The Latest
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Dollar General to eliminate ‘vast majority’ of self-checkout
The store chain has already removed self-checkouts from 12,000 of its more than 20,000 stores, the CEO said.
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Are digital wallets safer than debit cards?
Research shows young people see digital wallets as a more secure option than debit and credit cards. Cybersecurity professionals mostly agree, despite caveats.
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Zelle faces Senate probe on fraud
“The scale of fraud on the Zelle platform is unacceptably high,” National Consumers League Vice President John Breyault said.
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Mastercard floats crypto credential service
The card issuer joins its tech and payments peers in integrating crypto into the traditional financial system.
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Investments for payments startups trickle in
Venture capital flowing to startups in the payments sphere remains reduced this year, extending a rut from last year.
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Klarna uses AI to cut marketing costs
The Stockholm-based buy now, pay later company said more than a third of its first-quarter savings on sales and marketing expense was attributable to artificial intelligence.
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Opinion
CFPB seeks to thwart cross-border junk fees. Now what?
“Putting these regulations into practice is challenging, and the success of such regulatory measures largely hinges on enforcement,” writes a Wise executive.
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DailyPay CEO exits for another top job
Kevin Coop left the earned wage access provider for a healthcare market research firm, with Stacy Greiner appointed CEO on an interim basis.
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Debit cards face rising digital wallet competition
Roughly 72% of consumers say they swipe, dip or tap a debit card at the point of sale, a larger portion than credit cards, checks and digital wallets, according to a consumer survey by research firm J.D. Power.
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Visa preps for US pay-by-bank services
The card network is focused on “stubborn categories” where large account-to-account payments have taken hold, such as in healthcare, education and rent, a Visa executive said.
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PayPal pursues ad platform tied to data
The new offering by the digital payments pioneer will be led by Mark Grether, who helped grow Uber Advertising into a $1 billion business.
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Paze targets nationwide coverage by year-end shopping season
The big bank-backed digital wallet is now accepted by about 80,000 "primarily small" merchants according to Early Warning Services Managing Director James Anderson.
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Walmart and Capital One break up
The retail behemoth and its credit card issuer said in a terse, joint press release Friday that they’re parting ways.
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Cash App aims to add more features
Block’s Jack Dorsey wants to improve Cash App’s customer service experience in order to entice more users to make it their primary bank, he said this week.
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Businesses boost use of digital wallets: Fed
Business use of digital wallets rose last year more than their use of many other forms of payment, according to a survey commissioned by the Federal Reserve’s financial services unit.
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South Carolina embraces new EWA law
This week, South Carolina became the fifth state to enact a law regulating earned wage access providers, but it doesn’t subject them to lending laws.
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Opinion
Let’s avoid legal patchwork for credit card surcharging
“All parties in the payments ecosystem would benefit greatly from state laws that provide clarity and consistency between jurisdictions,” write two legal professionals.
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Deep Dive
Real-time lessons for FedNow from Brazil, India
The fledgling U.S. instant payments system can learn from real-time systems that have flourished in Brazil and India using QR codes and broad missions, say industry professionals.
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CFPB to treat BNPL loans like credit cards
“Whether a shopper swipes a credit card or uses Buy Now, Pay Later, they are entitled to important consumer protections under longstanding laws and regulations,” CFPB Director Rohit Chopra said.
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Google Pay adds card reward details to checkout
American Express and Capital One cardholders can now see what rewards they would earn from purchases when checking out with Google Pay, the tech giant said in a blog post.
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Mastercard CEO outlines int’l ambitions
Mastercard has set its sights on expanding in China, Japan and elsewhere, Michael Miebach said in spelling out the company’s worldview. Last year, the company drew two-thirds of revenue from outside North America.
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Fed plays crucial role in payments standard-setting
Federal Reserve Governor Christopher Waller last week underscored the central bank’s role for setting standards in the rapidly evolving payments arena.
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Sorry Cash App, Gen Z still wants bank branches
Young consumers are open to using the peer-to-peer payments app as their primary bank, but many say they won’t switch because they value having a physical branch.
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How retailers are seeking to improve self-checkout
Executives from Mashgin, Invenco and other firms recently discussed issues they face in using kiosks for self-checkout, and how retailers can address them.
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Central banks seek firms for cross-border payment project
The Bank for International Settlements is seeking private sector participation in a smart-contract project designed by seven central banks to improve cross-border payments.