Payments Dive

OCTOBER 25, 2023

The Federal Reserve Board proposed a rule change that would slash the amount card issuers can charge merchants for processing a debit transaction. The proposal also calls for periodic updates to the fee cap in the future.

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Payments Dive

JANUARY 23, 2024

The Federal Reserve extended the time period during which it will accept public comments on its proposal to reduce the cap on debit card fees.

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Payments Dive

SEPTEMBER 29, 2023

Supreme Court agreed to hear the petition of a North Dakota merchant group that sued over the Federal Reserve Board’s calculation of a debit fee cap.

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Payments Dive

JUNE 2, 2023

After shelving the debit account last year due to fraud issues, the card company has relaunched the service.

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Payments Dive

OCTOBER 7, 2022

Uber’s new debit card will provide drivers up to 10% cashback on gas, 12% on EV charging and instant pay after completion of a ride or delivery.

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PYMNTS

DECEMBER 29, 2020

Consumers have more heavily leaned on debit during the pandemic, with the economic downturn making shoppers more cautious than ever about the prospect of taking on credit card debt. A recent study even estimates that shoppers could ultimately shift $100 billion worth of annual spending from credit cards to debit cards.

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Payments Dive

FEBRUARY 22, 2023

The card company is betting its soon-to-be relaunched debit account services will help it better compete with fintech and neobank rivals.

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Payments Dive

APRIL 24, 2024

The card network behemoth’s latest earnings report showed a contraction in card volume growth during the first three months of the year, and into April.

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Payments Dive

FEBRUARY 16, 2023

Bank card issuers say there isn’t enough network competition to meet the July debit card routing rule deadline, adopting regulators’ argument to push back.

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Payments Dive

JULY 5, 2023

Just 40% of consumers feel confident in the security and safety of their debit cards, J.D. Power said.

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PYMNTS

JUNE 5, 2020

In disasters of the recent past there has been a marked shift away from credit toward debit. This time, the charm of options — debit or credit — has made payments preference a key factor in the success or failure of businesses as they reopen and reinvent. Merchants Fastrack Evolution.

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Payments Dive

MAY 26, 2023

Card network operators Visa, Mastercard and Fiserv are bracing for change in light of the Federal Reserve’s debit routing rule clarification.

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Payments Dive

DECEMBER 8, 2022

The card company has suspended applications for its checking and cashback debit product due to instances of fraud, its CEO said this week.

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PYMNTS

JANUARY 19, 2021

A new year has begun, but the pandemic continues to throw financial and operational curveballs at banks, businesses and their consumers regarding how they conduct daily tasks or routine payments. This includes shifts in which consumers are shopping and paying, and in the payment tools or methods they are using to finalize their transactions.

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PYMNTS

SEPTEMBER 23, 2020

PayPal and Mastercard are bringing the PayPal Business Debit Mastercard to more businesses in Europe. percent cash back on all of their eligible spending with the debit card. percent cash back on all of their eligible spending with the debit card. The companies said in a Wednesday (Sept.

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PYMNTS

OCTOBER 14, 2020

When the chips are down, consumers love and trust their debit cards. Among clear COVID-era trends is the embrace of debit for managing and mastering new realities. Debit cards remain the payment method of choice among U.S. Debit cards remain the payment method of choice among U.S. Numbers tell the tale.

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PYMNTS

JANUARY 30, 2020

Cautious shoppers may find comfort in debit, with fraud losses associated with the payment method declining over the past several years. This payment rail’s use is going strong in the United States, with debit card penetration reaching 78 percent in 2018. Around The Next-Gen Debit World. The solution is.

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PYMNTS

DECEMBER 22, 2020

Debit Wins Out. The overall cautiousness and sense of financial prudence, he said, can be seen in the fact that consumers are embracing debit transactions over credit, using cash on hand rather than choosing to build their liabilities on a credit card. I think debit ultimately wins out,” Fagan continued.

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Payments Dive

DECEMBER 17, 2019

Despite the plethora of payment choices we have today, many of us are still using our debit cards. Carol Specogna, Fiserv's VP of card services, gives an overview of the market and talks about new technologies that FIs can leverage to boost their debit card revenue.

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Payments Dive

MARCH 18, 2022

Merchant trade groups that sued the Federal Reserve Board in federal court last year over what they alleged was the central bank's failure to keep debit card fees in check had their case dismissed this week. They said they'll appeal the ruling.

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PYMNTS

APRIL 28, 2020

These shifts have made digital banking and debit transactions more important than ever. Financial institutions (FIs) are now working to extend services into customers’ homes, for example, and consumers are making fewer credit card payments amid uncertainty over what their employment statuses and budgets might be when the bills come due.

