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Durbin interchange battles resurface

CFPB Monitor

The Durbin Amendment (Section 1075 of Dodd-Frank) authorized the Fed to issue regulations to ensure that the amount of any interchange fee received by a large debit card issuer (one with at least $10 billion of assets, together with its affiliates) is reasonable and proportional to the cost incurred by the issuer. New Lawsuit.

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Young Consumers Love to “Buy Now, Pay Later” – Here’s What to Know About the Explosive Fintech Trend

Perficient

Afterpay does not perform a hard credit check on users, but it can still affect credit if users have a credit card as the form of payment connected to their Afterpay account or if they fail to pay back their loans. Notable merchant partners include Best Buy, Home Depot, and Target. According to Kristen E.

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Grocery Roundup: New Amazon Fresh Store, SpartanNash Puts Incentives In ‘Fast Lane,' Walmart On Autonomous Delivery

PYMNTS

It’s been a busy time in the grocery world this week, with digital innovation at the core of the headlines in the industry. As it stands, 69 SpartanNash stores in Wisconsin, South Dakota, North Dakota, Nebraska, Minnesota and Michigan provide the Fast Lane offering.

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The 2022 GonzoBanker Awards

Gonzobanker

As if that wasn’t enough, regulators took a sledgehammer to debit fee income with Reg II changes that will begin reducing card-not-present interchange fees starting in July 2023. Acronym of the Year – CCCA (Credit Card Competition Act). Let’s see how this new scale allows for big investments in future innovation.

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June’s Top 12 Mobile Pay Moments

PYMNTS

While Apple Pay also recently launched in Singapore, Samsung Pay joins the region with its signature niche: the MST tech that makes Samsung Pay usable at virtually anywhere merchant credit cards are accepted. “Innovation and convenience are driving usage of alternative products and services like online and mobile payments.

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Sizzle Or Fizzle: Facebook, Online Lending, Cash – And The Twilio Surge

PYMNTS

This week it was Minnesota, and then yesterday Walmart really got warmed up and announced the expansion of their new payments service in: Michigan, Virginia, the Carolinas, Indiana, Iowa, Kentucky, Nebraska, North Dakota, South Dakota, Tennessee, Louisiana, Missouri, Mississippi and Washington, D.C. Costco Card.

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