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CFPB attacks credit card late fees

Payments Dive

The Consumer Financial Protection Bureau proposed a new rule that would effectively cap credit card late fees and potentially save Americans $9 billion

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Credit card debt surpasses pre-pandemic levels: Fed

Payments Dive

Despite a pause in payments required for federal student loans, younger borrowers particularly are showing higher credit card delinquencies

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Demand for credit cards climbed this year

Payments Dive

Consumer demand for credit cards rose this year over prior years, and card issuers increasingly approved their applications despite the worsening economic climate

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Durbin maps path for card bill

Payments Dive

Roger Marshall, seek to attach their credit card competition legislation to a defense spending bill Dick Durbin and his Republican ally, Sen.

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The Importance of PCI Compliance and Data Ownership When Issuing Payment Cards

This eBook provides a practical explanation of the different PCI compliance approaches that payment card issuers can adopt, as well as the importance of both protecting user PII and gaining ownership and portability of their sensitive data.

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Gun merchant code approved for card purchases

Payments Dive

An international standards body approved a new merchant code that will apply to gun sellers for transactions using credit card networks like Visa and Mastercard

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Walmart shooter likely used card to buy gun

Payments Dive

The gunman in a 2019 attack at an El Paso Walmart store likely used a credit card to buy his gun online. This story is one in a series of pieces tracking payment methods for guns used in mass shootings

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Holiday shoppers boost card use this year

Payments Dive

Families of all income levels plan to increase holiday spending this year, and they expect to rely more heavily on credit cards for their purchases

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Grubhub launches corporate pay card

Payments Dive

Employers with a Grubhub Corporate Account can set parameters on when workers can use the pay card or choose to give them a daily or weekly credit to use when ordering from partner restaurants on the delivery marketplace

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Durbin to reintroduce credit card competition bill

Payments Dive

The Democrat’s bill takes aim at the Visa-Mastercard duopoly, but faces an uphill battle for passage in a House controlled by Republicans

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Card amendment misses defense funding bill

Payments Dive

Dick Durbin wasn’t able to attach the Credit Card Competition Act proposal to a defense funding bill this week, but he will try again next month

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Chip shortage drives up card costs

Payments Dive

Russia's invasion of Ukraine is affecting card chip prices because Ukraine is home to two companies that produce half of the world’s neon supply, a key ingredient in chips

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Credit card alternatives rise

Payments Dive

Consumers are pulling back on use of their primary credit cards in favor of other payment methods, according to a survey from J.D. Power

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Corporate Card Innovators Dive Into Virtualization

PYMNTS

As FinTechs and other financial service providers drive commercial card adoption, virtual card technology becomes an increasingly popular focus of innovation initiatives, particularly as corporates demand solutions to support a remote workforce.

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CFPB warns card issuers on credit reports

Payments Dive

The Consumer Financial Protection Bureau has threatened action over card issuers not reporting full consumer payment data for tracking credit histories

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Democrats slam card CEOs over gun code

Payments Dive

A group of attorneys general took card company CEOs to task for pulling an about-face on implementing the gun merchant category code

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DailyPay releases card with Visa

Payments Dive

The earned wage access provider introduced the new debit card after major changes in leadership earlier this year

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Fed delivers mixed credit card data

Payments Dive

While first-quarter consumer credit card debt rose relative to the same period last year, it dropped compared to the fourth quarter. Meanwhile, consumers' outlook on the availability of credit deteriorated

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How does Gen Z feel about credit cards? It's complicated.

Payments Dive

As they turn toward credit cards, industry analysts say these consumers are likely to keep card companies on their toes Each generation has approached credit differently; Gen Z is no exception.

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Durbin proposes card fee reforms, not legislation

Payments Dive

Dick Durbin pushed for a handful of reforms of credit card fee practices at Wednesday's Senate Judiciary Committee hearing on "excessive swipe fees," but didn't offer plans for new legislation.

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CFPB's Chopra blasts potential card hikes

Payments Dive

In a rare TV appearance, the director of the Consumer Financial Protection Bureau said that the payments industry isn't competitive enough and that fee hikes by the big card companies would add "insult to injury" at a time of inflation.

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Tipalti introduces new card

Payments Dive

last year, the company this year is targeting more growth with a new card, a newly promoted president and 100 more employees After entering the U.K.

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Card Competition Act skids toward 2023

Payments Dive

With the bill unlikely to be passed by Congress this week, supporters of the Credit Card Competition Act are turning their attention to next year

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Plastiq sees inflation boosting B2B card payment use

Payments Dive

As companies grapple with inflation and supply chain snarls, the business payments firm says it’s targeting those that need credit cards for workflow capital

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Uber adds debit card, instant deposit for drivers

Payments Dive

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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Getting in contact with contact-less cards

Payments Dive

The world of payments is changing and what was once a preferred way to pay, with a debit or credit card, is being overtaken by the contactless and card-not-present methods.

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Card companies urged to code gun sellers

Payments Dive

Calls from government officials urging Visa, Mastercard and American Express to support creating a merchant category code for gun sellers are growing louder

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Restaurant gift card sales dip

Payments Dive

Restaurant gift card sales for the first half of this year were down about 2% over the period last year, according to foodservice industry software provider Paytronix

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Card industry’s fraud-fighting efforts pay off: Nilson Report

Payments Dive

Industry efforts to fight card fraud are making an impact, with transactional losses per $100 trending downward, according to the Nilson Report

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Card … short for Cardbored

Chris Skinner

I’ve been finding it increasingly frustrating on my travels, thanks to one of my credit card companies. My travelling depends on two credit cards: a bank issued corporate MasterCard and American Express. The reason I carry these two is that the MasterCard works across Europe, where quite a few countries … The post Card … short for Cardbored appeared first on Chris Skinner's blog.

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Debit's on a Roll. Are Small Merchants Getting Rocked?

Payments Source

Compliance Debit cards DoJ VisaThe Justice Department's probe of Visa highlights whether merchants are properly equipped to adapt to the cost of debit spending as more commerce goes digital. ]].

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Apple Card Users Can Now Make Online Card Payments

PYMNTS

With a new website Apple has launched, Apple Card holders will be able to check balances and do business online, the company said, according to MacRumors. The site, card.apple.com , allows users to sign in and see their balance, their next payment due date and the total limit of their card.

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Coupa, American Express Team On Virtual Cards

PYMNTS

American Express is working with Coupa on a new partnership to use virtual cards for Coupa's B2B solution, a press release says. The move toward virtual cards comes with a rising demand for work-from-home solutions, more popular now during the pandemic.

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Credit card interest rates reach record

Payments Dive

With the Federal Reserve pushing up interest rates to calm inflation, the average credit card interest rate is climbing, too, reaching a two-decade-plus record in August

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House lawmakers add credit card competition bill

Payments Dive

Members of Congress on Monday introduced the House companion to a Senate bill seeking to rein in the Visa-Mastercard credit network “duopoly &rdquo

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