Merchant

Tap to Pay on iPhone turns any of the tech giant's recent smartphones into a card reader, but since Apple doesn't provide its own merchant services, it stops short of becoming a direct threat to acquirers and payment facilitators.

On Sep. 30, 2021. Dollars in thousands.

The Indiana bank announced a five-year, $8.3 billion agreement with the National Community Reinvestment Coalition in connection with its acquisition of First Midwest Bancorp. The Federal Reserve approved the purchase last month.

Working with Bumped, TAB Bank is offering customers “cash back” as fractional shares of popular retailers.

Wages, marketing spending and technology investments are all on the rise. While higher interest rates should eventually help tame inflation, it's not clear how quickly banks will be able to limit their spending increases.

The move could impact payments providers that rely on Apple’s iPhones to facilitate sales, such as Block’s Square, which dominates the market.

JPMorgan Chase's recent purchase of a stake in the Greek fintech will allow the U.S. company to offer new services like merchant credit in Europe, where it is No. 5 among merchant acquirers.

Acquiring the earned-wage-access firm and challenger bank would further efforts by the retailer and its partners to develop a "super app" featuring mobile financial tools.

The buy now/pay later craze already has retailers demanding lower fees, according to Klarna.

The Pennsylvania bank is working with the data provider Enigma and Capital One on a platform they are hoping other banks will use. The technology handles all aspects of the loans and provides data and analytics on borrowers.