The Latest

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    Spencer Platt via Getty Images
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    Swipe fee foes find legislative support in almost a dozen states

    The battle to curb interchange fees has migrated from Illinois across the nation, with bills in 11 states seeing robust lobbying.

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    Supatman via Getty Images
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    Mercury raises $300M

    The payments startup, which has backing from Marathon Management Partners and Andreessen Horowitz, aims to use the funds to expand its clientele and increase its profitability.

  • Wyre CEO Yanni Giannaros, Bolt founder and executive chairman Ryan Breslow, Bolt CEO Maju Kuruvilla are pictured at the Bitcoin 2022 conference in Miami.
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    Permission granted by Bolt
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    Executive Shuffle: Bolt, MoneyGram and DailyPay

    New C-suite appointments so far this year demonstrate the payments industry’s efforts to digitize their offerings and cater to small business clients.

  • A branch of Citibank in the Financial District of San Francisco, California is pictured on February 9, 2020.
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    hapabapa via Getty Images
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    CFPB nixes filing in case tied to Electronic Funds Transfer Act

    The bureau’s brief was withdrawn because it “advances an interpretation of the law that has never been embraced by any federal court prior.”

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    Andrey Popov via Getty Images
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    Utah governor signs EWA law

    The state joins a pack of others that have passed industry-friendly laws seeking to oversee earned wage access providers and their services.

  • Block Head Jack Dorsey testifies during a Senate Intelligence Committee hearing on Capitol Hill.
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    Drew Angerer via Getty Images
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    Block shrinks workforce 8%

    The job cuts appear aimed at making the company more efficient, according to TD Cowen analysts.

  • Consumer Financial Protection Bureau banks
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    Andrew Harnik via Getty Images
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    CFPB predicts late fee lawsuit settlement

    The agency’s new leadership believes it can settle a 2024 lawsuit banks and business groups filed over an $8 cap on credit card late fees.

  • Andy Barr, Kentucky Republican, speaks during a Congressional hearing.
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    Chip Somodevilla / Staff via Getty Images
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    Republicans air CFPB grievances, jockey for agency change

    Kentucky Republican Rep. Andy Barr called the bureau an “Orwellian predator” at a House subcommittee hearing where several lawmakers proposed reforms.

  • President Donald Trump holds a signed executive order
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    Andrew Harnik/Getty Images via Getty Images
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    Trump calls on federal gov’t to banish paper checks

    The White House issued an executive order Tuesday calling on the federal government to cease using paper checks by September, except in certain circumstances.

  • Fiserv CEO Frank Bisignano
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    Eugene Gologursky / Stringer via Getty Images
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    Fiserv CEO vows to keep Social Security Administration intact

    Senate Democrats questioned Frank Bisignano on privatization of the federal agency’s function during a confirmation hearing Tuesday.

  • Shot of personalized Revolut Visa card
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    Courtesy of Revolut Press Kit
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    Revolut US CFO aims for growth, maturity ahead of U.S. entry

    Balancing agility and compliance is crucial for the digital banking platform as it seeks to expand into markets like the U.S., Revolut Chief Financial Officer Max Lapin said.

  • Fiserv CEO Frank Bisignano
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    Caitlin Mullen/Payments Dive, data from Fiserv
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    Fiserv CEO faces fire for Social Security cuts

    Two Senate Democrats are calling on Frank Bisignano to oppose any cuts to Social Security ahead of hearings on his nomination to lead the agency.

  • credit cards debit cards
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    Scott Olson via Getty Images
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    Banks bash Illinois trend-setting law on card swipe fees

    Banks and credit unions are trying to kill a new Illinois law banning interchange fees, with a court filing, as multiple states seek to emulate the legislation.

  • nigel morris and fintech meetup founder on stage at fintech meetup in las vegas, nevada
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    Permission granted by Gabrielle Saulsbery
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    Q&A

    Fintechs egg on ‘willingness to challenge norms,’ Bolt president says

    Justin Grooms expects fintechs to keep pushing the payments industry forward with more competition for legacy players.

  • A businessperson hands a colleague a paycheck.
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    AndreyPopov via Getty Images
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    Arkansas, Utah move ahead with EWA laws

    The two states are the latest to pass legislation addressing workers’ growing practice of using earned wage access to tap their income before a regularly scheduled payday.

  • Consumer Financial Protection Bureau banks regulation
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    Anna Moneymaker via Getty Images
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    CFPB seeks extension to respond to nonbank oversight lawsuit

    The Consumer Financial Protection Bureau asked a federal court for more time to respond to a lawsuit over its authority to oversee big tech payments players.

  • A smartphone displaying the Affirm app
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    Courtesy of Affirm
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    Affirm, other BNPL players ratchet up credit bureau reporting

    At least three buy now, pay later firms have begun reporting consumer data on installment financing to TransUnion or Experian, and another gives customers the option of reporting that data.

  • The Federal Trade Commission emblem on the Constitution Center in Washington, D.C.
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    Laurel Deppen/Payments Dive
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    Bank transfer fraud losses outpace crypto

    The value of fraud losses last year was highest for bank transfers and payments, followed by cryptocurrency transactions, according to a report from the Federal Trade Commission released last week.

  • A close up of a payment terminal next to a white self checkout bin with paper bags hanging.
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    SolStock via Getty Images
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    Retailers push payment modernization

    A KPMG survey found that a majority of retailers plan to keep updating their payment programs to keep up with consumer tech demands.

  • Attendees at the Money 20/20 financial services conference in Las Vegas last year.
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    Lynne Marek/Payments Dive
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    Mastercard courts community banks

    The card network has initiated a new partnership with the Independent Community Bankers of America that will extend its services to that group’s financial institution members.

  • payments funding
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    andreswd via Getty Images
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    Payments players landed less capital in 2024: S&P report

    Venture capitalists invested 47% fewer dollars, compared to 2023, despite most of the startups posting increased revenue last year.

  • A sign that reads "Discover" marks the entrance to the card company's headquarters in Illinois.
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    Scott Olson / Staff via Getty Images
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    Discover cards now accepted at Airwallex merchants

    A partnership gives the card network a wider reach at a time when its proposed merger with Capital One still awaits regulatory approvals.

  • Fiserv's headquarters in Milwaukee
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    Permission granted by Fiserv
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    Fiserv acquires Dutch payment company CCV

    The processor will use CCV to expand the presence of its Clover point-of-sale system across Europe, the company said. The price paid was about $220 million, according to a regulatory disclosure.

  • Tom Panther
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    Courtesy of Fleetcor, now known as Corpay
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    Corpay CAO steps up as CFO exits for nonprofit

    Alissa Vickery is taking over as interim CFO as Tom Panther has left the company to become CFO of the National Christian Foundation.

  • A Walmart storefront showcases its refreshed brand identity, with a new typeface and the spark logo set apart as a standalone asset.
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    Permission granted by Walmart
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    Klarna seeks to flex advertising muscle

    Buy now, pay later provider Klarna has become an advertising juggernaut, and the new tie to Walmart will give it access to troves of additional customer data.