The Latest

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    Private plaintiffs follow DOJ’s Apple antitrust case

    The follow-on class actions are substantively similar to the federal government’s case, making them dependent on the agency’s lead in breaking the company’s smartphone stranglehold.

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    Sean Gallup via Getty Images
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    DOJ calls Apple card fees ‘significant expense’ for banks

    The tech giant’s fees for credit card transactions “cut into funding for features and benefits that banks might otherwise offer smartphone users,” the Department of Justice said in suing the company earlier this month.

  • The Capital One logo is displayed on the side of its headquarters in McLean, Va.
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    Win McNamee via Getty Images
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    Capital One pledges to give Discover’s network a boost

    Dominated by Visa and Mastercard, card network markets “sorely need an injection of competitive rivalry,” Capital One argued in its application to regulators to purchase Discover.

  • JPMorgan Chase sign in front of building in street level view.
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    Chris Hondros via Getty Images
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    JPMorgan seeks embedded payments niches

    The biggest U.S. bank aims to offer embedded payments software solutions in more industries for its corporate clients.

  • Visa cards stacked and splayed
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    Justin Sullivan via Getty Images
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    How Visa handled ‘BidenCash’ card fraud incident

    The card network giant identified 556,000 card accounts that were put at risk as a result of the cybercrime ring BidenCash’s release of data online in December.

  • Businessmen use Bitcoin to lure others into a trap
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    wenjin chen via Getty Images
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    Crypto fraud losses rose to $3.9B in 2023, a 53% yoy increase: FBI

    SEC enforcement actions against cryptocurrency players were up last year, but the commission is under attack for not issuing new rules for the industry.

  • A Capital One sign is seen
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    Joe Raedle / Staff via Getty Images
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    Advocates urge transparency in Capital One-Discover review

    More than 30 organizations demanded the deal not be subject to expedited federal review and that public hearings be held in the largest lending markets for both Capital One and Discover.

  • The Wisconsin State Capitol dome reflecting in a steel and glass building
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    YangYin via Getty Images
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    Wisconsin passes EWA law as states’ paths diverge

    Wisconsin became the third state to pass a law requiring that earned wage access providers be licensed, and leaving the payments unregulated under lending laws.

  • Closeup shot of a woman paying using NFC technology in a cafe
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    Cecilie Arcurs via Getty Images
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    Digital wallets to overtake debit cards in stores: report

    Having already dominated e-commerce transactions, digital wallets are projected to overtake at least one traditional form of payment in stores, according a Thursday report by Worldpay.

  • A mailbox is overflowing.
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    ANGEL RAMIREZ/iStock via Getty Images
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    ABA, U.S. Postal Services jointly combat check fraud

    American Bankers Association and the U.S. Postal Inspection Service are working together to educate postal and banking employees as well as consumers on the rising form of fraud.

  • Screenshots of Amazon mobile app showing how to add venmo as payment option.
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    Courtesy of Amazon
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    Column

    PayPal’s new CEO takes the Venmo challenge

    PayPal has been striving for more than a decade to better connect Venmo to merchants and make it pay off. Now, a new CEO has inherited the challenge.

  • A man standing in front of a black background with the outline of the Apple logo
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    Justin Sullivan via Getty Images
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    DOJ sues Apple over antitrust violations

    The tech giant called the suit a threat to its identity and principles, vowing to "vigorously defend against it.”

  • EU-US agreement
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    Justin Sullivan via Getty Images
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    Meta’s payment plays may pay off this year: report

    A partnership between tech giants Meta and Amazon “could represent the tipping point of transforming social media into a transaction platform,” Mizuho Securities analysts said in a report this week.

  • Credit card logos displayed in a window.
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    Scott Olson via Getty Images
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    Fed banks analyze consumer use of card promos

    New research from the Philadelphia and Boston Feds finds that consumers are cycling through low APR credit card offers.

  • Pixelated U.S. paper currency on dark background
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    dem10 via Getty Images
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    New Nacha rules strike at push-payment fraud

    “With respect to transaction monitoring for fraud, it would no longer be acceptable to do nothing,” Nacha Executive Vice President Michael Herd said.

  • Dollar bills and finance and banking on digital stock market financial exchange
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    SARINYAPINNGAM via Getty Images
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    Clearing House’s ACH growth rate outstrips Fed

    Automated payments volume processed by The Clearing House grew at a faster rate than at the Federal Reserve last year.

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    Courtesy of Mastercard
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    Mastercard extends tie to Alipay

    The card giant said the expanded partnership will let the Chinese digital wallet company’s 1 billion users send payments to 180 markets.

  • Two hands holding credit cards.
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    Joe Raedle via Getty Images
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    Ballooning credit card balances loom over retail sales

    The level of debt may surpass the all-time record this year, even when adjusted for inflation, some analysts say.

  • Photo of actor-entrepreneur Ryan Reynolds
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    Courtesy of FuboTV
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    Nuvei forms committee to evaluate ‘strategic alternatives’

    The Canadian payments company confirmed it’s in talks about a potential transaction with a third party, noting the committee will explore possibilities.

  • Afterpay logo on a phone screen
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    Courtesy of Afterpay
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    Afterpay extends reach beyond apparel

    The Block-owned buy now, pay later provider said its expansion is a response to younger consumers looking for new tools to manage inflation.

  • A woman using a mobile phone with online transaction appl
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    marchmeena29 via Getty Images
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    Marqeta CFO touts EWA expansion

    The card-issuing fintech has seen adoption of its debit card-linked EWA product increase as hourly workers at Walmart and Uber have been added, CFO Mike Milotich said.

  • Person taps credit card at payment terminal
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    Mykola Pokhodzhay via Getty Images
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    Q&A

    FreedomPay doubles down on gateway focus

    The company, which provides point-of-sale payments and other technology services to merchants, isn’t interested in handling acquiring, said President Chris Kronenthal. 

  • Fiserv Milwaukee headquarters
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    Retrieved from Business Wire on March 14, 2024
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    Fiserv searches for ‘tuck-in type’ deals

    Despite a focus on smaller acquisition options, the processor doesn’t feel confined to a particular price range, CFO Bob Hau suggested Thursday.

  • Consumer Financial Protection Bureau Director Rohit Chopra standing at a podium on stage.
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    Lynne Marek/Payments Dive
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    CFPB warns of ‘dangers’ on standards for open banking

    “We know dangers exist when more powerful players weaponize industry standards,” Consumer Financial Protection Bureau Director Rohit Chopra said in advance of finalizing an open banking rule later this year.

  • Bank Nigeria Africa
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    Benson Ibeabuchi via Getty Images
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    Opinion

    Fintech founder backs Google, Apple

    “It’s easy for giant app companies to pick fights with Apple and Google, but when billionaire companies fight about who gets richer, it’s usually the little guy that loses,” writes CashEx’s CEO.