Consumers need credit card reform

“It's not just merchants at the mercy of the oligopoly,” writes Ed Mierzwinski, a senior director at the Public Interest Research Group. “Consumers all pay more at the store and more at the pump.”

By Ed Mierzwinski • Sept. 2, 2022

Go slow on a CBDC, Nacha says

The biggest payment system in the U.S. recommends limited implementation of a central bank digital currency if the Federal Reserve pursues that digital dollar.

By Lynne Marek • Sept. 2, 2022

Explore the Trendline➔

Top 5 stories from Payments Dive

The digital evolution of payments is roiling the industry, forcing companies to rethink pricing schemes and revamp corporate strategies. Embedded payments, earned wage access, real-time systems and other innovations will transform the business.

By Payments Dive staff

Who’s afraid of FedNow? Not Visa

Visa's CFO on Wednesday brushed off any concerns about the threat of new competition from FedNow, or any other real-time payments system.

By Lynne Marek • Sept. 1, 2022

Card companies urged to code gun sellers

Calls from government officials urging Visa, Mastercard and American Express to support creating a merchant code for gun sellers are growing louder.

By Caitlin Mullen • Aug. 31, 2022

FedNow aims for September testing

FedNow, an effort by the Federal Reserve Banks to speed up and modernize the U.S. payments system, is expected to launch as early as next May.

By Lynne Marek • Aug. 30, 2022

Banks push back against CBDC

The nation’s biggest bank and bank trade groups stressed the risks of creating a central bank digital currency in comments to the Fed, and largely rejected the idea that a digital dollar would accomplish stated goals.

By Lynne Marek • Aug. 29, 2022

Big payments companies poke at CBDC

Mastercard, PayPal, Fiserv and Stripe gave the Federal Reserve feedback on a central bank digital currency, pointing out key requirements and cautioning about the outcome.

By Lynne Marek • Aug. 25, 2022

Lawsuit filed against Block

A class action lawsuit has been filed against Cash App Investing and parent company Block over a December 2021 data breach.

By Caitlin Mullen • Aug. 25, 2022

CFPB seeks more credit card transparency

The Consumer Financial Protection Bureau is considering requiring top credit card issuers to share more information on their products to increase transparency for consumers.

By Caitlin Mullen • Aug. 24, 2022

DailyPay releases card with Visa

The earned wage access provider introduced the new debit card after major changes in leadership earlier this year.

By Tatiana Walk-Morris • Aug. 23, 2022

CFPB spotlights payments risks

The Consumer Financial Protection Bureau is “carefully monitoring” payments innovations and risks they pose to consumers, the agency said in a report.

By Caitlin Mullen • Aug. 22, 2022

FedNow to launch by mid-2023, Fed official says

The federal government’s new real-time payments system should be ready for use by the middle of next year, Fed Governor Michelle Bowman said in a speech this week.

By Lynne Marek • Aug. 19, 2022

Paysign aims to grow prepaid card services for drugs

Paysign aims to boost its prepaid card services for consumers shouldering the high cost of pharmaceuticals by offering drugmakers transparent pricing for such services.

By Joe Burns • Aug. 16, 2022

Let the credit card battle begin

Banks that issue credit cards and the retailers who hate their fees are lining up allies on Capitol Hill to fight over a new bill that calls for more competition in the industry. Visa and Mastercard are at the center of the conflict.

By Lynne Marek • Aug. 8, 2022

Visa, Mastercard react to Pornhub ruling

The two card companies took action against an advertising entity tangled up in a California lawsuit against the pornography website, which the plaintiff alleges illicitly posted images of her when she was a teenager.

By Lynne Marek • Aug. 5, 2022

FIS extends tie with Chargebacks911 to fight fraud

The partnership is aimed at arming merchants with digital tools to reduce chargebacks, cut costs and combat fraud.

By Jonathan Berr • Aug. 5, 2022

Will a swoon in valuations affect Block’s Afterpay?

Block acquired Afterpay for what was ultimately $13.9 billion in stock, but a string of fintechs writing down valuations in the face of economic pressures raises the possibility Block will be forced to do the same.

By Caitlin Mullen • Aug. 2, 2022

Legislation aimed at Visa, Mastercard lands

A new bill to curb Visa and Mastercard’s dominance of credit payments is likely to rev up a long-time battle between merchants and card companies.

By Lynne Marek • July 29, 2022

Card CEOs react to macroeconomic threats

Amid talk of a recession, executives with Visa, Mastercard, American Express and Discover are keeping a close eye on inflation, consumer demand and unemployment levels.

By Caitlin Mullen , Lynne Marek • July 29, 2022

Durbin to lob bill at Visa, Mastercard

Sen. Dick Durbin is poised to make good on his long-time threat to further rein in the two big U.S. credit card companies Visa and Mastercard with legislation aimed at increasing competition.

By Lynne Marek • July 28, 2022

Grocery company Albertsons rolls out SNAP online payment

The company now offers the purchasing capability at five banners through its own platform as well as the Instacart app.

By Catherine Douglas Moran , Jeff Wells • July 25, 2022

Discover CEO pelted with queries over loan probe

Discover Financial Services CEO Roger Hochschild said executives at the company “hope” an internal investigation of its student loan practices concludes this year, as he side-stepped analyst queries on the subject.

By Caitlin Mullen • July 21, 2022

Deluxe payments business to overtake check-printing

The company is “transforming from a legacy check-printing company to a payments and data company," CEO Barry McCarthy said.

By Jonathan Berr • July 21, 2022

BNPL will evolve as providers tweak the model

“Challengers frequently believe BNPL 1.0 is what it is, and will not evolve,” writes Brian Shniderman, CEO of Opy, a U.S. subsidiary of Australian payments fintech Openpay. “But it can, and very recently, it has proven that it will.”

By Brian Shniderman • July 20, 2022

Feds crack down on improper payments

A federal government report released this week takes aim at the problem of fraudulent public benefit payments, which mushroomed to $281 billion for fiscal year 2021.

By Lynne Marek • July 20, 2022