Visa faces possible DOJ lawsuit, news reports say

The card network may soon be sued by the Department of Justice over its debit card practices, according to multiple news reports citing anonymous sources.

Amazon, Google stake out bigger foothold in payments

The tech giants are inserting themselves into more retail transactions to build loyalty and harvest customer data.

DailyPay to offer service outside US

Earned wage access provider DailyPay plans to begin offering its services outside the U.S. for the first time later this year.

Love’s adds digital payment method

The convenience store operator turned to Relay Payments to allow truck drivers to pay securely at most of their fueling locations.

Walmart, Fiserv team to offer real-time payments

The retail giant and payments processor are targeting next year for offering consumers a real-time payment option online.

Credit Card Competition bill backers keep pressure on

Republican Sen. Roger Marshall has a new ad pitching the Credit Card Competition Act proposal aimed at dislodging Visa and Mastercard’s dominance.

Amazon adds PayPal option to Buy with Prime

The e-commerce platform will also let consumers connect their PayPal and Prime accounts next year, and access free shipping via Buy with Prime on some merchants’ sites.

Affirm CEO stakes out differences with Klarna

Affirm makes money off transactions, whereas Klarna has revenue from marketing, Affirm CEO Max Levchin contended.

Reliant pushes back against CFPB lawsuit

The card services company argued Wednesday that it has always been upfront with customers about fees, and was blindsided by the CFPB's legal action.

Who really pays for your credit card reward points?

"While rewards may feel like a bonus for those who use credit cards regularly, they ultimately come at a cost," writes one payments executive.

Brex rolls out embedded payments tool

The fintech aims to capture a larger share of the B2B payments market, working with partners in addition to selling directly, Brex's president said.

Fed payments proposal pits big banks against small rivals

The Federal Reserve’s proposal to extend the operating hours of two interbank payments systems has been welcomed by large banks, but panned by many small financial institutions.

Mastercard CFO to continue working after cancer diagnosis

Decisions on medical disclosures can be challenging for companies. Mastercard’s approach drew high marks from some corporate governance experts.

CFPB takes aim at ATM, debit card fees

Regulators should assume, as a default, that customers have not agreed to coverage and fees unless banks can provide signed agreements or recorded conversations, the agency said in a policy reminder.

Rain to offer EWA services via Workday

The earned wage access provider will now be able to offer its services to more employers through the human resources software firm’s systems.

Block shuffles leadership, creates chief risk officer role

Block will move several longtime executives into different positions and create a new role to address customer safety, the company said Monday.

Apple launches Affirm BNPL option

Apple Pay customers can now use their iOS 18 phone or iPadOS 18 to access Affirm buy now, pay later options, including some that don’t charge interest.

Lawmakers push for crackdown on fintechs

Two U.S. senators demanded tighter regulations on BaaS and fintech partnerships, saying they pose “a broader threat to the stability of our banking system and the economy.”

Visa, Mastercard enable rail transit payment in Beijing

The major card networks enabled systems that allow international travelers in China to use their cards to pay for Beijing rail transit as of last week.

CFPB sues credit card company over excessive fees

The agency says Horizon Card Services violated the Truth in Lending Act by charging fees as high as 60% of a customer’s credit limit, and all but refusing to cancel their cards.

FTC cracks down on subscription traps

The Biden-Harris administration is taking to task companies that trap consumers in recurring subscriptions and make it nearly impossible to cancel.

U.S. Bank rolls out access to Paze digital wallet

The bank began offering the payments option from Early Warning Services to its credit and debit cards customers this week.

Mastercard acquires cybersecurity firm for $2.65B

The acquisition is the latest in a series of cybersecurity firm purchases by the card network over the years.

Ansa debuts in-store digital wallet capabilities

Ansa last week launched a software development kit, which can be patched onto the code of a brand’s mobile app. “The pain’s on our side to make sure all their systems talk,” co-founder Sophia Goldberg said.

North American cashless payments to climb 7% by 2028: report

Real-time payments and open banking will drive the increase, forcing the shift even faster globally, a Capgemini report released this week said.