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Affirm extends bridge to regulators
“I think a fair amount of our competitors believe that they’ll either talk their way out of [regulatory attention] or hide,” Affirm CEO Max Levchin said.
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5 takeaways from Michael Barr’s views on CBDCs, stablecoins and more
The Federal Reserve’s vice chair for supervision spoke about “responsible innovation” Friday at a Philadelphia Fed fintech conference.
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CFPB takes aim at Apple, Google tap-to-pay tech
“Regulations imposed by Big Tech firms have a big impact on whether consumers and businesses can make payments using third-party apps,” CFPB Director Rohit Chopra said in a Thursday press release.
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Medical credit cards ‘exploit loopholes’ in healthcare debt protection, report finds
The credit cards, which can promise patients deceptive no- or low-interest rates, are increasingly being offered in hospitals and physician offices, a PIRG report said.
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Convenience store company credits ‘improved labor situation’ to AI-powered self-checkout
The retailer brought the automated platforms to 2,200 stores across North America, and 40% of in-store payments at these sites run through them, CEO Brian Hannasch said.
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Q&A
Turmoil at Discover may make it an acquisition target
Discover, hunting for a new CEO while it addresses compliance issues, might catch the eye of a large regional bank, an industry attorney said.
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PayPal expands tie with Meta
The digital titans plan to extend a partnership in which the payments company channels charitable giving on the Facebook and Instagram social media sites.
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X nabs Rhode Island, Mississippi money licenses
The new licenses are aimed at advancing Elon Musk's campaign to expand the social media company formerly known as Twitter into the payments business.
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Block CFO details Square’s revamped sales approach
Square’s refocused sales team is a “key investment area for us in the future,” Block executive Amrita Ahuja said Wednesday.
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JPMorgan Chase revs up payments lab hiring
The bank is venturing further into fintech and payments for new product development at its lab in Greece.
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Mastercard CEO counters WSJ fee increase story
In a Tuesday presentation, Mastercard’s CEO rebutted Wall Street Journal reporting last week about prospective credit card fee increases for merchants.
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Discover expands board with former regulator
The card issuer added a former FDIC regional director to its board as it grapples with regulatory scrutiny.
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Shopify integrates Buy with Prime feature
In a move that alters the companies' relationship, competitors Shopify and Amazon partnered to give Prime customers the payment option.
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Toast CEO resigns
Chris Comparato, who has been CEO since 2015, told the restaurant payments company’s board on Friday that he’ll exit his leadership posts on Jan. 1.
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Visa leans into stablecoin efforts
Visa has tapped new partners, including Worldpay and Solana, to build on a digital currency experiment it began in 2021 with Ethereum and Crypto.com.
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Durbin, Marshall lambaste card fee increases
Sens. Dick Durbin and Roger Marshall railed against expected credit card fee increases following a report that hikes are planned for October and April.
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Q&A
Andreessen Horowitz circles healthcare payments
A health tech partner at the venture capital firm outlined her fintech investment thesis and why the healthcare industry is at an inflection point.
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Average out-of-network ATM fees up by a penny: Bankrate
Banks are charging more for out-of-network withdrawals as ATMs slowly disappear and consumers rely less on cash and checks.
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Zelle transaction volume jumps
Second-quarter transaction volume at the bank-owned peer-to-peer payments app rose 10% over the first quarter, parent Early Warning Services said.
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Klarna narrows first-half loss
The Swedish BNPL company, which was last profitable in 2018, recorded a small profit for one month during the second quarter.
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Grubhub, Amazon team on automated campus convenience store
Students at the Loyola University Maryland store will scan a QR code in the food delivery app to enter the frictionless shop and pay for items.
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Google joins OpenWallet Foundation
"We look forward to working closely with other OWF members to advocate for solutions that ensure we’re building a privacy-forward wallet for everyone,” Google Wallet Vice President Jenny Cheng said.
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Opinion
Why on-demand pay lures employees
Employers can better compete for gig workers, and other employees, by offering instant payment of wages, one fintech president argues.
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Zip posts loss under new leadership
After overhauling the business to stem cash burn and turn a profit, BNPL firm Zip’s annual loss narrowed over last year.
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Elavon, Ingenico team on new payments tool
U.S. Bank’s payments software unit is locking arms with the French hardware-maker to take on a raft of competitors targeting small businesses.