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    Big tech pushes passwordless for payments

    Google, Microsoft and Apple this month began a big, new push in their campaign for a passwordless standard that's aimed at improving digital identity verification, including for payments.

    By May 23, 2022
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    BNPL player Zilch expands to US

    Instead of collecting fees from retailers to move merchandise from their shelves, Zilch is linking with brands like Sephora and Nike to lure consumers looking to finance their purchases through installment payments. 

    By May 20, 2022
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    SEC enforcement attorney predicts 'a lot more fraud' in crypto markets

    The SEC will turn to litigation if needed to achieve “clarity” as it fights abuses in cryptocurrency markets, according to an attorney in the agency’s Enforcement Division.

    By Jim Tyson • May 17, 2022
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    Contractors turn to payment apps to speed billing

    Cloud-based and mobile-friendly, fintech solutions are poised to revolutionize how contractors pay and get paid.

    By Robyn Griggs Lawrence • May 3, 2022
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    Deep Dive

    BNPL players' losses grow as costs soar

    Buy now-pay later providers are having to pay a hefty price to keep up with surging consumer demand for their financing services, spending large sums to add new technology and more employees. As a result, their expenses are rising at a much faster rate than their revenue, meaning most of the major players are posting losses despite the BNPL mania.

    By May 3, 2022
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    Senate Democrats berate Zelle over alleged fraud

    In a letter to Zelle's CEO, two U.S. senators said the company's platform leaves consumers exposed to fraud, with little ability to recover lost funds. “Your company and the big banks who both own and partner with the platform have abdicated responsibility," they said.

    By Robin Bradley • April 27, 2022
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    Mastercard, Interos partner on risk management tools

    Mastercard's new partnership with the software provider is the latest in a string of added ties to fintechs aimed at expanding its payments and risk assessment tool offering.

    By Tatiana Walk-Morris • April 14, 2022
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    Inflation hands cards a mixed bag

    Higher spending due to inflation is poised to drive up credit card volumes, according to an S&P Global Market Intelligence report. Card issuers have been eager to see stronger loan growth, but if delinquencies rise, that could be concerning for the industry.

    By April 13, 2022
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    SEC issues guidance on crypto-asset accounting, disclosure

    As theft of crypto-assets rises, the Securities and Exchange Commission is pushing companies to publicly report on the potential costs of such crimes and efforts to curb hacking risks.

    By Jim Tyson • April 12, 2022
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    Visa urges cautious approach to BNPL regulations

    "The CFPB should tailor its approaches to preserve consumers’ and merchants' ability to access a wide variety of installment options and maintain competition among BNPL solutions," Visa said in commenting to the Consumer Financial Protection Bureau.

    By March 30, 2022
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    BNPL critics urge CFPB to protect consumers from payment app

    Proponents and opponents of buy now-pay later services are weighing in on how the new installment financing should be regulated after the Consumer Financial Protection Bureau asked for input. The federal agency is absorbing the views as it conducts an inquiry into the industry's business practices.

    By March 28, 2022
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    Stripe snags a new crypto customer

    Payments software juggernaut Stripe said it has landed crypto company Blockchain.com as a new customer and that it's aiming to aid the digital currency client in international expansion.

    By March 21, 2022
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    CFPB's Chopra blasts potential card hikes

    In a rare TV appearance, the director of the Consumer Financial Protection Bureau said that the payments industry isn't competitive enough and that fee hikes by the big card companies would add "insult to injury" at a time of inflation. He noted new fintech tools could ultimately be a benefit if they add competition.

    By March 14, 2022
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    New BNPL study raises concern about 'debt spiral'

    Some consumers are charging buy now-pay later installment payments to their credit cards, and that should serve as a "warning flag" to regulators, said three economists who authored the research paper.

    By March 10, 2022
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    White House lays out digital asset priorities

    The White House said Pres. Biden will deliver an executive order today explaining how the U.S. government will approach digital assets, laying out priorities for protecting U.S. consumers and businesses; ensuring a stable global financial system; and promoting American leadership in the use of the emerging technology. 

    By March 9, 2022
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    Visa races to rescue employees from Ukraine

    When Visa CEO Al Kelly got a message at church that Ukrainian President Volodymyr Zelenskyy was trying to reach him, "that was the initial sign to me about the pressure we would feel," he said. Aside from implementing sanctions, the card giant has been in a race to move employees out of Ukraine.

    By March 9, 2022
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    4 steps to avoid QR code fraud at your business

    Criminals are now exploiting the popularity of QR codes. Here's how to protect your business.

    March 8, 2022
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    Visa, Mastercard and PayPal suspend operations in Russia

    The payments giants all separately cut off use of their services in Russia, citing that country's invasion of Ukraine. "This war and the ongoing threat to peace and stability demand we respond in line with our values," Visa CEO Al Kelly said in a Saturday statement.

    By March 7, 2022
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    EU to restrict 7 Russian banks from Swift

    The sanctions reportedly won't include Sberbank, which said Wednesday it would pull out of the European market. The Single Resolution Board is liquidating the lender's Austria-based unit while units in other European countries have been sold.

    By Dan Ennis • March 2, 2022
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    Visa follows Mastercard in disclosing potential impact from Russia-Ukraine conflict

    Visa disclosed Wednesday that Russia and Ukraine made up 5% of its 2021 revenue. Mastercard earlier in the week called Russia and Ukraine "important contributors" to its business and said sanctions triggered by Russia's invasion of Ukraine could impact 6% of its revenue.

    By March 2, 2022
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    Visa, Mastercard block Russian banks from network

    The card giants said they've disconnected Russian banks from their international payment networks to comply with the slew of sanctions being imposed on Russia after its invasion of Ukraine.

    By March 1, 2022
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    FTC report shows consumer fraud losses jumped last year

    Consumers lost a whopping $5.9 billion to fraud in 2021, with bank payments and cryptocurrency transactions generating the highest losses, the government report said.

    By March 1, 2022
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    G-7 nations impose limited Swift sanctions

    Japan on Sunday joined a coalition of six nations and the European Union in imposing Swift money transfer system sanctions on a limited number of Russian banks.    

    By , Dan Ennis • Updated Feb. 27, 2022
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    Deep Dive

    US banks brace for stricter sanctions against Russia

    The Russian banks the U.S. targeted Tuesday account for only 5% of the country's total bank assets. But penalties aimed at larger banks of greater systemic importance may be in the offing.

    By Robin Bradley • Feb. 25, 2022
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    Payment companies mainly skirt Russia-Ukraine impact

    Payments industry executives likely aren't worrying too much about Russia's invasion of Ukraine, based on the amount of revenue coming from the region, at least not yet.

    By Feb. 25, 2022