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  • View of PayPal logo outside of company headquarters
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    Justin Sullivan via Getty Images

    New PayPal CFO takes medical leave

    PayPal SVP of Capital Markets Gabrielle Rabinovitch will step in for her second round as interim CFO as Blake Jorgensen departs for medical leave.

  • Entrance to CFPB building
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    The image by Ted Eytan is licensed under CC BY-SA 2.0

    CFPB mulls rules for BNPL

    The Consumer Financial Protection Bureau is weighing new rules and guidance for the fast-growing buy now-pay later industry after wrapping up a comprehensive report on it.

  • Stack of credit cards spread out
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    alexialex via Getty Images

    Amex, Discover see lasting credit changes

    The chief financial officers at American Express and Discover each said this week that pre-pandemic credit metrics for delinquencies and charge-offs won’t soon return.

  • Several Visa cards spread out on surface revealing company's logo.
    Image attribution tooltip
    Justin Sullivan via Getty Images

    Visa raises concerns on new gun code

    Visa cautioned the public about perceiving a new merchant code for gun-sellers as a means to interfere with any lawful sales. And the NRA said it’s seeking to water down implementation of the new code.

  • Fiserv CEO Frank Bisignano
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    Ilya S. Savenok / Stringer via Getty Images

    Fiserv CEO downplays margin pressure

    CEO Frank Bisignano said expenses related to “synergy work” have tapered off, with benefits becoming visible in the second half of the year.

  • Zelle's new ad campaign
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    Courtesy of Early Warning Services (parent company of Zelle)

    Zelle counters scam talk with growth rates

    The instant payments brand is highlighting a double-digit growth rate for its peer-to-peer payments tool and downplaying scams on its system.

  • Two kids running with shopping bags in front of two adults outside on a sidewalk near a building.
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    andresr via Getty Images

    Holiday spending to rise 7.1%: Mastercard

    The big credit card company forecast an increase in spending by consumers for the yearend U.S. holiday shopping season. 

  • JPMorgan Chase sign in front of building in street level view.
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    Chris Hondros via Getty Images

    JPMorgan buys payments firm Renovite

    The biggest U.S. bank is buying the payments company as competition in the checkout and card processing ecosystem mounts.

  • Several Visa cards spread out on surface revealing company's logo.
    Image attribution tooltip
    Justin Sullivan via Getty Images

    Visa to adopt new coding for gun merchants

    Card network juggernaut Visa said it will adhere to a new standard for identifying independent gun shops with a unique merchant code after an international body adopted the new approach last week.

  • Wyre CEO Yanni Giannaros, Bolt founder and executive chairman Ryan Breslow, Bolt CEO Maju Kuruvilla are pictured at the Bitcoin 2022 conference in Miami.
    Image attribution tooltip
    Permission granted by Bolt. From left to right: Wyre CEO Yanni Giannaros, Bolt founder and executive chairman Ryan Breslow, Bolt CEO Maju Kuruvilla at the Bitcoin 2022 conference in Miami.

    Bolt drops Wyre purchase

    The checkout startup had planned to purchase the cryptocurrency payments firm for $1.5 billion. That was before the collapse of crypto values recently.

  • Global currency symbols with skyscrapers in background
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    metamorworks via Getty Images

    Ramp jumps into cross-border payments

    The fintech startup is adding services as it targets a bigger bite of the $120 trillion business-to-business payments market.

  • Truck driving past entrance with Google sign.
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    Justin Sullivan/Getty Images via Getty Images

    Google invests in new cohort of Black entrepreneurs

    The tech behemoth invested another $5 million in Black entrepreneurs, including some that have founded firms in the payments arena.

  • Guns are shown in a gun store
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    Spencer Platt / Staff via Getty Images

    Gun merchant code approved for card purchases

    An international standards body approved a new merchant code that will apply to gun sellers for transactions using credit card networks like Visa and Mastercard.

    Updated Sept. 9, 2022
  • Michael Barr
    Image attribution tooltip
    Tasos Katopodis via Getty Images

    New Fed official speaks to payments, crypto and FedNow

    Here are 10 takeaways from the Fed's new head of supervision, on everything from payments to crypto to FedNow.

  • A man and woman looking at receipts inside a cafe
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    Ridofranz via Getty Images

    Mesh Payments raises $60M

    The payments company hopes to gain more business-to-business payments market share as the demand for expense management services rises.

  • A rendering of an empty hospital corridor with a reception desk.
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    Ninoon via Getty Images

    Healthcare fintechs targeted by cyber criminals

    Cybersecurity professionals say healthcare payments processing firms are particularly vulnerable to information technology breaches and ransom demands.

  • Close-up image of cash and credit cards
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    bernie_photo via Getty Images

    Basic income pilots gain momentum across US cities

    At least a dozen U.S. cities have implemented unconditional direct cash payment programs over the past year, as advocates seek to build evidence and experts debate the most effective structures.

  • A rifle is seen in a store window
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    Spencer Platt / Staff via Getty Images

    Lawmakers push card companies to back gun-merchant code

    Democratic Congress members, in letters to the CEOs of Visa, Mastercard and American Express, pressed the companies to support creating a merchant code for gun sellers.

  • Mobile phone with currency symbols
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    hqrloveq via Getty Images

    Visa, Mastercard face cross-border fee questions in U.K.

    The U.S. card giants are taking a stand in defense of their services for cross-border transactions as U.K.’s parliament and regulators scrutinize higher fees.

  • $100 dollar bill made up of 1s and 0s
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    imagedepotpro via Getty Images
    Column

    Strange bedfellows question CBDC

    The Fed has an uphill effort ahead in pursuing a central bank digital currency, as evidenced by extensive skepticism from two disparate groups.

  • credit cards
    Image attribution tooltip
    Retrieved from Flickr/frankieleon.
    Opinion

    Consumers need credit card reform

    “It's not just merchants at the mercy of the oligopoly,” writes Ed Mierzwinski, a senior director at the Public Interest Research Group. “Consumers all pay more at the store and more at the pump.”

  • Dollar sign breaking apart in cyber bits
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    Rafik via Getty Images

    Go slow on a CBDC, Nacha says

    The biggest payment system in the U.S. recommends limited implementation of a central bank digital currency if the Federal Reserve pursues that digital dollar.

  • Window with sticker showing logos for Visa, Mastercard and American Express.
    Image attribution tooltip
    Scott Olson via Getty Images

    Credit card interest rates reach record

    With the Federal Reserve pushing up interest rates to calm inflation, the average credit card interest rate is climbing, too, reaching a two-decade-plus record in August.

  • Corporate head shot of man in suit.
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    Permission granted by Visa

    Who’s afraid of FedNow? Not Visa

    Visa's CFO on Wednesday brushed off any concerns about the threat of new competition from FedNow, or any other real-time payments system.

  • Employee swipes card for customer at small business
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    rez-art via Getty Images

    Fiserv buys LR2 Group

    The global payments processor said it paid $26 million to acquire the independent sales organization, which had been a long-time partner.