DOJ’s Visa lawsuit could affect Capital One-Discover review

If the Justice Department were to block the Capital One-Discover deal while also going after Visa, “they’d be intellectually inconsistent,” a George Mason University law professor said.

By Caitlin Mullen • Nov. 5, 2024

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.

By Tatiana Walk-Morris • Nov. 4, 2024

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Payments players eye digital B2B opportunity

Companies offering digital payments services envision billions of dollars in U.S. business payments flow ripe for transitioning to the electronic realm.

By Payments Dive staff

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.

By Edward A. Marshall • Nov. 1, 2024

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.

By Tatiana Walk-Morris and Lynne Marek • Nov. 1, 2024

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.

By Caitlin Mullen • Oct. 30, 2024

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.

By Lynne Marek • Oct. 30, 2024

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.

By Lynne Marek and Patrick Cooley • Oct. 30, 2024

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.

By Patrick Cooley • Oct. 30, 2024

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

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