Upcoming ISO 20022 transition leaves some finance players scrambling

The move to ISO 20022 is coming late next year and many financial institutions remain unprepared for the switch.

By Patrick Cooley • June 11, 2024

Rivals Adyen, Stripe partner with Capital One to combat fraud

The three companies announced last Wednesday that they are teaming up to launch a free service intended to combat fraud and reduce the amount of transactions that are improperly declined.

By Patrick Cooley • June 10, 2024

How machine learning protects merchants from digital payment fraud

Fraud is always a problem companies want to tackle. But in the current business environment, it has become an even greater priority.

June 10, 2024

Amex dismisses impact of eBay’s rejection

EBay will no longer accept American Express, but the credit card company said in a statement that the online auctioneer accounts for a minuscule portion of its total business.

By Patrick Cooley • June 6, 2024

Pot payments players crave federal reforms

The Safer Banking Act and federal rescheduling of marijuana could simplify transactions for payments companies doing business in the arena.

By Patrick Cooley • June 5, 2024

Early Warning launches campaign to warn seniors

The parent to payments service Zelle aims to inform seniors about scams as it faces congressional scrutiny over its fraud reimbursement practices.

By Tatiana Walk-Morris • June 5, 2024

Are digital wallets safer than debit cards?

Research shows young people see digital wallets as a more secure option than debit and credit cards. Cybersecurity professionals mostly agree, despite caveats.

By Patrick Cooley • May 31, 2024

Investments for payments startups trickle in

Venture capital flowing to startups in the payments sphere remains reduced this year, extending a rut from last year.

By Lynne Marek • May 30, 2024

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 Lynne Marek • May 9, 2024

How to reduce risk and save cash with Pull-ACH

Finance leaders are in a unique position to reduce costs and increase revenue by evolving payment processes.

By Siamac Rezaiezadeh, VP of Product Marketing & Insights, GoCardless • May 6, 2024

Fed keeps up CBDC research

Despite political opposition to a potential U.S. central bank digital currency, research staff at the central bank continue to study the possibility.

By Lynne Marek • April 17, 2024

CFPB $8 late fee cap edges toward reality

Despite an industry-backed lawsuit seeking to stop the Consumer Financial Protection Bureau’s new $8 late fee rule, bank card issuers are bracing for potential implementation.

By Lynne Marek • April 17, 2024

US, Europe lock arms on payments regulation

U.S. and European regulators have joined forces to monitor digital payment concerns, including those related to buy now, pay later financing and big tech market participation.

By Lynne Marek • April 15, 2024

Warren reiterates call for gun MCC guidance

The Massachusetts senator and 32 other Democrats stressed the need for federal guidance on the gun merchant category code as states diverge.

By Caitlin Mullen • March 29, 2024

How Visa handled ‘BidenCash’ card fraud incident

The card network giant identified 556,000 card accounts that were put at risk as a result of the cybercrime ring BidenCash’s release of data online in December.

By Tatiana Walk-Morris and Lynne Marek • March 25, 2024

CFPB warns of ‘dangers’ on standards for open banking

“We know dangers exist when more powerful players weaponize industry standards,” Consumer Financial Protection Bureau Director Rohit Chopra said in advance of finalizing an open banking rule later this year.

By Lynne Marek • March 15, 2024

Banking apps fall short on fraud protections: report

Consumer Reports Senior Director Delicia Hand said preventing fraud and scams is "crucial" for traditional and digital banks alike, as more of their customers use their mobile apps.

By James Pothen • March 14, 2024

Visa spends ‘billions’ battling cybersecurity threats

“We are all in an arms race to protect this ecosystem, to protect the network,” Visa CEO Ryan McInerney said at an investor conference last week.

By Lynne Marek • March 11, 2024

Capital One angles to push Discover upmarket

With its acquisition of the card network, Capital One seeks to elevate Discover’s brand while also working to expand its acceptance abroad.

By Caitlin Mullen • March 7, 2024

US Health Dept. offers assistance in wake of Change cyberattack

Healthcare providers have reported significant challenges to their day-to-day operations, including problems receiving payment from patients and insurers.

By Emily Olsen • March 6, 2024

Amex cardholder data exposed in merchant processor hack

The point-of-sale attack on a merchant processor may have compromised card numbers, expiration dates and cardholder names, Amex said in a state regulatory filing.

By Caitlin Mullen • March 5, 2024

Cash App enforcement action expected this year

Federal regulators reviewing whistleblower allegations related to Block’s Cash App may act on the complaints this year, predicted an attorney for the complainants.

By Lynne Marek • March 4, 2024

Green Dot faces Fed’s proposed consent order

The digital bank set aside $20 million to cover a potential penalty stemming from compliance risk management issues predating the company’s current management.

By Gabrielle Saulsbery • Feb. 29, 2024

Apple begins sharing BNPL data with Experian

The development may spur rival BNPL providers to follow suit, according to Ed deHaan, a professor at the Stanford Graduate School of Business. 

By James Pothen • Feb. 29, 2024

Capital One tackles Discover compliance issues

Capital One is betting the resolution of Discover’s compliance issues will take longer and cost more than expected, Capital One CEO Richard Fairbank said.

By Caitlin Mullen • Feb. 28, 2024