How Visa stymied big tech rivals

The U.S. lawsuit paints a picture of the dominant card network using lures and threats to stifle competition from competitors Apple, PayPal and others.

By Lynne Marek • Sept. 25, 2024

DOJ suit accuses Visa of illegal debit payment monopoly

The company threatens merchants with high fees, and "makes its potential rivals business partners to thwart competition in debit card processing," the DOJ says.

By Justin Bachman • Sept. 24, 2024

Explore the Trendline➔

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

Visa faces possible DOJ lawsuit, news reports say

The card network may soon be sued by the Department of Justice over its debit card practices, according to multiple news reports citing anonymous sources.

By Lynne Marek • Sept. 24, 2024

DailyPay to offer service outside US

Earned wage access provider DailyPay plans to begin offering its services outside the U.S. for the first time later this year.

By Lynne Marek • Sept. 23, 2024

Walmart, Fiserv team to offer real-time payments

The retail giant and payments processor are targeting next year for offering consumers a real-time payment option online.

By Lynne Marek • Sept. 20, 2024

Amazon adds PayPal option to Buy with Prime

The e-commerce platform will also let consumers connect their PayPal and Prime accounts next year, and access free shipping via Buy with Prime on some merchants’ sites.

By Tatiana Walk-Morris • Sept. 20, 2024

Reliant pushes back against CFPB lawsuit

The card services company argued Wednesday that it has always been upfront with customers about fees, and was blindsided by the CFPB's legal action.

By Patrick Cooley • Sept. 19, 2024

Who really pays for your credit card reward points?

"While rewards may feel like a bonus for those who use credit cards regularly, they ultimately come at a cost," writes one payments executive.

By Parth Vatsal • Sept. 19, 2024

Brex rolls out embedded payments tool

The fintech aims to capture a larger share of the B2B payments market, working with partners in addition to selling directly, Brex's president said.

By Rajashree Chakravarty • Sept. 19, 2024

Credit Card Competition bill backers keep pressure on

Republican Sen. Roger Marshall has a new ad pitching the Credit Card Competition Act proposal aimed at dislodging Visa and Mastercard’s dominance.

By Lynne Marek • Sept. 19, 2024

Fed payments proposal pits big banks against small rivals

The Federal Reserve’s proposal to extend the operating hours of two interbank payments systems has been welcomed by large banks, but panned by many small financial institutions.

By Lynne Marek • Sept. 18, 2024

Rain to offer EWA services via Workday

The earned wage access provider will now be able to offer its services to more employers through the human resources software firm’s systems.

By Tatiana Walk-Morris • Sept. 18, 2024

CFPB takes aim at ATM, debit card fees

Regulators should assume, as a default, that customers have not agreed to coverage and fees unless banks can provide signed agreements or recorded conversations, the agency said in a policy reminder.

By Dan Ennis • Sept. 18, 2024

Mastercard CFO to continue working after cancer diagnosis

Decisions on medical disclosures can be challenging for companies. Mastercard’s approach drew high marks from some corporate governance experts.

By Maura Webber Sadovi • Sept. 18, 2024

Apple launches Affirm BNPL option

Apple Pay customers can now use their iOS 18 phone or iPadOS 18 to access Affirm buy now, pay later options, including some that don’t charge interest.

By Lynne Marek • Sept. 17, 2024

Lawmakers push for crackdown on fintechs

Two U.S. senators demanded tighter regulations on BaaS and fintech partnerships, saying they pose “a broader threat to the stability of our banking system and the economy.”

By Rajashree Chakravarty • Sept. 17, 2024

Visa, Mastercard enable rail transit payment in Beijing

The major card networks enabled systems that allow international travelers in China to use their cards to pay for Beijing rail transit as of last week.

By Lynne Marek • Sept. 16, 2024

U.S. Bank rolls out access to Paze digital wallet

The bank began offering the payments option from Early Warning Services to its credit and debit cards customers this week.

By Patrick Cooley • Sept. 13, 2024

Mastercard acquires cybersecurity firm for $2.65B

The acquisition is the latest in a series of cybersecurity firm purchases by the card network over the years.

By Lynne Marek • Sept. 12, 2024

North American cashless payments to climb 7% by 2028: report

Real-time payments and open banking will drive the increase, forcing the shift even faster globally, a Capgemini report released this week said.

By Tatiana Walk-Morris • Sept. 12, 2024

Airwallex eyes embedded payments in global push

The payments software provider is making “immediate bets” on the Brazil and Mexico markets, a company executive said.

By Grace Noto • Sept. 12, 2024

Global Payments CEO reshapes the business

The payments technology company is getting a remake with job cuts, an acquisition and potential divestitures a year after Cameron Bready ascended to the CEO post.

By Lynne Marek • Sept. 11, 2024

PayPal seeks to attract users offline

The digital payments pioneer is leaning on cashback rewards to attract more consumer use in stores, and will also tap near-field technology to expand.

By Lynne Marek • Sept. 10, 2024

Amex taps troves of customer data

American Express eschews preset spending limits and instead relies on credit scores and spending history to manage risk, a company executive explained at a conference last week.

By Patrick Cooley • Sept. 10, 2024

Discover’s top lawyer leaves for Ally

Hope Mehlman is expected to take her new Ally role on Dec. 2, even as Discover faces high legal hurdles in completing an acquisition of its business by Capital One.

By Patrick Cooley • Sept. 9, 2024