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PYMNTS

NOVEMBER 27, 2020

These kinds of concerns could encourage shoppers to change up how they make payments. Some are turning to virtual cards to keep their debit account numbers safe, providing shoppers with newly generated codes that can be restricted to work only when paying specific merchants or used just once before expiring.

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Bank Innovation

AUGUST 13, 2018

debit cards are the most popular method of payment, so it’s not surprising that many fintechs are trying to enter the debit card market. In the U.S.,

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Payments Dive

FEBRUARY 15, 2023

Banks requested a delay in implementing a debit routing rule, but a retail and merchant trade group argued it’s high time the card issuers comply.

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Bank Innovation

AUGUST 17, 2017

Mobile wallets may be all the buzz, but debit cards were still the most popular of payment method in the U.S. According to the 2017 Debit Issuer Study released earlier this week, debit card transactions were at a record high in 2016, with 23.6 in 2016, according to a recent report by PULSE. transactions per […].

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PYMNTS

JULY 28, 2020

Consumers are also changing how they pay for their purchases, with a recent study finding that debit card spend was up 11.7 Consumers today are especially likely to use their debit cards for their eCommerce purchases or to make in-store purchases with mobile wallets, and card-not-present (CNP) transactions represented 43.1

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PYMNTS

FEBRUARY 1, 2021

That gives us a hint as to what might happen with debit spending, in a trend that was well-evidenced through the latest (and ongoing) earnings season. Namely, it will continue to be a favored payment method among consumers. Increases in debit spending helped to buoy results, overall. As to where that debit spend is going: J.P.

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PYMNTS

DECEMBER 31, 2020

Debit card issuers face an ever-growing array of fraud schemes perpetrated against them and their account holders. PIN-based debit transactions are some of the most secure, but this payment method is being used less and less, with consumers instead turning to eCommerce and in-person contactless payments during the pandemic.

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PYMNTS

JANUARY 8, 2021

Roughly 8 million stimulus check Visa debit cards are being mailed to households this week, the U.S. The Economic Impact Payment (EIP) cards were issued by MetaBank, N.A. Millions of payments have already been made via direct deposit and paper checks, with the goal of quickly delivering assistance.

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PYMNTS

SEPTEMBER 14, 2020

Debt markets contract during economic downturns — a point the pandemic is proving beyond the shadow of a doubt as debit usage causes a near-total eclipse of credit in Q2 and after. Safety and convenience are twice as valuable when it’s your money (debit), and not the bank’s (credit). Touchless Debit Is Now The ‘Go To’ For Millions.

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PYMNTS

MARCH 30, 2020

The payments credit union service organization (CUSO) found that year-over-year spending for the first 21 days of the month was higher by 9 percent overall, but the travel industry saw a large 30.3 percent year over year, with debit card incremental spend coming out ahead of credit cards by 3.5 percent drop. or 25 percent.

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PYMNTS

JANUARY 23, 2020

The partnership starts with the SoFi Money debit card, an offering that will exist exclusively on the Mastercard network. The new debit program includes cash-back incentives, mobile phone insurance and airport concierge services, among other offerings.

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Payments Dive

JUNE 15, 2023

A gunman who killed three Michigan State University students in February used more than one payment method to buy guns. This coverage is part of a Payments Dive series.

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PYMNTS

APRIL 17, 2020

To reportedly help it compete with Apple Pay and the Apple Card, Google is creating its own tangible and virtual debit cards. The tech company’s debit card will have the brand of Google along with its partnered financial institution; however, it is not known what the offering’s name will be.

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PYMNTS

JANUARY 28, 2021

One of the more notable differences is their tendency to favor credit cards online and other options such as digital wallets over debit cards. PYMNTS’ latest research report, Online Security And The Debit-Credit Divide , a PYMNTS collaboration with Elan based on a survey of 2,466 U.S.

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PYMNTS

MAY 19, 2020

In today’s top news, Amazon could be in talks to buy JCPenney, and 4 million stimulus payments will be sent to consumers via Visa prepaid debit cards. Treasury: 4 Million Stimulus Payments To Be Sent Via Visa Prepaid Debit Card. Igloo On Payments As A Strategy, Not Just A Way To Pay. Amazon Eyes JCPenney Buy.

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Bank Innovation

APRIL 23, 2018

Payments fintech PayPal will be expanding its in-store payment offerings this year, now offering users the ability to deposit money onto a prepaid debit card or use their service via a partnership with Samsung Pay, it was reported today, and as the Wall Street Journal noted earlier this month.

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