The Latest
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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.
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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.