Will payments M&A pick up after slow start?

Despite a flurry of payments acquisitions recently, deal activity was slow in the first half of the year and some factors are still suppressing M&A.

By Caitlin Mullen • July 24, 2023

Amex corporate client growth ebbs

U.S. commercial card services volume grew 2% in the second quarter, relative to the year-ago period, American Express said in a Friday earnings report.

By Caitlin Mullen • July 21, 2023

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Payments industry seeks to keep pace with fraudsters

As losses from fraud in payments have climbed, companies are seeking new tools to combat illicit schemes.

By Payments Dive staff

Whole Foods to deploy Amazon One chainwide

The chain plans to offer the palm recognition and payment system at all of its more than 500 stores by the end of 2023, Amazon announced Thursday.

By Sam Silverstein • July 20, 2023

Discover facing FDIC probe

The company also disclosed during its 2Q earnings report that a pricing issue affected merchants and merchant acquirers, some of whom will get refunds.

By Caitlin Mullen • July 20, 2023

CCCA opponents brace for defense bill move

Opponents of the Credit Card Competition Act proposal are gearing up to fight the bill as an attachment to the National Defense Authorization Act.

By Lynne Marek • July 19, 2023

CFPB, European regulator open a dialogue on digital rules

Buy now, pay later platforms, artificial intelligence and other developments “if left unchecked, could increase consumers’ exposure to fraud and manipulation,” the regulators said Monday.

By Rajashree Chakravarty • July 18, 2023

Mastercard hires new chief legal officer

Rob Beard, who will also serve as head of global policy, brings M&A and capital markets experience to his new role at the card network company.

By Lyle Moran • July 18, 2023

Synchrony braces for late fee rule

The CEO of the private label card issuer expects a final rule on the CFPB’s proposed credit card late fee cap later this year, and litigation could follow, he said.

By Caitlin Mullen • July 18, 2023

Frictionless checkout becomes increasingly popular at stadiums

Allegiant Stadium in Las Vegas just added its 10th frictionless store as the trend at sporting ventures expands.

By Jessica Loder • July 18, 2023

Fintech funding drops in 2Q

While there was a drought of venture capital for payments startups and other fintechs in the first half of the year, industry reports spot potential for new flows in the second half.

By Lynne Marek • July 18, 2023

BNPL app downloads decline

In the U.S., total BNPL app downloads for the second quarter fell 19% compared to the year-ago period, Bank of America Securities analysts said.

By Caitlin Mullen • July 17, 2023

Will other states mimic New Jersey’s credit card surcharge?

The state’s legislature passed a bill recently to cap credit card surcharges. One experienced payments executive believes that’s the wave of the future.

By Lynne Marek • July 17, 2023

Consumers, SMBs prize security in cross-border payments: survey

Trust and transparency of fees were other key factors for consumers and businesses choosing a cross-border payment provider, a Swift survey revealed.

By Caitlin Mullen • July 14, 2023

FIS, GTCR craft Worldpay escape hatch

In its recent sale of an ownership stake in Worldpay, FIS agreed that the new joint venture with GTCR could be put up for sale a handful of years after they close the deal.

By Lynne Marek • July 13, 2023

Bank of America fined $250M over fake accounts, junk fees

Regulators say Bank of America opened credit card accounts without customers’ consent and misled consumers about rewards for card applications.

By Anna Hrushka • July 11, 2023

New Jersey legislature passes credit card surcharge bill

Lawmakers passed a bill that limits the surcharge a merchant can impose on consumers to the cost of processing a credit card transaction.

By Lynne Marek • July 11, 2023

Merchant Lynx Services acquires National Credit Card Processing Group

The purchase gives Merchant Lynx Services a payment acceptance presence in the highway construction and large equipment sector, a Merchant Lynx executive said.   

By Caitlin Mullen • July 10, 2023

Affirm to shutter Returnly

Two years after purchasing Returnly for $300 million, Affirm said it’s divesting the returns management platform business.

By Caitlin Mullen • July 7, 2023

As biometrics use advances, so must hacker defenses

“Hackers are using all sorts of sophisticated methods to trick and bypass biometric technology – like capturing audio clips of individuals’ voices, making fake fingerprints using putty and gelatin, and downloading photos and videos,” an executive writes.

By Alessandro Chiarini • July 7, 2023

FTC revs up money transfer case against Walmart

The Federal Trade Commission revved up its case against Walmart last week, alleging the retailer facilitated fraudulent transactions, despite a court ruling setback in March.

By Lynne Marek • July 6, 2023

Card issuers defend late fees

In responses to a group of U.S. senators, the top 10 credit card issuers outlined their late fee practices and warned of potential consequences if fees are capped as the CFPB has proposed.

By Caitlin Mullen • July 6, 2023

FIS to sell Worldpay stake to GTCR

Fidelity National Information Services will sell a 55% stake in Worldpay to the private equity firm GTCR for $11.7 billion, valuing the company at $17.5 billion. 

By Lynne Marek • July 6, 2023

Debit plagued by security concerns: survey

Just 40% of consumers feel confident in the security and safety of their debit cards, J.D. Power said.

By Caitlin Mullen • July 5, 2023

Goldman in talks to transfer Apple card deal to Amex: reports

The move, if true, would mark a 180-degree turn after Goldman and the tech giant extended their partnership until 2029 in October.

By Gabrielle Saulsbery • July 5, 2023

NCR outlines ATM spin-off strategy

The separation of NCR’s ATM business and its digital commerce operations occurred in the fourth quarter of last year.

By Caitlin Mullen • June 30, 2023