The Latest
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Illinois heads toward landmark card interchange fee restrictions
The state may become the first in the nation to outlaw the imposition of credit and debit card interchange fees on state excise tax and tips.
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Sponsored by Adyen
How machine learning protects merchants from digital payment fraud
Fraud is always a problem companies want to tackle. But in the current business environment, it has become an even greater priority.
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Affirm adds new options in bid to battle cards
The buy now, pay later provider now offers two 30-day payment plans; one that allows for full payment and another that splits a purchase in two, in addition to its “pay in four” offering.
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CFPB finalizes open banking standard-setter rule
The bureau will consult public interest groups and app developers on open banking standards, and no single special interest can dominate the standards-making process.
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New York races to pass BNPL bill
State lawmakers are negotiating three separate proposals related to the buy now, pay later industry ahead of the end of the legislative session on Thursday.
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Amex dismisses impact of eBay’s rejection
EBay will no longer accept American Express, but the credit card company said in a statement that the online auctioneer accounts for a minuscule portion of its total business.
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Waystar envisions $20B healthcare payments market
The software provider offered its outlook as it seeks to take the company public and expand its business.
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Pot payments players crave federal reforms
The Safer Banking Act and federal rescheduling of marijuana could simplify transactions for payments companies doing business in the arena.
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Early Warning launches campaign to warn seniors
The parent to payments service Zelle aims to inform seniors about scams as it faces congressional scrutiny over its fraud reimbursement practices.
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Top JPMorgan payments executive exits
Takis Georgakopoulos, a 17-year veteran at the bank, will be replaced by two colleagues being promoted to co-head roles.
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FTC delves into scam payments
In consumer fraud complaints to the federal agency last year, PayPal and Cash App were cited as apps often used by consumers to pay scammers.
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Cash App exec hints at Square integration
Block is working to make its peer-to-peer payments tool, Cash App, a consumer app for interacting with merchants using its Square point-of-sale software.
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Q&A
Consumers, businesses diverge in payment trends
Consumer payments are becoming more embedded, and commercial payments are slowly moving away from checks, says a top payments executive at Accenture.
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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.