The Latest
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Doxo to pay $2.1M settlement
The online bill-pay company agreed to settle a case brought by the Federal Trade Commission over deceptive ads and undisclosed fees.
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Western Union navigates challenges
The company is dealing with turmoil from the shift to digital money transfers as it seeks regulatory approvals for a $500 million deal for rival Intermex.
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Citi scoops up card rewards firm
The New York startup Kard has technology, talent and merchant ties that the bank expects will strengthen a loyalty strategy for its consumer cards business.
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Credit card strain rises: study
As consumers spend more on their credit cards, some cardholders are carrying hefty balances, a J.D. Power analysis found.
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Opinion
How state payments oversight skids
“In the absence of a federal consumer privacy framework, both consumers and businesses are paying the price,” one company founder writes.
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Sezzle pivots to national bank charter
With states imposing tighter rules on buy now, pay later companies, Sezzle CEO Charlie Youakim views a federal charter as “the most robust solution.”
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Cash lags credit, debit payments
Though most consumers prefer debit and credit card payments, 90% say they’ll still use cash for the foreseeable future, a Fed survey finds.
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Fiserv seeks investor lawsuit dismissal
Shareholders angry over the stock’s decline are alleging fraud with a complaint that has no merit, the payment processor said in its response.
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Q&A
States lean in on payments plays
States are taking a larger role to regulate emerging payments offerings, like earned wage access and buy now, pay later. How will that unfold? Here is the perspective of one lawyer who worked for California state government.
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Senate passes cash-rounding bill
If enacted, the new law would provide a federal framework for how to round cash retail transactions as pennies grow scarce.
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Shift4 racked by Iran turmoil
The payments processor sees a large opportunity to expand merchant services sales within its Global Blue retail network, CEO Taylor Lauber said.
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Visa debit case turns on market definition, lawyers say
The card network will argue that the DOJ’s view of the debit card market is too narrow, legal experts predicted as the case heads toward trial.
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FedNow extension wins support
Stripe, Visa, Wise and industry trade groups back the Federal Reserve’s plan to expand its instant payment system for cross-border use.
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Same-day ACH payments swell in Q2
Nacha attributes the growth to financial firms’ increasing demand for faster payments.
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Opinion
Opening the Fed’s payment rails
“Supervision will need to answer practical questions: what operational resilience should be required before a participant touches core payment infrastructure?” wonders an SRM industry consultant.
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Augustus aims to speed payments
The company received FDIC approval in its quest to create a bank that moves beyond the legacy approach to settlements.
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Fiserv flags Clover revenue drop
The payments processor said a slowdown in the merchant service unit’s hardware sale is negatively impacting results.
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Block explores how to price AI
Cash App’s parent is focused on customer adoption of its AI tools before deciding how it will monetize those offerings, CEO Jack Dorsey said.
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Column
Visa, Mastercard join another stablecoin group
The card networks are keeping their options open with respect to stablecoin communities, locking arms with Circle on its latest effort.
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Toast aims to drive AI into dining
Most restaurants don’t have time to leverage AI tools, Toast executives say, anticipating profit from helping operators reap efficiencies.
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Trump backs card bill, again
The president called card interchange fees a “ripoff” in a social media post backing the Republican co-sponsor of a bill aimed at reducing them.
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FIS seeks to sell parts of capital markets unit
The banking and payments services company floated the plan to offload pieces of the business after sales declined for that segment.
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Visa to buy BioCatch for $2.4B
The card network giant plans to scoop up the Israeli firm to strengthen its defenses in a fight against fraud fueled by artificial intelligence.
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Western Union faces profit drop
The cross-border payments company’s business has been hurt by U.S. immigration policies, forcing it to embark on a cost-cutting plan.
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Visa loses bid to dismiss porn lawsuit
The card network must defend itself against a 2021 lawsuit related to sexual videos of underage minors that were posted on pornography sites.