Democrats bash CapOne-Discover merger proposal

A group of Congress members told federal regulators to consider Capital One’s regulatory infractions in reviewing its proposed acquisition.

By Patrick Cooley • Nov. 26, 2024

Ex-PayPal CEO opines on everything from crypto to Cobol

Bill Harris, who briefly led the payments pioneer, talks about the U.S. lagging in payments innovation, and the potential of stablecoins.

By Lynne Marek • Nov. 26, 2024

Explore the Trendline➔

Top 5 stories from Payments Dive

The digital evolution of payments is roiling the industry, forcing companies to rethink pricing schemes and revamp corporate strategies. Embedded payments, earned wage access, real-time systems and other innovations will transform the business.

By Payments Dive staff

Visa to boost credit card fees next year

The network is expected to increase some fees it charges for credit card payments, according to a notice referenced during a Senate hearing last week.

By Lynne Marek • Nov. 25, 2024

Push payment scam losses to surpass $3B by 2028: report

U.S. fraud losses due to push payment scams are rising, partly because of more real-time payments, according to a report from the payments company ACI Worldwide.

By Tatiana Walk-Morris • Nov. 25, 2024

Richmond Fed seeks more CapOne-Discover input

The regional Fed bank, which has purview for the proposed merger, demanded more information from the bank as it considers whether to approve the deal.

By Lynne Marek • Nov. 22, 2024

CFPB tweaks big tech payments rule

In finalizing the new rule to oversee digital wallet providers Thursday, the Consumer Financial Protection Bureau said it made important changes to its initial proposal.

By Lynne Marek • Nov. 21, 2024

DC attorney general sues EarnIn over ‘deceptive’ marketing

The fintech couches its “cash out” product as earned wage access, but it’s a loan that, at times, carries 300% interest with a poorly disclosed fee for “instant” payouts, the AG said.

By Dan Ennis • Nov. 20, 2024

How passing the CCCA would benefit nonprofits

"Nonprofits and charities need every penny they can get to make effective change in times of crisis, yet big banks and credit card companies continue to take their cut," writes one policy analyst.

By Hassan Tyler • Nov. 20, 2024

Senate grills Visa, Mastercard executives over swipe fees

Executives from the card networks were on the defensive Tuesday when members of the Senate Judiciary Committee berated them over high fees merchants must pay to accept credit card payments.

By Lynne Marek • Nov. 19, 2024

Scams ensnare even sophisticated consumers, Fed says

Criminals leverage advanced technology to make so-called mule accounts that pass as humans and persuade consumers to send money to scammers, a Kansas City Fed paper says.

By Patrick Cooley • Nov. 18, 2024

State interchange fee legislation makes meager progress

As Illinois fights to preserve its landmark law exempting state taxes from the calculation of card interchange fees, other states are making little progress with similar legislative proposals.

By Lynne Marek • Nov. 18, 2024

Payments players should embrace digital currencies

“Emerging currencies, digital assets, and even next-generation fiat options could be integrated thoughtfully, allowing companies to access new markets,” writes one industry chief revenue officer.

By Ryan Miller • Nov. 15, 2024

Durbin gives credit card bill another Senate push

Senate Democrat Dick Durbin is intent on pursuing the Credit Card Competition Act, and perhaps preserving his political future.

By Lynne Marek • Nov. 14, 2024

Shift4 CEO bets on crypto and Trump

The payment processor’s CEO, Jared Isaacman, plans to plunge ahead with a recent crypto initiative, wagering that President-elect Trump will give a boost to the effort.

By Patrick Cooley • Nov. 14, 2024

Private sector merits ‘significant’ payments footprint, Waller says

The Federal Reserve must consider when to make up for private sector shortcomings in payments, while keeping its role limited, board member Christopher Waller said Tuesday.

By Tatiana Walk-Morris • Nov. 13, 2024

Klarna files for IPO

The buy now, pay later company announced Tuesday it had filed confidentially with the Securities and Exchange Commission for an initial public offering.

By Patrick Cooley • Nov. 13, 2024

Open banking to move toward FDX standard

Industry collaboration on open banking is likely to move forward, with or without the CFPB’s recent final 1033 rule, one Jack Henry executive said.

By Lynne Marek • Nov. 11, 2024

How Trump’s administration may rework payments policies

The president-elect and his new administration will have the opportunity to revamp federal government approaches for everything from earned wage access to digital currencies to open banking.

By Lynne Marek and Patrick Cooley • Nov. 7, 2024

FTC sues fintech Dave over marketing, fees

The Federal Trade Commission filed a complaint Tuesday alleging the fintech rarely disbursed the advertised loan amount and charged consumers a “tip” without giving them the ability to opt out of it.

By Rajashree Chakravarty • Nov. 7, 2024

Cross River drops lawsuit against Fiserv unit

The Fort Lee, New Jersey-based lender dismissed a lawsuit that it had filed against First Data Merchant Services last year. 

By Rajashree Chakravarty • Nov. 7, 2024

DOJ’s Visa suit is unfounded

The government acknowledges payment volumes are rising, in part because of fintech growth. This competition wouldn’t be happening if a single entity, like Visa, controlled the ecosystem.

By Aurelien Portuese • Nov. 5, 2024

Fed aims to make instant payments the norm

“It's going to be up to us to move instant payments from being novel to being normal,” Federal Reserve Financial Services’ chief payments executive told attendees at a major industry conference last week.

By Lynne Marek and Patrick Cooley • Nov. 5, 2024

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

Stablecoins face obstacles to widespread adoption

The digital currencies could simplify cross-border payments, but consumers are wary of using them, payments and fintech executives say.

By Patrick Cooley • Nov. 4, 2024

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