against American Express will not benefit consumers and will weaken competition, said Jeff Campbell, executive vice president and CFO of American Express. more »
Image: Bloomberg News
BJ's Wholesale Club is planning to convert its co-branded credit card program to chip-enabled MasterCards. more »
Image: Bloomberg News
David Nelms, CEO, Discover
The credit card issuer is looking to build its campus business at a time when other banks' relationships with college and universities are facing regulatory threats. more »
Image: Bloomberg News
Discover Financial Services reported a rise in quarterly profits on strong growth in its loan portfolio. more »
Melissa Smith, President and CEO, WEX
WEX, a corporate payments company, has closed its acquisition of Evolution1, a Fargo-based firm that produces software to manage health care transactions. more »
Affirm's payment confirmation screen
Affirm, which launched in early 2013 with a product that resembles a digital version of a charge card, is making its payment schedules more flexible in an effort to attract more merchants and consumers. more »

Email Newsletters

Get the Payments Update and the Morning Scan when you sign up for a free trial.

Already a subscriber? Log in here
Please note you must now log in with your email address and password.