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.

By Lynne Marek • Sept. 13, 2023

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.

By Caitlin Mullen • Sept. 13, 2023

Explore the Trendline➔

Cross-border payments targeted for upgrades

When it comes to cross-border payments, businesses, non-profits and governments alike are determined to increase the speed of transactions and cut the cost.

By Payments Dive staff

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.

By Lynne Marek • Sept. 12, 2023

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.

By Suman Bhattacharyya • Sept. 11, 2023

PayPal CEO stresses stablecoin potential

The digital payments pioneer has set its expectations high for growth in stablecoins, as regulators circle the space.

By Lynne Marek • Sept. 11, 2023

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.

By Caitlin Mullen • Sept. 11, 2023

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.

By Sydney Halleman • Sept. 11, 2023

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.

By Caitlin Mullen • Sept. 8, 2023

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.

By James Pothen • Sept. 8, 2023

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.

By James Pothen • Sept. 7, 2023

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.

By Lynne Marek • Sept. 6, 2023

Discover expands board with former regulator

The card issuer added a former FDIC regional director to its board as it grapples with regulatory scrutiny.

By Caitlin Mullen • Sept. 6, 2023

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.

By Lynne Marek • Sept. 5, 2023

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.

By Lynne Marek • Sept. 1, 2023

Processor trade group weighs in on FedNow, surcharges

The American Transaction Processors Coalition, which includes payments players from Visa to Fiserv, strives to strike a balance in representing their interests at the federal and state levels.

By Lynne Marek • Aug. 28, 2023

Incoming payments CEOs usher industry into new era

A spate of CEO appointments this year reflects an era of change and competition that’s likely to keep driving turmoil and advances in the industry.

By Lynne Marek • Aug. 28, 2023

X adds state money licenses in pursuit of payments

The social media company, formerly known as Twitter, advanced its payments strategy by collecting two more state money transmitter licenses.

By James Pothen • Aug. 28, 2023

Why the CCCA is ‘ill-informed’

A payments processing consultant argues that the Credit Card Competition Act isn’t the way to spur more competition in the industry.

By James Shepherd • Aug. 24, 2023

Swift makes progress on some G20 cross-border payments goals

The international cooperative reports improvements in meeting some G20 cross-border payments goals, but says the industry is falling short on others.

By Debbie Carlson • Aug. 24, 2023

New Jersey enacts law capping surcharges

New Jersey’s governor signed a new law capping credit card surcharges, limiting the amount merchants can charge for processing a transaction.

By Lynne Marek • Aug. 23, 2023

BNPL risks raise questions for Consumer Reports

BNPL’s ubiquity and growing use for everyday purchases should grab regulators’ attention, said Consumer Reports’s senior policy counsel.

By Caitlin Mullen • Aug. 21, 2023

ClassWallet draws $95M in funding

The company raised the money after government agencies and school districts lined up for its digital payments and fund management services.

By Tatiana Walk-Morris • Aug. 21, 2023

EWA advocates push back on Maryland guidance

At least one earned wage access advocate is pushing back on Maryland’s recent guidance that labels some on-demand wage offerings as loans.

By Lynne Marek • Aug. 17, 2023

Sociable: Behind Musk’s X app payments vision

Elon Musk wants you to use his X app for all types of banking and payments. That will require a leap of faith from consumers.

By Andrew Hutchinson • Aug. 17, 2023

Discover ‘acting with urgency’ on Hochschild replacement

Interim CEO John Owen also said the company has hired about 200 compliance officers in recent months as Discover bolsters regulatory and risk management efforts.

By Caitlin Mullen • Aug. 17, 2023