PAYMENTS NEWS
Swift and CapGemini work on CBDC gateway to existing payment networks
May 25, 2022
Interbank messaging network Swift is working with Capgemini to explore ways to interlink the multiple domestic-based CBDC networks emerging worldwide with existing payment infrastructures for seamless cross-border payments.
CFPB to Push for Consumer Finance Innovation, Competition
May 25, 2022
The Consumer Financial Protection Bureau (CFPB) has opened the Office of Competition and Innovation, to promote more competition and look into stumbling blocks for new marketing entrants, a CFPB press release said Tuesday (May 24).
Big tech pushes passwordless for payments
May 23, 2022
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.
CFPB is 'no longer sleeping' on payments, former regulators say
May 20, 2022
For years, there were usually less than a handful of cases at the Consumer Financial Protection Bureau that involved payments. That is rapidly becoming a thing of the past.
Retailers call out Visa and Mastercard for fee hikes that could make inflation worse
May 19, 2022
Consumers could soon see even higher prices at some stores, after credit card giants Visa and Mastercard raised their "swipe fees" -- generating an additional cost that some retailers could be forced to pass on to their customers.
Crypto crash stokes some financial crisis fears
May 18, 2022
The crypto market has shed almost $2 trillion in value, triggering some concern it could hurt the larger economy. Experts aren't too worried ... yet.
Apple Tap to Pay spotted in the wild
May 18, 2022
Apple's new Tap to Pay on iPhone feature has been spotted in the wild at the Apple Park Visitor Center in Cupertino, California.
Mastercard unveils Biometric Checkout Programme
May 18, 2022
Mastercard has established a technology framework to help set minimum standards for biometric payments at the checkout.
Crypto’s meltdown refocuses regulator attention on the industry
May 17, 2022
Financial watchdogs want Congress to authorize new rules for stablecoins but may act on their own if lawmakers dither
Three US cash trends persist, Fed report says
May 16, 2022
U.S. consumers’ use of cash for payments edged up slightly last October, relative to 2020, but remained below 2019 levels, continuing a longer-term trend of consumers opting for alternatives, according to a Federal Reserve Bank report issued this month.
Are restaurant operators eating too many fees?
May 16, 2022
“I’ve been disappointed to see how the payments industry is constantly looking for ways to profit off of small businesses in sneaky ways,” says Copper CEO Dickson Chu.
World Bank forecast for cross-border payments rises
May 16, 2022
The international bank expects remittances to climb 3.7% to $802 billion this year. That’s more than was previously expected and the increase is partly due to the upheaval in Ukraine.
Grocery shoppers hunger for buy now/pay later, Affirm says
May 16, 2022
Affirm reported healthier earnings in the most recent quarter than it had in previous earnings seasons, but some of investors' fresh optimism comes from an unusual source: the grocery aisle.
Apple launches the first driver's license and state ID in Wallet with Arizona – Apple
May 16, 2022
Apple launches the first driver’s license and state ID in Wallet with Arizona Additional states to follow, including Colorado, Hawaii, Mississippi, Ohio, and the territory of Puerto Rico
Google's payments strategy is taking another twist as it battles Apple
May 13, 2022
The smartphone giants are trying to lock in mobile users with a digitized version of the physical wallet for drivers’ licenses, tickets and credit cards.
Alternate Fuels Are Leading To Alternate Fraud – How Can We Be Prepared for the Adoption of Future Vehicle Technologies?
May 13, 2022
Building a greener and more sustainable economy means consumers need to change how they consume, and businesses need to change how they produce and adapt their offerings to better meet consumer demand. Many businesses are realising they will benefit from cleaner and safer production, increased resource efficiency, as well as more transparency and corporate responsibility.
Klarna pushes hybrid shopping as retailers emerge from pandemic
May 13, 2022
The buy now/pay later provider Klarna Bank is pushing further into the retail industry by offering traditional stores a platform to stream and video-chat with online customers.
U.S. Senate confirms Powell for second term as Fed chief in bipartisan vote
May 13, 2022
Powell, who was renominated by U.S. President Joe Biden, drew bipartisan backing in the divided Senate, with a final tally of 80 senators in favor of his confirmation and only 19 opposed.
Google Chrome adds virtual credit card numbers to keep your real ones safe
May 12, 2022
Google today announced that its Chrome browser will now offer users the ability to use a virtual credit card number in online payment forms on the web. These virtual card numbers allow you to keep your “real” credit card number safe when you buy something online since they can be easily revoked if a merchant’s systems get hacked. A number of credit card issuers already offer these virtual credit card numbers, but they are probably far less mainstream than they should be.
Senate approves Lisa Cook as first Black woman on Federal Reserve board of governors
May 11, 2022
The Senate confirmed economist Lisa Cook on Tuesday to serve on the Federal Reserve's board of governors, making her the first Black woman to do so in the institution's 108-year history.