The Latest
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Senate official blocks CFPB defunding in Trump’s megabill
Measures to defund the Consumer Financial Protection Bureau and to reduce salaries at the Federal Reserve are outside the limits of Senate reconciliation procedures, the chamber’s parliamentarian ruled Thursday.
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JPMorgan, Amex flash new cards
Both companies teased premium card refreshes in the past two weeks, reflecting the race for high-end card holders.
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Tensec raises $12M to boost growth
Meanwhile, other cross-border payment firms have raised millions in recent weeks to bolster their international expansion.
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OpinionDon’t make Americans pay to pass financial data
“Pausing or gutting Rule 1033 wouldn’t just stall innovation,” writes one industry executive who has international perspective. “It would send a message that the system works best when it’s closed.”
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Permission granted by Fiserv
Amex, Fiserv cite inflation benefit
“Modest” price increases benefit card and payment companies as long as the economy doesn’t trip into a recession, executives say.
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Payoneer CEO sees trade bumps as short-term
Entrepreneurs will adapt rapidly amid the global trade disruption, and geographic reach is key to B2B cross-border payments, CEO John Caplan says.
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Ramp raises $200M
The maker of software to oversee corporate spending and procurement is now valued at $16 billion with its latest capital raise.
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Federal Reserve targets fraud
Federal agencies took aim at payments fraud Monday, proposing more collaboration, including with states, to combat the rising problem, especially with respect to paper checks.
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Cantaloupe scooped up for $848M
The self-checkout kiosk company was purchased by 365 Retail Markets, a firm focused on self-service technology and backed by private equity firm Providence Equity Partners.
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Permission granted by MoneyGram
MoneyGram settles NY AG lawsuit
The money transmitter will pay a $250,000 civil fine to resolve claims it violated consumer laws with its remittances practices.
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Illinois delays interchange fee law
Gov. JB Pritzker has signed a bill that delays implementation of a controversial new law that would bar interchange fees on taxes and tips in Illinois.
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Deep DiveOpen banking to survive Trump, fintechs say
Consumers and financial services firms will pursue their mutual interests in sharing personal data, despite a move by the Consumer Financial Protection Bureau to extinguish the trend, industry experts contend.
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ColumnCredit card bill crusade persists
Sens. Dick Durbin and Roger Marshall may have lost their latest bid to win a congressional vote on the Credit Card Competition Act, via stablecoin legislation, but proponents are undeterred.
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CFPB, consumer groups clash over BNPL
The battle over buy now, pay later — whether it’s helpful or hurtful to users — persists even after the Consumer Financial Protection Bureau last month withdrew its rule regulating such services.
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NY legislature backs bill to protect cash
The state’s two chambers voted in favor of a bill that requires New York retailers to accept cash, following a trend set by other states and cities.
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Tapcheck embeds EWA in payroll
Recent integrations with HR management platforms position the Texas earned wage access startup for growth.
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Andrew Harnik via Getty Images
Senators push payments fraud task force
A proposed bipartisan bill would bring together regulators and law enforcement to formulate measures aimed at reducing payment scams.
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Lynne Marek/Payments Dive
Adyen opts for build over buy
The Dutch payments processor eschews acquisitions in favor of building its own systems to drive growth, including in the U.S. market.
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Drivers seek digital payment options
Digital payments are on the rise, but toll road payments are lagging behind.
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Payoneer CFO sees stablecoin hurdles
The “last mile” infrastructure for stablecoin payment rails carries some challenges for the industry to resolve, Payoneer’s Bea Ordonez says.
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Visa, Mastercard race to agentic AI commerce
The two top U.S. card networks are speeding to develop payments services that will enable bot-based buying, with digital rival PayPal also making a play.
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Sezzle sues Shopify in BNPL battle
The buy now, pay later provider says Shopify violated antitrust laws when it sought to dominate BNPL transactions on its merchants’ platform.
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Courtesy of Affirm
Affirm boasts 2 million debit cards
The number of such cards the buy now, pay later provider has now made available is an increase of about 600,000 cards since January.
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Permission granted by Fiserv
Fiserv CEO embraces stablecoins
The processor is developing an infrastructure that would let its merchant customers make use of the digital assets, Mike Lyons said.
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Q&AFTA CEO says open banking central to fintechs’ work
The leader of the Financial Technology Association sees a federal court battle over the Consumer Financial Protection Bureau rule as critical to innovation.
