The Latest
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Stripe partners with Nvidia, Pepsi and Rivian
The payments software provider announced a slew of new partnerships on Wednesday, also with Amazon and AMC Networks.
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New York Governor signs gun code law
Gov. Kathy Hochul signed a new law Wednesday requiring merchants to use a gun code, saying it could help prevent mass shootings.
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Toast increases processing fees, adds surcharge feature
The digital restaurant payments provider raised processing fees for some restaurant clients. Separately, it’s aiding clients in adding surcharges on their customers’ orders.
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Global Payments embarks on ‘transition’ year
The payments processor expects to undertake possible divestitures, beginning this year, as part of an effort to jump-start revenue in subsequent years.
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MoneyGram attack exposed sensitive customer data
The attack led to a days-long outage in September. The money transfer firm hasn’t described the nature of the incident or said how many people have been impacted.
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Durbin jumps into Illinois interchange law fray
Sen. Dick Durbin threw his weight behind an Illinois law that would nix interchange fees on taxes and tips, supporting the edict in a court document filed Friday.
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OpinionHealthcare’s paper check disease
“The persistence of paper checks for patient refunds is not just an inconvenience — it's a symptom of a larger problem that threatens the very sustainability of healthcare organizations,” one software firm CFO writes in this opinion piece.
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Fiserv teams with Canadian company on open banking
Fiserv has allowed Zūm Rails to use its embedded finance system to bring open banking and instant payments to Fiserv’s U.S. business customers.
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Real-time payments to make uneven progress, report predicts
The number of banks receiving real-time payments will outpace the number of those sending payments through at least 2028, according to a new survey by the U.S. Faster Payments Council.
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Fiserv nets special banking charter in Georgia
The payments processor is only the second company to win the special bank charter since Georgia made it available.
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Retrieved from OCC.
OCC seeks to halt Illinois card interchange fee law
The Office of the Comptroller of the Currency blasted an Illinois law that prohibits credit and debit card interchange fees on tips and excise taxes.
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Oportun inks deal to sell credit card portfolio
The deal, expected to close in November, is a push by the online lender to pursue profitability by simplifying its business and focusing on its core products.
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Visa expected to temper competitive moves after DOJ action
The card network may bend to emboldened fintech rivals and more assertive merchants following the Justice Department’s antitrust lawsuit.
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Jonathan Drake/Reuters
Hurricane Helene aftermath prompts card, cash troubles
After the storm ripped through the southeastern U.S., consumers and merchants have been left grappling with card network outages and cash shortages.
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Courtesy of Uber
Mastercard to buy Minna Technologies
The card network will acquire the Swedish business in a bid to provide consumers with a centralized hub for managing their subscriptions.
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P2P payments tools lack transparency, consumer group says
Zelle, the popular peer-to-peer payment service, and rivals should be more upfront with consumers about the ability to ask for money back, Consumer Reports says.
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Visa boosts litigation funding ahead of US antitrust fight
The company added $1.5 billion to a litigation escrow account as it battles a Justice Department lawsuit and ongoing legal case with merchants.
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Lynne Marek/Payments Dive
Payments conferences to keep on your radar for 2025
Artificial intelligence, FedNow and the ISO 20022 standards are expected to be hot topics at next year’s events.
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Courtesy of Affirm
Affirm may offer discounts after Fed interest rate cut
The Federal Reserve’s interest rate reduction may give the company leeway to offer more consumers 0% interest or a lower APR, Affirm CFO Michael Linford said this week.
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Trump interest rate cap draws criticism
Fewer people would be approved for credit cards, and credit card issuers would offer fewer perks, opponents of the longshot proposal say.
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Courtesy of Adyen
Fed dissects consumer use of digital payments
While most U.S. households have a bank account, just under half use a nonbank payment service, Kansas City Federal Reserve Bank research says.
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Fiserv, Wells Fargo to end joint venture
The venture between the payments processor and the bank will expire in April, prompting a cash payment from one to the other.
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Retrieved from Lynne Marek on March 04, 2022
Moneygram faces backlog after outage
The international wire transfer company has restarted some services after a cyberattack, but is battling to fulfill transactions after taking its systems offline for much of the week.
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Permission granted by Andy Gerit
Visa to buy cybersecurity firm Featurespace
The cybersecurity acquisition is the latest move in a race by card networks to meet their clients’ needs in keeping up with fraud threats.
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FDX seeks to become open banking standard-setter
The Consumer Financial Protection Bureau will decide whether an organization’s practices are transparent and balanced enough to set standards for open banking.
