Fed extends comment period on debit card fee proposal

The Federal Reserve extended the time period during which it will accept public comments on its proposal to reduce the cap on debit card fees.

By Lynne Marek • Jan. 23, 2024

Congressional card bill won’t yield benefit

If it were to pass, the Credit Card Competition Act proposal would result in additional costs without any gains, argues one payments industry consultant.

By Ken Musante • Jan. 22, 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

DailyPay lands more financial support

The earned wage access company said it raised $75 million in new equity funding and $100 million in debt financing.

By Lynne Marek • Jan. 22, 2024

Law firms jockey for payments action

A proliferation of payments and fintech players has sparked a contest for talent among law firms seeking to meet clients’ needs.

By Lynne Marek • Jan. 22, 2024

Credit card surcharge bills lurk in state legislatures

The state legislation relating to credit card surcharges is poised to keep percolating in a pack of states this year, following new laws in some last year.

By Lynne Marek • Jan. 19, 2024

FedNow draws some banks, as others lag

The Federal Reserve is building up bank participation in FedNow, but some big financial institutions remain on the sidelines.

By Lynne Marek • Jan. 18, 2024

Discover lands servicer for student loan portfolio

Student loan servicer Nelnet will handle servicing of Discover’s portfolio while the card issuer markets it for sale, said CFO John Greene.

By Caitlin Mullen • Jan. 18, 2024

Epic CEO vows challenge to Apple’s payments plan

“Epic will contest Apple's bad-faith compliance plan in District Court,” Epic Games CEO Tim Sweeney said in a Tuesday post on X, formerly Twitter.

By James Pothen • Jan. 18, 2024

Payments M&A poised to rise this year

Conditions could be ripe for more payments deals in 2024, as legacy players seek to add unique technologies and struggling startups find themselves in need of an exit plan.

By Caitlin Mullen • Jan. 18, 2024

Amazon, Andreessen Horowitz seek exemptions on proposed CFPB rule

The e-commerce giant and investment firm asked for carve-outs for Amazon Pay and non-fungible tokens, respectively.

By James Pothen • Jan. 17, 2024

CFPB proposal would cut overdraft fees

Overdraft fees would be reclassified as extensions of credit, forcing banks to disclose an APR. They could also be cut to as low as $3.

By Dan Ennis • Jan. 17, 2024

X gains money transmitter approval in Utah

X has been collecting money transmitter approvals in recent months to launch peer-to-peer payments in the app.

By Andrew Hutchinson • Jan. 17, 2024

Apple, Google face legal challenges to their payments businesses

Both tech giants will spend this year fighting off rivals hungry for a piece of their payments revenue.

By James Pothen • Jan. 16, 2024

Fiserv seeks special purpose bank charter

The designation would allow the payment processor to own transactions from end-to-end, removing the need for a bank partner.

By Caitlin Mullen • Jan. 12, 2024

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

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

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

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

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