Having taken aim at credit card late fees and interest rates, and having targeted non-bank digital wallet providers, Consumer Financial Protection Bureau Director Rohit Chopra has now indicated his regulatory agency is turning its attention to credit card acceptance costs. Chopra’s comments Thursday came as the Credit Card Competition Act, …
Read More »Overfuel Adds Credit Reporting Tool And Other Digital Transactions News briefs from 12/22/23
Overfuel, a provider of online payments for automobile dealerships, has integrated credit reporting from 700Credit LLC to allow users to prequalify for credit on a dealer’s Web site or on a mobile phone. Accounting platform Data Plus is teaming with Edenred Pay, a back-end payments provider for the hospitality industry, to launch …
Read More »LawFi Lines up $1.5 Million And Other Digital Transactions News briefs from 12/21/23
LawFi, a payments platform for law firms, announced a $1.5-million pre-seed funding round from Capital Q Ventures. Digital-banking provider Ibanera announced Portl, a set of blockchain-based payments technologies for online gaming. NordVPN, a vendor of cybersecurity technology, launched an insurance program offering victims of identity theft reimbursement up to $1 million for …
Read More »FIS’s Worldpay Strikes Deals to Support Payments for the HMV Chain And Crypto Platform Alchemy Pay
The big payments processor Worldpay early Wednesday and late Tuesday announced two major deals, one of which will see it supporting multichannel payments for HMV, a London-based seller of DVDs, audio cassettes, CDs, and other entertainment products through a chain of more than 100 stores. The other development, announced late …
Read More »A Home for Unused Gift Cards And Other Digital Transactions News briefs from 12/20/23
The payouts platform Onbe said it will enable instant payment on virtual Mastercard cards to consumers who want to sell unused gift cards on the CardCash secondary gift card market. Buy now, pay later platform Affirm Inc. said it is expanding to self-checkout kiosks in more than 4,500 U.S. Walmart stores. U.S. households spend …
Read More »Bold Checkout Options Expand And Other Digital Transactions News briefs from 12/19/23
Technology provider Bold Commerce launched a feature for its Bold Checkout platform that aims to make it easier for clients to expand the range of payment options they accept. Eastern Bank PLC, based in Dhaka, Bangladesh, will issue what is said to be the world’s first biometric metal card, with fingerprint-recognition technology from …
Read More »A Fee Arrangement Lies at the Heart of a Lawsuit Against Apple, Mastercard, and Visa
An Illinois merchant has filed suit against Apple Inc., Mastercard Inc., and Visa Inc., alleging their efforts to develop Apple Pay prevented competition. Filed last week by Mirage Wine + Spirits in the U.S. District Court for the Southern District of Illinois, the suit specifically claims the agreements among the …
Read More »COMMENTARY: Payments Fraud Is Unrelenting. So Are the Hidden Battles Against It
The digital revolution in payments, characterized by a surge in online transactions and the emergence of novel payment technologies, has been a double-edged sword. While innovations have streamlined commerce, they have also spawned intricate fraud mechanisms, compelling businesses to recalibrate their strategies for safeguarding their operations, reputation, and financial survival. …
Read More »Visa’s Fast Track Expands And Other Digital Transactions News briefs from 12/18/23
Visa Inc. said it is expanding its Fintech Fast Track program, originally focused on card issuing, to include Visa Direct, the card network’s real-time payments platform. Visa has signed 42 new clients in the past year for Fintech Fast Track, which offers various Visa payment technologies to non-bank payments providers. In …
Read More »With Sale Rumors Swirling, Shift4 May Be Traveling Down An Alternative Path
With the payments industry abuzz since late Thursday with reports that the big processor Shift4 Payments Inc. is in talks to be acquired by Global Payments Inc.—reports Global Payments has denied— questions are emerging as to whether Shift4’s plans to grow through the exploration of strategic initiatives include a sale. …
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