Risk
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Georgia special charter attracts another applicant
The move follows the approval of payment processing company Fiserv’s application, which was approved in October, but payments industry consultants say the path to using such a charter is a rocky one.
By Patrick Cooley • Feb. 13, 2025 -
Discover flags potential Cap One merger delay
Discover Financial Services said it now expects the transaction to be completed by May 19, three months later than initially expected as the companies await regulatory approvals.
By Patrick Cooley • Feb. 12, 2025 -
Senators reintroduce bill to bar CBDC
Republican senators revived a bill last week to block the Federal Reserve from creating a central bank digital currency.
By Lynne Marek • Feb. 10, 2025 -
Affirm to emphasize no-interest loans
The company said that offering more interest-free financing options would drive profits by bringing in more customers.
By Patrick Cooley • Feb. 10, 2025 -
Treasury responds to concerns about Musk ‘meddling’
A Treasury Department official sought to allay a senator’s concerns about DOGE staffers gaining access to the U.S. payments system, but sidestepped questions Tuesday. The issue escalated at a Wednesday hearing.
By Lynne Marek • Feb. 6, 2025 -
Gamers support CFPB video game payments rule
Video game players and their parents submitted comments to the Consumer Financial Protection Bureau saying they overspent, or lost their accounts to hackers.
By Patrick Cooley • Feb. 4, 2025 -
Chopra finally exits CFPB as Bessent steps in
The agency’s deputy director, Zixta Martinez, was initially named acting director, but a terse press release Monday designated U.S. Treasury Secretary Scott Bessent to that role.
By Dan Ennis • Feb. 3, 2025 -
PayPal, Amex and Wells Fargo shake up leadership
PayPal and American Express both said executives are leaving the company and Wells Fargo said a long-time payments executive is being replaced.
By Patrick Cooley • Jan. 31, 2025 -
Q&A
Worldpay tackles fraud-fighting in new ways
The payments processor is aligning with merchants, card issuers and networks to share transaction data and use AI to fight fraud.
By Lynne Marek • Jan. 30, 2025 -
Apple, Google coalition seeks to skirt payments rule
Tech advocacy groups argue the tech giants should not be subject to a Consumer Financial Protection Bureau rule because they aren’t payment companies, according to a lawsuit filed this month.
By Patrick Cooley • Jan. 29, 2025 -
AI promises 2025 advances for payments industry
The emerging technology will help merchants process payments faster and provide customers with more ways to pay, those who follow the payments industry say. It will also increasingly offer a defense against rising fraud.
By Patrick Cooley • Jan. 21, 2025 -
Amex pays $230M to resolve DOJ allegations
The credit card giant misrepresented features of some credit cards targeting small businesses and entered false information on card applications, the Justice Department alleged.
By Patrick Cooley • Jan. 16, 2025 -
Shift4 makes $4.7M in undisclosed payments to executives’ relatives
The payments were made over a three-year period beginning in 2020, and were not listed in some filings with the Securities and Exchange Commission. As a result, the company agreed to pay a fine under a settlement last week.
By Patrick Cooley • Jan. 16, 2025 -
Card fraud losses will increase over next decade
Fraud losses in card payments will continue to rise worldwide, the research firm Nilson Report said this month, predicting $404 billion in global losses over the next ten years.
By Lynne Marek • Jan. 15, 2025 -
Q&A
How AI makes payments faster, cheaper
Artificial intelligence can simplify payment transactions for merchants, Davi Strazza, president of North America for Adyen, said in an interview.
By Patrick Cooley • Jan. 15, 2025 -
Buy now, pay later users pile on debt, CFPB finds
Consumers who use BNPL take out multiple loans and have more personal debt than consumers who don’t use the payment method, according to a new report from the Consumer Financial Protection Bureau.
By Patrick Cooley • Jan. 14, 2025 -
Payments laws apply to online games, CFPB says
Video game companies that operate online gaming platforms must comply with the Electronic Fund Transfer Act, the agency said.
By Patrick Cooley • Jan. 13, 2025 -
CFPB picks FDX to set open banking standards
The nonprofit will craft standards for consumer data sharing between financial institutions for the next five years.
By Patrick Cooley • Jan. 10, 2025 -
FTV Capital raises $4B for more B2B investments
The venture capital firm with a fintech focus said the latest fundraising brings the total raised since its founding to $10.2 billion.
By Patrick Cooley • Jan. 9, 2025 -
Sezzle challenges critical research from short-seller firm
The buy now, pay later firm argues that a recent Hindenburg Research report highlighting a decline in users and merchant partners overlooks important context and details.
By Patrick Cooley • Jan. 8, 2025 -
How ‘frictionless’ payments may benefit, hurt consumers
Such digital payments can slash transaction times, improve data security and provide valuable insights into consumer purchasing behavior and preferences.
By Michael Brady • Jan. 6, 2025 -
BNPL payments rise with young, repeat users
Buy now, pay later users in the U.S. tended to be returning customers under 35 years-old, according to a new analysis from LexisNexis Risk Solutions.
By Patrick Cooley • Dec. 20, 2024 -
Visa spots tripling of fraud over holiday weekend
The card network attributed the spike in fraud partly to criminals adopting artificial intelligence to execute their schemes.
By Tatiana Walk-Morris • Dec. 19, 2024 -
CFPB takes aim at gambling card fees
The federal agency says credit card issuers are charging cash advances fees of at least $10 on gambling transactions, even if those transactions are small.
By Patrick Cooley • Dec. 19, 2024 -
BVNK raises $50M to fuel US expansion
The stablecoin startup’s plans, including a new office in San Francisco, coincide with the incoming crypto-friendly Trump administration.
By Tatiana Walk-Morris • Dec. 18, 2024