PAYMENTS NEWS
A2A Payments A Growing Force In Payments
Mar 23, 2023
Account-to-account payments is becoming a growing force in the payments landscape, totaling $525 billion in global e-commerce transaction value in 2022, up from $463 billion in 2021, a 13% increase, according to the FIS Global Payments Report 2023. The volume was funneled through about 70 real-time payment schemes providing high-speed payment rails, the report says.
White House Economic Report Shifts Stance on Crypto from Neutral to Negative
Mar 23, 2023
It’s increasingly looking like the fed is trying to put the crypto sector to bed.
Second Circuit rules that CFPB's funding is constitutional
Mar 23, 2023
A federal appeals court ruled Thursday that the Consumer Financial Protection Bureau's funding is constitutional, adding another twist to a separate challenge to the agency's funding that the Supreme Court has agreed to hear.
4D Chess in Card Payments
Mar 23, 2023
Least cost routing, the siren song of network tokenization, and the future of debit card payments
Standardization of Credit Reporting and Consumer Protection Will Help BNPL Scale
Mar 23, 2023
The exploding use of buy now, pay later (BNPL) needs to have some oversight governing that growth.
Curbside Pickup Pops 66% in US as Delivery’s Lead Erodes
Mar 23, 2023
As home delivery slowly loses its lock on getting online orders into the hands of consumers, the pickup economy is gaining, as we find in new research.
Data lakes: Key to the modern data management platform
Mar 23, 2023
Data lakes influence the modern data management platform at all levels. Organizations can gain faster insights, save costs, improve governance and boost self-service data access.
Why Mercedes Benz Is Building the Operating System for In-Car Payments
Mar 20, 2023
The idea of the car as a software platform on wheels is not new. The idea of the car as a commerce operating system is. Mercedes Benz, which traces its history to 1886 and Karl Benz’s creation of the first combustion engine in Germany, is developing an in-house eCommerce ecosystem, complete with its own operating system.
How to Fight Fraud While Still Enabling a Great Online Customer Experience
Mar 17, 2023
The digital economy and online shopping continue to grow at a rapid pace, as more and more consumers become comfortable transacting in a digital environment. However, with this rise in popularity comes a concurrent rise in digital fraud.
Meijer, Flashfood expand tie-up to include SNAP payments
Mar 16, 2023
Meijer has expanded its Flashfood partnership to accept SNAP benefits through the tech company’s app, making it the first grocer to do so, according to a Tuesday press release.
61% of Millennials Want Real-Time Payments — the Challenge Is Acceptance
Mar 16, 2023
Making digital payments has become an everyday process for millions of consumers worldwide, representing a giant leap in convenience, security and accessibility over traditional methods such as cash or payment cards. Simply having digital payments is not enough, however. More than ever before, speed differentiates a good payment experience from a bad one in the eyes of consumers.
FedNow instant payments platform will be live in July, central bank says
Mar 16, 2023
The Federal Reserve's long-anticipated instant payments system will go live in July.
Mastercard testing quantum computing for loyalty and rewards
Mar 10, 2023
The retailer loyalty market is massive — valued at about $142 billion, according to Research and Markets Global Loyalty report — creating a need for even more powerful computing to make the most of the customer data that's used to offer incentives.
Powell says wholesale digital dollar may bypass Congressional approval
Mar 10, 2023
On Wednesday, the US House Committee on Financial Services held a hearing with the Chair of the Federal Reserve, Jerome Powell. During this semi-annual monetary policy report, Mr. Powell said that a wholesale central bank digital currency (CBDC) might bypass Congress and be issued without approval. The Chair also noted that a CBDC is still years away.
Federal Reserve Setting Up New Squad of Crypto Specialists
Mar 10, 2023
Michael Barr, the Fed’s vice chairman for supervision, said the central bank is trying not to stomp on crypto innovation and sees the need for stablecoin controls.
House Republicans target the CFPB as the agency takes aim at ‘junk fees’
Mar 10, 2023
Members of the House Financial Institutions and Monetary Policy Subcommittee attacked the Consumer Financial Protection Bureau and its oversight of “junk fees” during a meeting analyzing the bureau’s regulatory policies.
Who Is Janice Eberly, Leading Candidate for a Top Federal Reserve Job?
Mar 10, 2023
Former Obama administration official has studied effects of Fed stimulus policies
Visa, Mastercard pause work on code to track gun purchases
Mar 9, 2023
Visa Inc and Mastercard Inc have decided to pause implementing a plan that would track transactions at firearms and ammunition stores.
North Texas Lawmakers File ‘Swipe Fee Fairness' Bills to Help Small Businesses
Mar 9, 2023
According to the Texas Restaurant Association -- which is supporting the measure -- the swipe fee fairness legislation will save Texas businesses over $587 million a year without creating any new costs for the government or Texas consumers.
Fed Chair Jerome Powell Says US will have Real-Time Payments “Very Soon”
Mar 9, 2023
Fed Chair Jerome Powell says the US will have real-time payments “very soon.” Moreover, Powell spoke on the potential integration of a CBDC that won’t arrive for “years,” whereas the implementation of real-time payments for all banks is realistically close.