Retail

  • The exterior of the Consumer Financial Protection Bureau building
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    The image by Ted Eytan is licensed under CC BY-SA 2.0
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    Opinion

    CFPB should reconsider prepaid rule

    The Consumer Financial Protection Bureau should revisit its rule affecting digital wallets, peer-to-peer payments and prepaid cards, writes one fintech group leader.

    By Brian Tate • May 17, 2024
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    Kevin Dietsch via Getty Images
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    Supreme Court upholds CFPB’s funding structure

    The 7-2 ruling puts an end to a case that threatened the bureau's existence and pushed at least two federal judges to pause CFPB rules, pending the high court's opinion.

    By Dan Ennis • May 16, 2024
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    busracavus via Getty Images
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    Trendline

    Real-time payments are on the rise

    As the U.S. makes a move to encourage use of real-time payments, it’s following other nations in adopting the real-time advance.

    By Payments Dive staff
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    Permission granted by Square
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    Payments firms seek candidates for product, partner roles

    Industry players are increasingly eager to hire executives for product development and partnership-oriented jobs, according to a report from recruiting firm SpencerStuart.

    By • May 16, 2024
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    Courtesy of Shift4
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    Shift4 to buy rival POS firm Revel for $250M

    The payments processing company plans to incorporate Revel’s point-of-sale capabilities into its SkyTab POS system, Shift4 CEO Jared Isaacson said.

    By , • May 15, 2024
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    uschools via Getty Images
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    Fed bombarded by debit card fee commentary

    The Federal Reserve Board said it has received some 2,500 comment letters regarding its Regulation II proposal to cut the fees that merchants are charged when they accept debit cards.

    By • May 14, 2024
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    Courtesy of 7-Eleven
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    7-Eleven testing financial services in stores

    The retailer will add terminals to 3,000 of its Speedway locations and test services like cryptocurrency purchases with ATM solution provider FCTI.

    By Jessica Loder • May 14, 2024
  • Toast Inc. point of sale device
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    Courtesy of Toast Inc.
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    Toast CFO weighs in on Visa-Mastercard settlement

    The restaurant-focused payments company expects to see an impact from lowered interchange fees by the second half of 2025.

    By • May 13, 2024
  • CFPB Director Rohit Chopra sitting on a panel next to Secretary of Transportation Pete Buttigieg.
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    CFPB, DOT take aim at airline rewards

    The two agencies raised concerns that airlines and card companies could arbitrarily devalue points accrued in their joint rewards programs, amounting to a bait-and-switch for customers.

    By • May 10, 2024
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    Kevin Frayer via Getty Images
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    Mastercard joint venture starts operations in China

    The collaboration with a Chinese entity began Wednesday, with processing of cards issued by banks in the country following years of preparations.

    By • May 10, 2024
  • Booth and sign for Federal Reserve payments services at Nacha conference in May 2024.
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    Lynne Marek/Payments Dive
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    Jack Henry, Visa see escalating FedNow volume

    While the Federal Reserve won’t specify payments volume on the new instant system, executives from certified service providers Visa and Jack Henry said they’re seeing an increase.

    By • May 9, 2024
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    BNPL users tend to have lower incomes: Bank of America

    The bank analyzed its BNPL user data and discovered low-income consumers are more likely to use installment payment services. It’s also popular among millennial and Gen X consumers.

    By • May 6, 2024
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    bymuratdeniz via Getty Images
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    Merchants urged to file claims for $5.5B payment card settlement

    Requests for a slice of the Visa-Mastercard settlement are due by a May 31 deadline. Lawyers are racing to alert eligible businesses.

    By Lyle Moran • May 6, 2024
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    Photographer unknown via Getty Images
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    Opinion

    Pay-by-bank holds promise

    “The value proposition of pay-by-bank is clear: merchants win from drastically lower payment costs and consumers win from lower prices,” writes one fintech executive.

    By Eric Shoykhet • May 3, 2024
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    Permission granted by Diebold Nixdorf
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    Automatic age verification comes to self-checkout

    Artificial intelligence is speeding up store checkout in a pilot by banking tech company Diebold Nixdorf using tech to verify a customer’s age.

    By Jessica Loder • May 3, 2024
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    Creative via Getty Images
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    Global Payments to wrap review soon

    The payments processor plans to finish an assessment of operations in the next few months, aiming to streamline its business and pare units it can’t scale.

    By • May 2, 2024
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    martin-dm via Getty Images
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    Amazon makes a subscription play

    The giant digital retailer has created a new payment flow connected to groceries.

    By Catherine Douglas Moran • May 1, 2024
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    Justin Sullivan / Staff via Getty Images
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    PayPal, Bread brace for late fee cap

    Payments and credit card companies are scrambling to soften the blow of an impending $8 cap on credit card late fees.

    By • May 1, 2024
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    Stripe unbundles services as industry shifts

    The company’s move to decouple embedded financial services from payment processing means it’s ready to pursue larger customers, analysts said.

    By • May 1, 2024
  • Button on a keyboard that says 'real-time'
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    William_Potter via Getty Images
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    Real-time consumer payments need standards to rise

    To make instant payments a reality for consumers, the payments industry must work together to develop a common framework for the transactions, top industry executives say.

    By • April 30, 2024
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    bernie_photo via Getty Images
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    NRF objects to Visa-Mastercard settlement

    The National Retail Federation lashed out at a landmark Visa-Mastercard legal settlement Friday, calling the pact reached with some merchants last month “meager and temporary” relief.

    By • April 29, 2024
  • A facade of a commercial building, a sign reads, "Love's" and another reads "It's the love that drives us".
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    Jessica Loder/Payments Dive
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    How Love’s is remaking stores and checkout

    The convenience store chain has installed some self-checkout machines to replace employee checkout counters, C-Store Dive said in reporting on the company’s $1 billion renovation program.

    By Jessica Loder • April 29, 2024
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    DKosig via Getty Images
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    Opinion

    Why financial institutions should embrace ISO 20022

    Adopting ISO 20022 payment standards can help U.S. banks and credit unions unlock richer data and stay competitive in the global financial marketplace.

    By Sylvie Boucheron-Saunier • April 26, 2024
  • Self-checkouts at a store.
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    Catherine Douglas Moran/Payments Dive
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    Walmart removes self-checkout from select stores

    The retailer joins Target, Dollar General and other chains in recalibrating a reliance on self-service, and rethinking the whole checkout experience.

    By Kristen Doerer • April 25, 2024
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    Justin Sullivan / Staff via Getty Images
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    Visa debit card volume growth keeps sliding

    The card network behemoth’s latest earnings report showed a contraction in card volume growth during the first three months of the year, and into April.

    By • April 24, 2024
  • A person pushes a cart in front of Walmart
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    Scott Olson via Getty Images
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    Walmart offers a new BNPL option: report

    The fintech One now offers buy now, pay later financing at the store chain, presenting competition for Affirm, which has partnered with the retail giant since 2019.

    By Caitlin Mullen • April 24, 2024