Citi fined $25.9M over alleged discrimination

The bank, between 2015 and 2021, denied certain credit card products to applicants with surnames ending in “ian” and “yan,” suffixes that Citi employees associated with Armenian national origin, the CFPB said.

By Anna Hrushka • Nov. 8, 2023

CFPB proposes new oversight for payment tech firms

Google, Apple and 15 other big non-bank technology companies that provide digital wallets or payments apps would be subject to increased regulation if a new Consumer Financial Protection Bureau rule is approved.

By Lynne Marek , James Pothen • Nov. 7, 2023

Explore the Trendline➔

Cross-border payments targeted for upgrades

When it comes to cross-border payments, businesses, non-profits and governments alike are determined to increase the speed of transactions and cut the cost.

By Payments Dive staff

FIS readies finances for Worldpay separation

Fidelity National Information Services took an accounting hit against its third-quarter results last year as it prepared to cast off its Worldpay unit.

By Lynne Marek • Nov. 7, 2023

Micropayments poised to surge: Forrester

In the U.S., bank-based payments need to gain steam before micropayments can truly take off, but there are increasing signs that’s on track, said Forrester analyst Lily Varón.

By Caitlin Mullen • Nov. 7, 2023

Visa launches cybersecurity training program

The card giant rolled out a cybersecurity apprenticeship program last year amid a talent deficit highlighted by the Biden administration.

By Tatiana Walk-Morris • Nov. 6, 2023

Block to shrink workforce

The company plans to cut about 8% of its workforce over the next year as Jack Dorsey steps up his efforts to improve efficiency and revive profits.

By Caitlin Mullen • Nov. 3, 2023

PayPal discloses SEC, CFPB probes

The digital payments company said it’s cooperating with a Securities and Exchange Commission probe of its stablecoin, and a Consumer Financial Protection Bureau inquiry related to bank transfers.

By Lynne Marek • Nov. 3, 2023

Breaking down buy now, pay later

After its pandemic-era growth spurt, buy now, pay later has gone mainstream in consumer payments. But changing economic conditions are forcing the installment trend to evolve.

By Caitlin Mullen • Nov. 3, 2023

Apple’s payments regulation woes mount

Regulators in the Netherlands, South Korea and Australia have targeted the tech giant’s payments business, and antitrust litigation is brewing in the U.S.

By James Pothen • Nov. 2, 2023

PayPal promotes Archie Deskus to CTO

The move expands the executive's oversight to include platform engineering teams, the company said Thursday.

By Roberto Torres • Nov. 2, 2023

Klarna transfers 500 jobs in cost-cutting move

The buy now, pay later provider is outsourcing about 500 positions in 10 markets to two partners, a company spokesperson said.

By Caitlin Mullen • Nov. 2, 2023

PayPal’s new CEO promises improvements

Alex Chriss, who took the top post in September, tapped a new chief financial officer this week and pledged to refocus the payment company's strategy.

By Lynne Marek • Nov. 2, 2023

Global Payments delays new POS launch

The payments processor’s new point-of-sale software for retail and restaurant customers will launch in early 2024, not this year.

By Caitlin Mullen • Nov. 1, 2023

Payments players react to debit cap cut

The CEOs of Mastercard and Global Payments chimed in with opposing views of the Federal Reserve Board’s proposal to lower the cap on debit interchange.

By Caitlin Mullen • Oct. 31, 2023

Affirm sees CFPB supervision on the horizon

The buy now, pay later company expects to begin being supervised by the federal watchdog in the “immediate future.”

By Caitlin Mullen • Oct. 30, 2023

Consumers expect to use fewer digital wallets: report

As more merchants accept digital payments for in-store purchases, consumers are moving away from using multiple, single-use payment apps, McKinsey Senior Partner Marie-Claude Nadeau said.

By James Pothen • Oct. 30, 2023

Discover discloses SEC probe

A pricing error by the card company that affected merchants and merchant acquirers triggered the investigation.

By Caitlin Mullen • Oct. 27, 2023

PayPal to sell Happy Returns to UPS

The digital payments pioneer is shedding the returns software business under a new CEO just two years after acquiring it.

By Alejandra Carranza • Oct. 27, 2023

Ingenico, Jifiti partner to offer payment options

The payments acceptance company is racking up partnerships to expand services under Apollo Funds ownership.

By Tatiana Walk-Morris • Oct. 27, 2023

CFPB: Consumers paid record credit card fees in 2022

"With credit card debt crossing the trillion dollar mark, we will be working to prevent bait-and-switch tactics when it comes to rewards,” CFPB Director Rohit Chopra said in a Wednesday press release.

By James Pothen • Oct. 26, 2023

BNPL, EWA bills surface at House hearing

The legislative proposals emerged at a Wednesday hearing during which lawmakers queried witnesses on payments and fintech issues.

By Caitlin Mullen • Oct. 26, 2023

U.S. Bank jumps into BNPL

The launch of the point-of-sale option Avvance comes as nearly one in five consumers surveyed by the New York Fed say they've used buy now, pay later loans within the past year.

By Gabrielle Saulsbery • Oct. 26, 2023

Fed proposes reduction in debit fee cap

The Federal Reserve Board proposed a rule change that would slash the amount card issuers can charge merchants for processing a debit transaction. The proposal also calls for periodic updates to the fee cap in the future.

By Lynne Marek • Oct. 25, 2023

PayPal taps Fiserv as ‘core’ payments partner

Fiserv CEO Frank Bisignano said Tuesday that his company is now PayPal’s “core U.S. partner for payment services.”

By Caitlin Mullen • Oct. 25, 2023

Visa leans into CFPB proposal

The card network’s CEO on Tuesday backed a recent Consumer Financial Protection Bureau proposal on open banking, but was more circumspect about Fed moves on debit rules.

By Lynne Marek • Oct. 25, 2023