The Latest
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CFPB issues final rule on open banking
In a change from last year’s proposal, payment apps are included under the rule. Financial institutions with less than $850 million in assets are exempt.
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Stripe to buy stablecoin company Bridge for reported $1.1 billion
The CEOs for Stripe and Bridge confirmed the news on the social media platform X on Monday, but offered few details on the deal.
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Oracle debuts healthcare payments service
The new system enables patients to pay their medical bills via cards or digital payments, and helps medical facilities track revenue.
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Daniel Boczarski via Getty Images
Fiserv may grab competitive edge with new bank charter
The payments processor can undercut rivals on price because it won’t be paying bank fees, say industry consultants.
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Spencer Platt via Getty Images
Amex Q3 restaurant spending growth edges down
The card issuer has recently focused on courting cardholders hungry for restaurant services, but last week reported spending growth in that category had waned.
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Courtesy of Apple
Apple, Klarna collaborate on BNPL
The tech giant has linked with the Swedish buy now, pay later provider to offer Apple Pay customers in the U.S. and U.K. another payment option.
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PayPal drops fundraiser tool on app
The payments pioneer is discontinuing a program through which app users could post fundraising drives, often for personal needs. Other options for donating will remain.
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Employees who lean on EWA face increased fees
Many employees who use earned wage access services are high-frequency customers who end up with higher overdraft costs, said a Center for Responsible Lending report.
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Joe Raedle / Staff via Getty Images
Walmart pitches Fiserv’s Clover to business clients
The retailer is offering the mega-processor’s Clover equipment and account services to its business clients at a discount through next January.
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Scott Olson / Staff via Getty Images
Discover discloses SEC accounting criticism
The federal agency disagrees with the way the card network is allocating card misclassification charges, Discover said in its third-quarter earnings report.
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FTC unveils final ‘click-to-cancel’ rule for consumers
The agency rule targeting recurring payments comes amid a broader effort by the Biden administration to reduce consumer “junk” fees.
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Courtesy of Mastercard
Payments players tap M&A to build tech stacks
The Fed’s recent interest rate cut could spur even more deal-making in the remaining months of the year and into 2025. Mastercard, Global Payments and Payoneer are among the companies that have bought businesses this year.
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Courtesy of Megan Cheung
Visa taps AI analytics partner to add merchant services
The card network giant has signed a new multi-year agreement with the marketing research firm Analytic Partners to deliver advertising insights to merchant clients.
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More authentication leads to fewer approvals
Research from payments software firm Stripe shows credit and debit card transactions using an advanced security tool are less likely to be approved.
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Vadym Petrochenko via Getty Images
Payments investments rise worldwide
Although venture capital investment in young payments firms grew globally during the third quarter, compared with the same period last year, that wasn’t the case for U.S. firms.
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Bill Pugliano via Getty Images
Barclays replaces Goldman Sachs as GM card issuer
The London-based consumer bank will issue two GM credit cards in the U.S., beginning next summer.
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Worldpay taps Aeropay for gaming payments assist
The two payments companies have teamed up to provide account-to-account payments for gaming merchants and their customers.
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Win McNamee via Getty Images
Treasury official calls for new regulatory framework
The department’s undersecretary for domestic finance, Nellie Liang, suggested state oversight of money transmitters was outdated in an era of electronic payments.
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Courtesy of Grabanco
Automated-checkout company Grabango shuts down
The tech company was unable to secure the funding needed to continue operating, a spokesperson said.
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Justin Sullivan / Staff via Getty Images
Stripe partners with Nvidia, Pepsi and Rivian
The payments software provider announced a slew of new partnerships on Wednesday, also with Amazon and AMC Networks.
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Spencer Platt / Staff via Getty Images
New York Governor signs gun code law
Gov. Kathy Hochul signed a new law Wednesday requiring merchants to use a gun code, saying it could help prevent mass shootings.
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Permission granted by Lynne Marek
Toast increases processing fees, adds surcharge feature
The digital restaurant payments provider raised processing fees for some restaurant clients. Separately, it’s aiding clients in adding surcharges on their customers’ orders.
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Creative via Getty Images
Global Payments embarks on ‘transition’ year
The payments processor expects to undertake possible divestitures, beginning this year, as part of an effort to jump-start revenue in subsequent years.
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Viorika via Getty Images
MoneyGram attack exposed sensitive customer data
The attack led to a days-long outage in September. The money transfer firm hasn’t described the nature of the incident or said how many people have been impacted.
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Bonnie Cash via Getty Images
Durbin jumps into Illinois interchange law fray
Sen. Dick Durbin threw his weight behind an Illinois law that would nix interchange fees on taxes and tips, supporting the edict in a court document filed Friday.
