FedNow delivers new risk management tools

Alongside those instant payment security features, the Federal Reserve increased the maximum payment that can be sent over the real-time system to $1 million.

Visa loses bid to toss DOJ debit lawsuit

A New York federal judge ruled Department of Justice allegations against the card network over an illegal monopoly in the debit card market are plausible at this stage of litigation.

Melio swallowed in $2.5B deal

The New York bill-pay company is set to be acquired by Xero, a New Zealand provider of accounting and payroll management software for small businesses.

Stablecoins may push aside payments

Digital assets have the power to “disintermediate” the financial system by bypassing traditional payment rails, according to a Deloitte report.

Klarna, Google join forces

The Swedish buy now, pay later business integrated its payments tool into the search giant’s digital wallet, making its services more widely available.

Court approves $197M ATM settlement

The class action agreement covers consumers and ATM operators who alleged that Visa and Mastercard restrained competition in the cash machine market.

CFPB medical debt rule weighed

With additional briefs in hand, a federal judge will consider a Consumer Financial Protection Bureau rule that bars medical debt on consumer credit reports.

Fiserv launches new stablecoin

The payments processor wants to be an early mover as banks, the U.S. government and other payments players press for stablecoin adoption.

Shift4 buys Smartpay for $180M

The payments services provider bought the distribution network business to keep building its presence in Australia and New Zealand.

Walmart settles FTC money transfer fraud case

The $10M deal resolves US allegations that the retail giant turned a blind eye to scams and fraud that cost consumers hundreds of millions of dollars.

Senate official blocks CFPB defunding in Trump’s megabill

Measures to defund the Consumer Financial Protection Bureau and to reduce salaries at the Federal Reserve are outside the limits of Senate reconciliation procedures, the chamber’s parliamentarian ruled Thursday.

JPMorgan, Amex flash new cards

Both companies have teased premium card refreshes, reflecting the race for high-end card holders.

Tensec raises $12M to boost growth

Meanwhile, other cross-border payment firms have raised millions in recent weeks to bolster their international expansion.

Don’t make Americans pay to pass financial data

“Pausing or gutting Rule 1033 wouldn’t just stall innovation,” writes one industry executive who has international perspective. “It would send a message that the system works best when it’s closed.”

Amex, Fiserv cite inflation benefit

“Modest” price increases benefit card and payment companies as long as the economy doesn’t trip into a recession, executives say.

Payoneer CEO sees trade bumps as short-term

Entrepreneurs will adapt rapidly amid the global trade disruption, and geographic reach is key to B2B cross-border payments, CEO John Caplan says.

Ramp raises $200M

The maker of software to oversee corporate spending and procurement is now valued at $16 billion with its latest capital raise.

Federal Reserve targets fraud

Federal agencies took aim at payments fraud Monday, proposing more collaboration, including with states, to combat the rising problem, especially with respect to paper checks.

Cantaloupe scooped up for $848M

The self-checkout kiosk company was purchased by 365 Retail Markets, a firm focused on self-service technology and backed by private equity firm Providence Equity Partners.

MoneyGram settles NY AG lawsuit

The money transmitter will pay a $250,000 civil fine to resolve claims it violated consumer laws with its remittances practices.

Illinois delays interchange fee law

Gov. JB Pritzker has signed a bill that delays implementation of a controversial new law that would bar interchange fees on taxes and tips in Illinois.

Open banking to survive Trump, fintechs say

Consumers and financial services firms will pursue their mutual interests in sharing personal data, despite a move by the Consumer Financial Protection Bureau to extinguish the trend, industry experts contend.

Credit card bill crusade persists

Sens. Dick Durbin and Roger Marshall may have lost their latest bid to win a congressional vote on the Credit Card Competition Act, via stablecoin legislation, but proponents are undeterred.

CFPB, consumer groups clash over BNPL

The battle over buy now, pay later — whether it’s helpful or hurtful to users — persists even after the Consumer Financial Protection Bureau last month withdrew its rule regulating such services.

NY legislature backs bill to protect cash

The state’s two chambers voted in favor of a bill that requires New York retailers to accept cash, following a trend set by other states and cities.