The Latest

  • Person placing credit card into machine at gas pump.
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    Justin Sullivan/ via Getty Images
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    Judge partially halts Illinois law ending card fees for taxes, tips

    Banks seeking to halt a new Illinois law that bars credit card interchange fees on taxes and tips succeeded on one front, but not another, at least for now.

  • Booth and sign for Federal Reserve payments services at Nacha conference in May 2024.
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    Lynne Marek/Payments Dive
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    Opinion

    Why enabling FedNow ‘send’ matters

    Financial institutions that “fail to adopt both send and receive functions may be exposing their organizations to competitive disadvantages as well as reputational risks,” writes one industry executive.

  • A gold American Express card being passed between two hands
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    Joe Raedle via Getty Images
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    Amex pays $230M to resolve DOJ allegations

    The credit card giant misrepresented features of some credit cards targeting small businesses and entered false information on card applications, the Justice Department alleged.

  • Military style vehicle with Cash App sticker on window.
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    Jesse Grant via Getty Images
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    Block agrees to pay $255M to regulators for Cash App deficiencies

    The digital payments provider agreed to pay penalties to the Consumer Financial Protection Bureau and a group of states under settlements that alleged the company violated banking laws.

  • Shift4 CEO Jared Isaacman
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    Courtesy of Shift4. Shift4 CEO Jared Isaacman
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    Shift4 makes $4.7M in undisclosed payments to executives’ relatives

    The payments were made over a three-year period beginning in 2020, and were not listed in some filings with the Securities and Exchange Commission. As a result, the company agreed to pay a fine under a settlement last week.

  • Hand holding Saphire Preferred credit card reaches to tap the card at a fuel pump.
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    Justin Sullivan via Getty Images
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    Card fraud losses will increase over next decade

    Fraud losses in card payments will continue to rise worldwide, the research firm Nilson Report said this month, predicting $404 billion in global losses over the next ten years.

  • Digital payments
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    Courtesy of Adyen
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    Q&A

    How AI makes payments faster, cheaper

    Artificial intelligence can simplify payment transactions for merchants, Davi Strazza, president of North America for Adyen, said in an interview.

  • Mastercard point of sale, retail
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    Courtesy of Mastercard
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    Mastercard agrees to pay $26M to settle discrimination lawsuit

    The card network entered the agreement to settle a proposed class action that alleged it discriminated against Black, Hispanic and female employees by underpaying them.

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    Sam Silverstein/Payments Dive
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    Buy now, pay later users pile on debt, CFPB finds

    Consumers who use BNPL take out multiple loans and have more personal debt than consumers who don’t use the payment method, according to a new report from the Consumer Financial Protection Bureau.

  • Large desktop computer stands on a desk with a computer monitor. The monitor shows a video game with soldiers attacking. There is a keyboard, mouse and headphones on the desk as well.
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    mikkelwilliam via Getty Images
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    Payments laws apply to online games, CFPB says

    Video game companies that operate online gaming platforms must comply with the Electronic Fund Transfer Act, the agency said.

  • Finance business investment data analytics strategy report, crypto currency blockchain stock exchange graph chart and business man in suit typing on keyboard computer, financial and technology.
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    Getty Images via Getty Images
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    CFPB picks FDX to set open banking standards

    The nonprofit will craft standards for consumer data sharing between financial institutions for the next five years.

  • People walk on a sidewalk past an ornate door with an iron gate with the words Chase above.
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    Michael M. Santiago via Getty Images
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    RTP payments surged 38% last year

    The high-speed payments system operated by The Clearing House also saw the value of transactions nearly double last year over 2023.

  • Ally Financial, NYSE facade
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    Courtesy of Ally Financial
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    Ally lays off hundreds of employees

    The digital bank also said this month that it’s exploring strategic alternatives for its credit card business.

  • Instacart's Scan & Pay program
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    Courtesy of Instacart
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    Deep Dive

    Payments plays gather momentum in 2025: 6 industry trends to watch

    Deregulation, artificial intelligence and stablecoin use are among the industry forces that will drive more digital payments use and innovation this year.

  • A person uses a credit card to pay for a purchase on a computer
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    Poike via Getty Images
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    FTV Capital raises $4B for more B2B investments

    The venture capital firm with a fintech focus said the latest fundraising brings the total raised since its founding to $10.2 billion.

  • An exterior shot of the Department of Justice building shows the words "Department of Justice" and an American flag flying above.
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    Kevin Dietsch / Staff via Getty Images
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    Fintech Dave alters fee structure, blasts DOJ over amended lawsuit

    The cash advance online platform called the lawsuit “a continued example of government overreach.”

  • Person looks at mobile phone advertising buy now-pay later offer while online shopping
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    Creative via Getty Images
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    Sezzle challenges critical research from short-seller firm

    The buy now, pay later firm argues that a recent Hindenburg Research report highlighting a decline in users and merchant partners overlooks important context and details.

  • ACI Worldwide CEO Thomas Warsop
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    Permission granted by John Kraft
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    Q&A

    How ACI Worldwide is deploying AI

    The payments software company has artificial intelligence delivering efficiencies in several areas of its business, CEO Tom Warsop said recently.

  • A close-up of Sen. Bernie Sanders speaking in Dirksen, a U.S. Senate building
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    Courtesy of U.S. Senate Committee on Health, Education, Labor and Pensions
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    Column

    Will Trump and Sanders lock arms to cap credit card interest rates?

    The senator and incoming president partnering on a cap proposal may not be as far-fetched as the payments and banking industries would hope.

  • Priori, Brightflag, 2024 law firm rates
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    insta_photos via Getty Images
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    Payments player Tranch acquired by legal services firm

    Both companies provide services to law firms worldwide, and the acquirer, Elite, says the merger will help expand its product offerings.

  • Consumer Financial Protection Bureau Director Rohit Chopra
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    Anna Moneymaker / Staff via Getty Images
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    CFPB details BNPL, EWA supervision for first time

    In its latest supervisory overview, the Consumer Financial Protection Bureau included a review of buy now, pay later and earned wage access examinations.

  • Close up of easy payment by credit card or smartphone application Greenhouse workers selling pottered flowers.
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    whyframestudio via Getty Images
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    How ‘frictionless’ payments may benefit, hurt consumers

    Such digital payments can slash transaction times, improve data security and provide valuable insights into consumer purchasing behavior and preferences.

  • Federal Reserve Chairman Jerome Powell speaks during a news conference following the September meeting of the Federal Open Market Committee at the William McChesney Martin Jr. Federal Reserve Board Building on September 18, 2024 in Washington, DC. The Federal Reserve announced today that they will cut the central bank’s benchmark interest rate by 50 basis points to a new range of 4.75%-5%.
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    Anna Moneymaker via Getty Images
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    Merchants, banks spar over Fed’s debit card fee proposal

    Major trade groups for merchants and banks engaged in another round of fighting last week over whether the Federal Reserve should finalize a lower debit card interchange fee rate.

  • A smartphone displaying the Affirm app
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    Courtesy of Affirm
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    Debit card decline issue persists for Affirm

    The buy now, pay later firm has a team working to correct a problem with some customers experiencing debit card declines, the company CFO said in December.

  • Person hands two blue bags to person at the front door of a residence.
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    Courtesy of Walmart
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    Walmart forced delivery workers to pay ‘junk fees,’ CFPB alleges

    A Consumer Financial Protection Bureau lawsuit alleges the retailer and fintech Branch Messenger illegally opened accounts for drivers, and deposited their pay into accounts without their consent.