Bank of America will pay hourly workers at least $24 per hour — a big jump from early 2019, when it paid $15 per hour. It has launched a series of pay raises as the industry struggles to fill ...

One of the most notable is speed; in the UK, Australia, and parts of Europe, Pay by Bank is settled almost instantly, compared to the 1-2 days typically required for card payments.

A test this past September of a real-time pay by bank payments option inside the Walmart app indicates the service is on track for a broader debut in 2025, Digital Transactions News has learned.

Pay by bank allows customers to pay directly through their bank account, using their login credentials – often including biometrics such as fingerprint or facial recognition - to verify a payment.

For pay by bank to become mainstream, at least one group (merchants, banks or consumers) needs to strongly advocate for it and have a unified voice to drive change.

After making it through a regional banking crisis, economic uncertainty and the residual effects of rapidly rising interest rates, 2024 was a good year to be a bank CEO. Nearly all chief executives ...

For bank CEOs last year, the pay raises were bigger at the smaller institutions. In 2024, chief executives at banks with between $10 billion and $50 billion of assets got an average pay bump of 24.1%, ...

Pay by Bank payments within the European Union are expected to reach 30 billion in 2028 [1], and Germany and France - Europe’s largest economies - will be a key driver of this growth.