Revolut hit with biometric ID class action in Illinois

Several tech companies have been hit with lawsuits under Illinois' Biometric Information Privacy Act in recent years.

By Gabrielle Saulsbery • Jan. 12, 2024

States race ahead of US lawmakers in payments

State lawmakers and regulators are out-running their national peers in giving direction to the fast-evolving payments industry.

By Lynne Marek • Jan. 12, 2024

Explore the Trendline➔

Payments industry seeks to keep pace with fraudsters

As losses from fraud in payments have climbed, companies are seeking new tools to combat illicit schemes.

By Payments Dive staff

Stablecoin issuer Circle files for IPO

Circle, which issues the USDC stablecoin, has filed confidential paperwork with the Securities and Exchange Commission — one day after the SEC's approval of 11 spot bitcoin exchange-traded funds.

By Gabrielle Saulsbery • Jan. 12, 2024

Instant payments to buoy cross-border flow

The latest cross-border input from the U.S. Faster Payments Council suggests it’s not too early to assess how real-time payments will shape international transactions.

By Lynne Marek • Jan. 11, 2024

X plans payments launch for this year

“I would be surprised if it takes longer than the middle of [2024] to roll out payments,” X owner Elon Musk said during a conversation last month with Ark Invest CEO Cathie Wood.

By James Pothen • Jan. 10, 2024

California’s DFPI fines Credova $50K

The buy now, pay later provider catering to gun sellers didn’t inform consumers of potential convenience fees, the state agency said.

By Caitlin Mullen • Jan. 10, 2024

6 payments trends to watch in 2024

Swipe fee battles, real-time payments, fraud prevention and acquisition plans will be among the hot topics pulsing through the industry this year.

By Lynne Marek , Caitlin Mullen , James Pothen • Jan. 9, 2024

Congress members seek clarity on CFPB bid to oversee digital wallets

In two separate letters, both Republican and Democratic lawmakers asked the Consumer Financial Protection Bureau to provide more information on a proposed rule.

By James Pothen • Jan. 9, 2024

Regulator’s BNPL guidance may go beyond banks

The Office of the Comptroller of the Currency directed its advice at national banks, but a Venable attorney expects others to use it to inform their approaches.

By Caitlin Mullen • Jan. 9, 2024

Visa cracks down on surcharge programs

The card network company is boosting efforts to enforce surcharge rules, with non-compliance potentially resulting in fines up to $1 million, according to one card processor.

By Lynne Marek • Jan. 8, 2024

FlexWage wins EWA carve-out in Connecticut

The earned wage access company said the Connecticut Department of Banking determined it doesn’t need a state lending license.

By Lynne Marek • Jan. 5, 2024

Florida weighs cashless ban

Lawmakers in the state are considering legislation that would require merchants to accept cash payments.

By Caitlin Mullen • Jan. 5, 2024

Bank groups voice concerns with CFPB’s open banking proposal

The Bank Policy Institute and The Clearing House want the Consumer Financial Protection Bureau to take a tougher stance on screen scraping, and allow banks to charge fees to cover the cost of enabling data sharing.

By Anna Hrushka • Jan. 5, 2024

Trade groups seek to delay digital wallet oversight plan

Fintech trade groups asked the Consumer Financial Protection Bureau to extend the comment period on a proposal formalizing its oversight of big tech companies’ digital wallets.

By Caitlin Mullen • Jan. 4, 2024

CFPB flags impending guidance on earned wage access

The federal agency plans to weigh in on EWA services, it said in commenting on a California proposal to register and oversee the providers of such services.

By Lynne Marek • Jan. 4, 2024

NY governor pursues BNPL regulation

New York Gov. Kathy Hochul is seeking to require buy now, pay later providers to obtain a license to operate in the state, in addition to other potential regulations for the industry.

By Caitlin Mullen • Jan. 3, 2024

New York enacts surcharge law

The state’s new law will force merchants to limit credit card surcharges and more clearly disclose them to consumers. If the businesses don’t, they could face a $500 penalty.

By Lynne Marek • Jan. 3, 2024

Trade group girds for 2024 CCCA fight

The Electronic Payments Coalition is “fully funded” for the continuing fight over the proposed Credit Card Competition Act this year, said the organization’s executive chairman.

By Lynne Marek • Dec. 22, 2023

How Google’s settlement will change in-app payments

Google’s settlement with attorneys general this week includes a lengthy list of changes the tech titan must make in its approach to in-app payments.

By Lynne Marek • Dec. 21, 2023

U.S. Bank fined $36M over freezes of COVID-era unemployment benefits

The Minneapolis-based lender flagged a CFPB probe into prepaid card use last year. The OCC added a separate penalty Tuesday.

By Dan Ennis • Dec. 20, 2023

Atlanta Fed delivers payments inclusion report

PayPal, Block and Global Payments representatives contributed to the Atlanta Federal Reserve Bank’s research on how to draw more people into the digital payments sphere.

By Lynne Marek • Dec. 20, 2023

Don’t know what a digital wallet is? We’ve got you covered.

This primer fills in the gaps on how digital wallets work, what companies compete to provide such payment tools and what to expect from them in the future.

By James Pothen • Dec. 20, 2023

Senators prod CFPB on BNPL oversight

Three Democratic lawmakers worried about financially vulnerable consumers during the holiday shopping season urged the Consumer Financial Protection Bureau to keep an eye on buy now, pay later offerings.

By Lynne Marek • Dec. 19, 2023

SEC won’t budge on crypto regulation

In denying a petition submitted by Coinbase, the agency has concluded rulemaking isn’t needed for issuers and intermediaries to know which – and how – crypto assets fit within securities law.

By Robert Freedman • Dec. 18, 2023

Marshall keeps up CCCA crusade

Sen. Roger Marshall acknowledged the Credit Card Competition Act bill may not get a vote this year, but he intends to keep pushing for passage in 2024.

By Lynne Marek • Dec. 15, 2023