Roughly seven out of every 10 adults worldwide now have some form of bank account, the World Bank said Thursday, largely due to the proliferation of cell phone-based bank accounts and other simple bank account programs in places like India and Sub-Saharan Africa. The finding is a sign of the improved financial wellbeing of those…
Visa Discloses Stake in Dorsey’s Company, Square
NEW YORK (AP) — Shares in the mobile payment services company Square rose sharply Friday afterVisa disclosed the details of its ownership stake in the company. While Visa’s stake amounts to about 1 percent of the company, and the stake was established at least 5 years ago, investors interpreted the announcement as a major endorsement of Square by Visa, the world’s largest payment processing company. According to a regulatory filing, Visa owns 4.2 million of Square’s Class…
Chase Planning Rollout of Card-Free ATMs
NEW YORK (AP) — Soon, losing your ATM card won’t be the financial life-stopping event it used to be. Just don’t also lose your phone. JPMorgan Chase customers will soon be able to withdraw cash or initiate other transactions using their cellphone at Chase ATMs being upgraded later this year. The move will include new…
Senator Calls For Experian to Share Details on Data Breach
NEW YORK (AP) — The top Democrat on the Senate Banking Committee is calling for the credit agency Experian to disclose more details about a data breach in which personal information on millions of T-Mobile customers was stolen. In a letter obtained by The Associated Press, Ohio Senator Sherrod Brown asks Experian to explain how the…