The Latest
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Courtesy of Amazon
Amazon adds RFID to cashierless tech
The new capability enables cashierless shopping for goods such as clothing, fan gear, hats and shoes.
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FG Trade via Getty Images
EMVCo floats click-to-pay guidelines
The proposed guidelines are the latest effort by the organization to introduce more industry standards for payments processing.
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Brex adds AI tool
Brex, which got its start by offering corporate credit cards to startups, is one of many software vendors racing to bet on artificial intelligence.
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Courtesy of Square
Square CEO to depart
Alyssa Henry, CEO of Block’s merchant business Square, will leave the company Oct. 2, handing over the post to co-founder Jack Dorsey.
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DenisTangneyJr via Getty Images
Connecticut moves to regulate EWA
The state is instituting new lending regulations that are likely to apply to some earned wage access providers starting next month.
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Citi launches token service for institutional clients
The service uses blockchain technology to convert clients’ deposits into digital tokens that can be used for instant, cross-border payments 24/7, the bank said.
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BNPL users seek and use more new credit, Fed study finds
Researchers with the Philadelphia Fed’s Consumer Finance Institute also discovered a typical BNPL user’s credit score was more than 50 points lower than a non-user's.
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Jason Reed via Getty Images
Digital dollar bill resurfaces in Congress
The proposed digital dollar would create an electronic version of the U.S. currency, but it wouldn’t be the same as a central bank digital currency.
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Creative via Getty Images
Small businesses embrace digital payments
Small business owners envision a cashless future, according to card giant Visa, even as some legislators move to protect unbanked and underbanked consumers.
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Permission granted by Steve Smith
Battle over credit card bill escalates
The fight over the Credit Card Competition Act is intensifying on Capitol Hill, with Senate floor diatribes and doughnut truck freebies.
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The image by Ted Eytan is licensed under CC BY-SA 2.0
CFPB flags risks of tuition payment plans
In a new report, the federal watchdog highlighted the pitfalls of school-based tuition payment plans, including confusing repayment terms and a high cost for credit.
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Courtesy of FIS
FIS battles higher labor costs
The run-up in labor costs at Fidelity National Information Services has eased, and the paytech services company is eyeing AI to keep them in check.
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Courtesy of Square
Square apologizes for last week’s outage
Block’s mea culpa for outages last week at its merchant unit, as well as its peer-to-peer business Cash App, acknowledged “this situation was made more difficult by our communication.”
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Robert Mora via Getty Images
Payments at MGM Resorts disrupted by cyberattack
The incursion is part of a spate of recent attacks against hospitality companies, including at Caesars Entertainment, that have affected card transactions, ATMs and reward programs.
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Courtesy of Grabango
Grabango lays off employees across several departments
The frictionless checkout provider declined to specify the number of impacted team members, though multiple LinkedIn posts indicate cuts hit 40% of the company.
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Michael M. Santiago / Staff via Getty Images
CEO out at embattled Binance.US
Brian Shroder joined the U.S. arm of the world's largest crypto exchange in 2021. Now, he's gone, as are one-third of the company's employees — who, unlike Shroder, were laid off this week.
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Win McNamee via Getty Images
Fed officials tout FedNow, seek adoption
Fed officials are on a campaign to increase adoption of the new instant payments system, noting it may have implications for other Fed services.
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Laurence Dutton via Getty Images
Discover shares pricing error findings with regulators
Discover executives met with regulators on the issue Monday, and the company expects further discussion, CFO John Greene said.
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Visa tracks spike in retail, e-commerce fraud
Fraudsters developed sophisticated techniques to evade safeguards and steal payment credentials, the card network said in its biannual report.
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Kevin Dietsch via Getty Images
CCCA backers target vote this year
Supporters of the proposed Credit Card Competition Act say Republican Sen. Roger Marshall foresees a Senate vote on the legislation this year.
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Stax CEO zeroes in on embedded payments
Stax is honing its strategy to build on embedded payments as the company pushes its payment facilitation offering, CEO Paulette Rowe said.
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Eugene Gologursky via Getty Images
PayPal CEO stresses stablecoin potential
The digital payments pioneer has set its expectations high for growth in stablecoins, as regulators circle the space.
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Kevin Dietsch / Staff via Getty Images
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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Win McNamee via Getty Images
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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Milko via Getty Images
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.
