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FTC Refunds $12M To Consumer Victims Of Bogus Online Trial Memberships

PYMNTS

The FTC alleged the Utah-based company operated deceptive trial memberships and bogus government grant and money-making schemes in 2010. A federal jury in Utah convicted Johnson and Ryan Riddle of making false statements to a bank on multiple I Works merchant account applications. will receive their refunds via PayPal.

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Square Partners With POWDR To Offer Ski Resorts Contactless Transactions

PYMNTS

“POWDR chose to partner with Square because they help elevate the guest experience from enabling fast, secure, contactless payments to integrated online-ordering solutions,” Justin Sibley , co-president of POWDR, said in the release. Bachelor, Oregon; Woodward Park City, Utah; and SilverStar in British Columbia, Canada.

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Capitol Hill Hearing Examines ‘Rent-A-Bank’ Schemes To Sidestep Interest Rate Caps

PYMNTS

In terms of general practice, lenders, including those that operate online, must partner with chartered banks.). She offered a list of other firms engaged in similar practices, such as LoanMart, where auto title loan rates range from 60 percent to 222 percent, and where bank sponsors are based in Utah.

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N26: Cloud-Banking Core Key To Meeting Consumers’ Mobile Banking Needs

PYMNTS

Financial institutions (FIs) worked quickly to ensure they could operate smoothly as the pandemic kept consumers at home and closed brick-and-mortar branches in Europe, the United Kingdom and the United States. Spanish bank CaixaBank is another FI looking to upgrade its online banking platform through the use of cloud-based technologies.

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Today In Payments: Study Shows Americans’ Savings Drying Up; State AGs To Press Own Case Against Google

PYMNTS

The states leading the probe include Arizona, Colorado, Iowa, Nebraska, New York, North Carolina, Tennessee and Utah. billion in sales during Prime Day on Amazon’s online marketplace, as eCommerce activity surges in the wake of the coronavirus pandemic, the tech giant reported. Third-party sellers generated over $3.5

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Stripe Teardown: How The $35B Payments Company Plans To Supercharge Online Retail

CB Insights

As businesses and consumers become more comfortable using credit cards online, the proportion of US commerce that takes place online has steadily increased over the last 20 years. Specifically, the Collisons aimed to more seamlessly connect online businesses and payment processors, allowing more businesses to accept online payments.

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Today In Payments: COVID-19 Triggers Job Losses; JPMC First Big Bank To Shutter Branches As Virus Spreads

PYMNTS

Also, Square won a banking license for an industrial bank in Utah. The Federal Deposit Insurance Corporation (FDIC) granted Square a banking license to operate a de novo industrial bank in Salt Lake City. In today’s top news, due to the coronavirus, over 3,600 workers have lost their jobs and JPMC has temporarily closed 1,000 branches.

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