The Latest
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Fiserv ventures into high-end restaurants
The payment processing giant’s point-of-sale platform Clover will begin catering to upscale dining establishments next month.
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Uber expands test with an exotic payment – cash
The company is testing more cities in which drivers will take cash, aiming to attract riders who don’t have credit or debit cards.
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ColumnDurbin to keep pushing card bill
The retiring Senate Democrat plans to reintroduce the Credit Card Competition Act proposal despite plans to wrap his four-decade congressional career.
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PayPal pays up for talent
The digital payments pioneer delivered sizable pay packages last year after it hired new executives, including one landing $29.4 million in annual compensation.
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Illinois AG, Durbin defend state card fee law
They filed a second brief supporting a state law that excludes taxes and tips from card interchange fees.
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Apple, Google lag fintechs’ wallets for fraud monitoring: report
Digital wallets are broadly comparable, although they differ on data, fraud monitoring and liability issues, Consumer Reports found in an evaluation.
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Capital One readies for Discover integration work
With Discover, “we will be going back into the world of data centers” for “a number of years,” Capital One CEO Richard Fairbank said Tuesday.
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Fiserv to acquire Brazilian fintech Money Money
The processor’s purchase will benefit its Clover unit in its effort to provide financing to small businesses, the company said.
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Adyen hit with cyberattack in Europe
Services were disrupted for about eight hours over two days by a distributed denial of service attack, the Dutch company said on its website.
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FedNow draws 1,300 financial firms
The instant payments service has attracted mostly small and mid-sized financial services firms as it inches up adoption by financial institutions.
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Trade group pushes directory for instant payments
The U.S. Faster Payments Council advocated for an open and secure directory service to increase real-time payment adoption, per a report earlier this month.
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Card holders rail about Uber in FTC lawsuit
Uber user complaints about recurring monthly charges, unclear enrollment and a frustrating cancellation process spur a Federal Trade Commission lawsuit.
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Instant payments could improve video games: KC Fed
Moving away from in-game currencies may make the gaming experience simpler for players and reduce costs for video game companies, Kansas City Fed specialists argue.
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Q&AWrite off paper checks, ACI Worldwide CEO advises
Tom Warsop praised the Trump administration’s move to eliminate paper checks and suggested businesses should do the same.
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Fiserv, Kansas to open fintech hub
The hub will open later this year in Overland Park, Kansas, and help Fiserv better serve Midwestern customers, the company said in a news release Monday.
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Fed, FDIC force more oversight of Discover
The Federal Reserve and the FDIC penalized the card network for overcharging merchants on interchange fees and said the company must pay $250 million in fines, make restitution to merchants, and change its practices as a condition to merging with Capital One.
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Ramp reportedly angles for part of $700B US credit card program
The fintech is seeking to handle a piece of the SmartPay federal employee charge card program, assisted by its close ties to the Trump administration, the media outlet ProPublica reported.
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Retrieved from OCC.
Capital One-Discover wins approvals
The Federal Reserve and the Office of the Comptroller of the Currency will allow a merger creating the largest U.S. credit card issuer.
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Paper check use surged last year, AFP says
Use of paper checks by U.S. businesses jumped last year, according to an annual survey by the Association for Financial Professionals, which struggled to explain the results.
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CFPB to ‘deprioritize’ payments oversight
An agency memo directs the agency’s staff to bring redress directly to affected consumers, “rather than imposing penalties on companies.”
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Lynne Marek/Payments Dive
Visa’s Pismo names new CEO
The Brazilian payments software business promoted new executives as it pursues growth under the auspices of its giant card network owner.
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Southworks
FIS, Global Payments agree to Worldpay deal
Fidelity National Information Services and Global Payments unveiled a deal Thursday in which FIS plans to buy the latter’s issuer business and sell its Worldpay stake.
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Pay-by-bank should offer perks: Deloitte
Banks must persuade merchants and consumers the payment method is an acceptable alternative to credit cards, the consulting firm suggested.
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Q&ASpire pushes pay-by-bank model
Direct bank payments at the point of sale will become more attractive to merchants through a Discover Financial tie, the CEO says.
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Permission granted by Fiserv
Klarna partners with Fiserv’s Clover
A recently signed deal will bring Klarna’s installment loans to Clover checkout at merchants across the U.S.
