The Latest

• 

  Fiserv, Capital One, others invest $150M in Melio

  Some of the corporate investors are also partnering with the accounts payable and receivable company they’re backing.

  Retail

• 

  Stablecoins face obstacles to widespread adoption

  The digital currencies could simplify cross-border payments, but consumers are wary of using them, payments and fintech executives say.

  Regulations & Policy

• 

  Paytronix acquired by Access Group

  The deal will expand the offerings available through Paytronix’s platform and help accelerate its growth, executives said.

  Restaurants

• 

  5 payments predictions from research firm Forrester

  Cash use worldwide will drop significantly next year, despite its U.S. persistence, the research firm Forrester predicts. Meanwhile, business-to-business acquisitions in the payments realm will pick up.

  Retail

• 

  Opinion

  Is the FTC targeting chargeback service providers?

  “For better or for worse, applying pressure to payments organizations to ferret out bad-merchant actors seems to be an effective way for the FTC to make private industry police the merchant marketplace,” writes an industry lawyer.

  Retail

• 

  Global Payments sells AdvancedMD for $1.1B

  The payments processor divested the unit as part of a plan to streamline the company’s business, and it’s targeting more sales, CEO Cameron Bready said.

  Retail

• 

  AI increases fraud risk, fintechs say

  Financial firms monitor for fraud by looking for unusual activity, but an artificial intelligence model can be trained to transact like a real person.

  Regulations & Policy

• 

  BofA discloses CFPB probe of Zelle payments

  Bank of America is responding to a Consumer Financial Protection Bureau inquiry related to the bank’s processing of electronic payments through Zelle, the lender disclosed in a regulatory filing.

  Retail

• 

  Visa CEO stands fast against DOJ

  Visa CEO Ryan McInerney took a defiant stance Tuesday regarding the Justice Department’s lawsuit against the card network company.

  Banking

• 

  Fiserv CEO dishes on making mergers work

  In addition to pulling back the curtain on integrating Fiserv acquisitions, Frank Bisignano offered predictions on plastic cards and AI at a conference Monday.

  Banking

• 

  MoneyGram cites cash-to-digital conversion opportunity

  A MoneyGram executive speaking at the Money 20/20 conference cooed about the trillion-dollar opportunity to lure cash users to digital options, but didn’t mention the company’s recent systemwide outage.

  Retail

• 

  How open banking will shape the future of payments

  The Consumer Financial Protection Bureau released its final open banking rule this month, leading the payments and financial services industries to begin preparing for a new era in data-sharing.

  Banking

• 

  MoneyGram replaces CEO, naming former Walmart executive to the role

  The money transfer company named the new CEO just weeks after a cyberattack led to a systemwide shutdown of its services for several days.

  Retail

• 

  Chopra defends CFPB open banking rule in face of lawsuit

  Consumer Financial Protection Bureau Director Rohit Chopra called out bank litigants that sued over the rule, saying he didn’t think they’d even read it.

  Banking

• 

  Cable TV, advertisers ask appeals court to block FTC ‘click-to-cancel’ rule

  The companies call the new regulation arbitrary and capricious, carrying a presumption that subscription services are deceptive.

  Retail

• 

  Capital One-Discover deal draws NY scrutiny

  New York Attorney General Letitia James is probing the proposed acquisition’s effects on competition, arguing “often vulnerable New Yorkers with subprime credit scores” could be negatively impacted.

  Banking

• 

  Pay-by-bank to be used for bills, Plaid CEO predicts

  Plaid CEO Zach Perret expects consumers to use pay-by-bank services for mortgage and utility payments, but is skeptical they will be used to pay at restaurants or for groceries anytime soon, he said.

  Banking

• 

  Finix eyes competition with rivals like Stripe

  The payment processor said Thursday that it raised $75 million and is seeking to grab a bigger slice of a payments market dominated by larger rivals.

  Retail

• 

  Opinion

  Illinois should abandon interchange law

  “Illinois has made a hasty decision that, if implemented, would have government change our payments system that functions so well that we barely notice it,” writes a trade group CEO.

  Retail

• 

  Industry balks at FDX standard-setting monopoly

  Regulators and industry participants worry that FDX will have an unfair monopoly and will advantage its own members if no other organization applies.

  Banking

• 

  Payments trade groups caution World Bank on digital infrastructure

  U.S. payments associations urged the World Bank this week to consider interoperability and private sector involvement in its development of a digital public infrastructure.

  Banking

• 

  Goldman, Apple to pay CFPB $89.8M over Apple Card issues

  The bank and tech firms failed to address disputed transactions in their joint Apple Card program, and misled cardholders about interest-bearing products, the bureau alleged.

  Retail

• 

  Trade groups challenge CFPB’s open banking rule on Day 1

  Liability over data security emerges as a top concern as the Bank Policy Institute and a Kentucky trade group and bank sue the bureau, arguing that is has overreached its authority.

  Banking

• 

  Pipe pursues international expansion

  The digital cash advance provider to small businesses deepened its ties to the British firm GoCardless this week as part of its quest to expand outside the U.S. market.

  Banking

• 

  California to begin oversight of EWA

  The state instituted regulations Tuesday that will require earned wage access providers to register and be regulated as of next February.

  Banking

More stories