PAYMENTS NEWS
Apple, Google and Venmo fight new U.S. plan to monitor payment apps
May 2, 2024
Their lobbying campaign targets a federal push to subject some tech companies to the same rigorous oversight as banks. One company — Block, which owns Cash App — is also under investigation.
Real-time consumer payments need standards to rise
May 2, 2024
To make instant payments a reality for consumers, the payments industry must work together to develop a common framework, Walmart, JPMorgan Chase and other executives say.
Potential Merchant Savings on Swipe Fees Is the Latest Payments Battleground
May 1, 2024
The war over the proposed Credit Card Competition Act shows no signs of abating as combatants on both sides of the fence continue their efforts to sway legislators and public opinion on the matter of card-acceptance costs.
FraudClassifier Model: Finding Fraud Across Payment Silos
May 1, 2024
“The FraudClassifier model will help you understand fraud trends you did not know you had in your institution.”
Real-time consumer payments need standards to rise
May 1, 2024
To make instant payments a reality for consumers, the payments industry must work together to develop a common framework for the transactions, top industry executives say.
Mastercard Takes AI-Driven Fraud Defense to Next Level
Apr 25, 2024
Mastercard is bringing an artificial intelligence (AI)-driven, partnership approach to detecting and preventing identity and payments scams before they can result in victimizing consumers.
PayU Receives RBI Authorization to Operate as Payments Aggregator
Apr 25, 2024
PayU has received in-principle authorization from the Reserve Bank of India (RBI) to operate as a payments aggregator.
Visa profits jump as struggling customers turn to plastic to pay bills
Apr 25, 2024
Credit card usage has increased dramatically in the US in recent months, as customers increasingly struggle to pay for everyday items and charge them instead to cards.
CFPB Head Wary of Big Credit Card Mergers
Apr 25, 2024
America’s leading consumer finance watchdog is skeptical about giant mergers between credit card companies.
Frictionless payments: adopting technological advancements to tackle security concerns
Apr 23, 2024
Ray Shinzawa, Managing Director at JCB International (Europe), discusses how merchants can adopt technological advances to offer frictionless payments and address security concerns.
Mastercard Launches Mobile Virtual Card App to Simplify Travel and Business Expenses
Apr 19, 2024
Mastercard announced a new mobile virtual card app that enables virtual commercial cards to be seamlessly added to digital wallets. The innovative app is designed to offer financial institutions more choice in how they deliver the secure and sustainable contactless payment solutions that companies increasingly expect.
Visa Launches Enhancements for its Acceptance Platform
Apr 19, 2024
Visa Inc. on Wednesday unveiled enhancements intended to further remove friction from the customers’ payment experience for merchants of all sizes.
US senators introduce new stablecoin bill
Apr 18, 2024
For months, Senators Kirsten Gillibrand and Cynthia Lummis had hinted that they were preparing legislation to establish guardrails for stablecoin issuers and users.
US, Europe lock arms on payments regulation
Apr 16, 2024
U.S. and European regulators have joined forces to monitor digital payment concerns, including those related to buy now, pay later financing and big tech market participation.
Get Set for the Passage to Passkeys
Apr 12, 2024
The technology promises to thwart cyberthieves while simplifying authentication for consumers.
Schumer presses Capital One, Discover on merger deal
Apr 9, 2024
Senate Majority Leader Charles Schumer, D-N.Y., sent a letter to the CEOs of Capital One and Discover asking for additional information regarding the companies' proposed $35 billion merger.
Mobile Wallets and Contactless Payments Growing in Popularity, NFC Forum Says
Apr 8, 2024
Consumers are not only favoring contactless payments more, they are relying more on their mobile wallets to initiate payments, according to the NFC Forum’s bi-annual Near Field Communication Usage and Adoption study.
The CFPB Targets Mobile Wallets
Apr 8, 2024
The Consumer Financial Protection Bureau is at it again. If you develop or manage mobile-payment apps, you might want to pay attention. The agency’s proposed rules, aimed at so-called larger participants, may ensnare you, even if you’re only a fraction of the size of, say, Google or Apple.
Time to Embrace FedNow’s Request for Payment
Apr 9, 2024
Request for Payment (RFP) isn’t a novel concept in banking or payments, but it will drive a lot of innovation over the next decade. Many institutions will rely on RFP functionality in the new FedNow service as their primary mechanism for real-time payments because it’s a data-rich, low-risk way to enable fast payments.