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.

By Lynne Marek • Oct. 29, 2024

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.

By Patrick Cooley • Oct. 29, 2024

Explore the Trendline➔

Digital wallets proliferate as features advance

As more companies aim to offer digital wallets the rise in competition is sharpening their features.  

By Payments Dive staff

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.

By Justin Bachman • Oct. 28, 2024

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.

By Patrick Cooley • Oct. 28, 2024

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.

By Patrick Cooley • Oct. 28, 2024

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.

By Jodie Kelley • Oct. 25, 2024

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.

By Caitlin Mullen • Oct. 25, 2024

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.

By Patrick Cooley • Oct. 24, 2024

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.

By Tatiana Walk-Morris • Oct. 24, 2024

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.

By Gabrielle Saulsbery • Oct. 23, 2024

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.

By Caitlin Mullen • Oct. 23, 2024

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.

By Lynne Marek • Oct. 23, 2024

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.

By Lynne Marek • Oct. 23, 2024

Oracle debuts healthcare payments service

The new system enables patients to pay their medical bills via cards or digital payments, and helps medical facilities track revenue.

By Tatiana Walk-Morris • Oct. 22, 2024

CFPB issues final rule on open banking

In a change from last year’s proposal, payment apps are included under the rule. Financial institutions with less than $850 million in assets are exempt.

By Dan Ennis • Oct. 22, 2024

Amex Q3 restaurant spending growth edges down

The card issuer has recently focused on courting cardholders hungry for restaurant services, but last week reported spending growth in that category had waned.

By Lynne Marek • Oct. 21, 2024

Fiserv may grab competitive edge with new bank charter

The payments processor can undercut rivals on price because it won’t be paying bank fees, say industry consultants.

By Patrick Cooley • Oct. 21, 2024

PayPal drops fundraiser tool on app

The payments pioneer is discontinuing a program through which app users could post fundraising drives, often for personal needs. Other options for donating will remain.

By Lynne Marek • Oct. 18, 2024

Employees who lean on EWA face increased fees

Many employees who use earned wage access services are high-frequency customers who end up with higher overdraft costs, said a Center for Responsible Lending report.

By Tatiana Walk-Morris • Oct. 18, 2024

Discover discloses SEC accounting criticism

The federal agency disagrees with the way the card network is allocating card misclassification charges, Discover said in its third-quarter earnings report.

By Patrick Cooley • Oct. 17, 2024

Walmart pitches Fiserv’s Clover to business clients

The retailer is offering the mega-processor’s Clover equipment and account services to its business clients at a discount through next January.

By Lynne Marek • Oct. 17, 2024

FTC unveils final ‘click-to-cancel’ rule for consumers

The agency rule targeting recurring payments comes amid a broader effort by the Biden administration to reduce consumer “junk” fees.

By Justin Bachman • Oct. 16, 2024

Visa taps AI analytics partner to add merchant services

The card network giant has signed a new multi-year agreement with the marketing research firm Analytic Partners to deliver advertising insights to merchant clients.

By Lynne Marek • Oct. 16, 2024

Payments players tap M&A to build tech stacks

The Fed’s recent interest rate cut could spur even more deal-making in the remaining months of the year and into 2025. Mastercard, Global Payments and Payoneer are among the companies that have bought businesses this year.

By Shefali Kapadia • Oct. 16, 2024

Barclays replaces Goldman Sachs as GM card issuer

The London-based consumer bank will issue two GM credit cards in the U.S., beginning next summer.

By Patrick Cooley • Oct. 14, 2024