The Latest
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Kayla Bartkowski via Getty Images
CFPB plans to spike BNPL rule
The buy now, pay later industry sued to block the consumer-friendly rule, arguing that the services are not the same as those offered via credit cards.
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Spencer Platt via Getty Images
Swipe fee foes find legislative support in almost a dozen states
The battle to curb interchange fees has migrated from Illinois across the nation, with bills in 11 states seeing robust lobbying.
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Lynne Marek/Payments Dive
Discover CEO may reap $2.4M bonus
Michael Shepherd will remain as interim chief executive officer potentially through June, and receive a $2.4 million cash bonus if the sale to Capital One closes by then.
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Courtesy of Affirm
Affirm COO: Walmart deal was “uneconomic”
Walmart makes up a relatively small portion of Affirm’s business that the buy now, pay later company can make up elsewhere, Chief Operating Officer Michael Linford said.
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Supatman via Getty Images
Mercury raises $300M
The payments startup, which has backing from Marathon Management Partners and Andreessen Horowitz, aims to use the funds to expand its clientele and increase its profitability.
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Permission granted by Bolt
Executive Shuffle: Bolt, MoneyGram and DailyPay
New C-suite appointments so far this year demonstrate the payments industry’s efforts to digitize their offerings and cater to small business clients.
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hapabapa via Getty Images
CFPB nixes filing in case tied to Electronic Funds Transfer Act
The bureau’s brief was withdrawn because it “advances an interpretation of the law that has never been embraced by any federal court prior.”
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Andrey Popov via Getty Images
Utah governor signs EWA law
The state joins a pack of others that have passed industry-friendly laws seeking to oversee earned wage access providers and their services.
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Drew Angerer via Getty Images
Block shrinks workforce 8%
The job cuts appear aimed at making the company more efficient, according to TD Cowen analysts.
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Andrew Harnik via Getty Images
CFPB predicts late fee lawsuit settlement
The agency’s new leadership believes it can settle a 2024 lawsuit banks and business groups filed over an $8 cap on credit card late fees.
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Chip Somodevilla / Staff via Getty Images
Republicans air CFPB grievances, jockey for agency change
Kentucky Republican Rep. Andy Barr called the bureau an “Orwellian predator” at a House subcommittee hearing where several lawmakers proposed reforms.
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Andrew Harnik/Getty Images via Getty Images
Trump calls on federal gov’t to banish paper checks
The White House issued an executive order Tuesday calling on the federal government to cease using paper checks by September, except in certain circumstances.
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Eugene Gologursky / Stringer via Getty Images
Fiserv CEO vows to keep Social Security Administration intact
Senate Democrats questioned Frank Bisignano on privatization of the federal agency’s function during a confirmation hearing Tuesday.
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Courtesy of Revolut Press Kit
Revolut US CFO aims for growth, maturity ahead of U.S. entry
Balancing agility and compliance is crucial for the digital banking platform as it seeks to expand into markets like the U.S., Revolut Chief Financial Officer Max Lapin said.
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Caitlin Mullen/Payments Dive, data from Fiserv
Fiserv CEO faces fire for Social Security cuts
Two Senate Democrats are calling on Frank Bisignano to oppose any cuts to Social Security ahead of hearings on his nomination to lead the agency.
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Scott Olson via Getty Images
Banks bash Illinois trend-setting law on card swipe fees
Banks and credit unions are trying to kill a new Illinois law banning interchange fees, with a court filing, as multiple states seek to emulate the legislation.
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Permission granted by Gabrielle Saulsbery
Q&AFintechs egg on ‘willingness to challenge norms,’ Bolt president says
Justin Grooms expects fintechs to keep pushing the payments industry forward with more competition for legacy players.
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AndreyPopov via Getty Images
Arkansas, Utah move ahead with EWA laws
The two states are the latest to pass legislation addressing workers’ growing practice of using earned wage access to tap their income before a regularly scheduled payday.
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Anna Moneymaker via Getty Images
CFPB seeks extension to respond to nonbank oversight lawsuit
The Consumer Financial Protection Bureau asked a federal court for more time to respond to a lawsuit over its authority to oversee big tech payments players.
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Courtesy of Affirm
Affirm, other BNPL players ratchet up credit bureau reporting
At least three buy now, pay later firms have begun reporting consumer data on installment financing to TransUnion or Experian, and another gives customers the option of reporting that data.
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Laurel Deppen/Payments Dive
Bank transfer fraud losses outpace crypto
The value of fraud losses last year was highest for bank transfers and payments, followed by cryptocurrency transactions, according to a report from the Federal Trade Commission released last week.
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SolStock via Getty Images
Retailers push payment modernization
A KPMG survey found that a majority of retailers plan to keep updating their payment programs to keep up with consumer tech demands.
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Lynne Marek/Payments Dive
Mastercard courts community banks
The card network has initiated a new partnership with the Independent Community Bankers of America that will extend its services to that group’s financial institution members.
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andreswd via Getty Images
Payments players landed less capital in 2024: S&P report
Venture capitalists invested 47% fewer dollars, compared to 2023, despite most of the startups posting increased revenue last year.
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Scott Olson / Staff via Getty Images
Discover cards now accepted at Airwallex merchants
A partnership gives the card network a wider reach at a time when its proposed merger with Capital One still awaits regulatory approvals.
