Credit Cards

Prizeout, a fintech specializing in digital gift card payouts and cashback rewards, announced CashBack + Pay late Tuesday, a cashback program for debit card holders whose cards have been issued by credit unions. CashBack+ Pay gives credit union debit card holdings instant rewards averaging 6.8% of the transaction amount, the …

Mastercard Inc. and PayPal Holdings Inc. said they will work together to develop new features to the recently introduced Mastercard One Credential, a digital payment service that supports multiple payment methods that launched in February. In related news, PayPal said it is adding new capabilities to its Venmo social payments platform, including limited time …

Consumers with PayPal Credit accounts soon will be eligible for a new Mastercard Inc. branded card to use in store with their accounts. Announced Tuesday, the new card taps consumer credit lines in their PayPal Credit accounts, which are issued by Synchrony Financial. PayPal Credit accounts have been most associated …

Airlines, airline unions, and commercial aircraft manufacturers sent a letter to Congress late Monday voicing their opposition to attaching the Durbin Marhsall credit card amendment to the GENIUS Act, a bill to regulate stablecoins. The letter states that attaching the Durbin Marshall amendment to the GENIUS Act would impose “onerous, …

Klarna AB has unveiled Klarna Card, a debit card offering the choice to pay immediately or later. The product incorporates the Visa Flexible Credential technology from Visa Inc. In other Visa news, the card network appointed Andrew Torre president of value-added services, replacing Antony Cahill, who has been appointed regional president and …

Illinois lawmakers extended the implementation date for the Interchange Fee Prohibition Act by 12 months early Sunday to July 1, 2026. Groups opposing the IFPA, the first law of its kind passed by any state, argued the law would cause “widespread economic disruption” and that it would place an undue …

Global Payments Inc. has agreed to sell its payroll unit, Heartland Payroll Solutions, to insurance fintech Acrisure LLC for $1.1 billion. The business serves more than 50,000 clients. Castles Technology said it is working with PXP, a payments platform, to offer Android point-of-sale devices to merchants regardless of size. Some 73% of …

More states are introducing legislation exempting merchants from paying interchange on sales tax and tips. Bills are currently pending in Alaska, Massachusetts, and New York. In Alaska, the proposed bill, which was attached at the 11th hour to a bill authorizing businesses to pay employees using reloadable cards, has been …

Visa Inc. is heralding a number of advances in payments technologies, among them the growth of digital-identity services related to payments, continued contactless-payments penetration, and progress with its Flex Credential. Visa said its efforts to create secure digital-identity technology, aimed at making the checkout more secure, is advancing. Central to …

Sponsors of the Credit Card Competition Act saw the passage of the GENIUS Act on a preliminary vote as an opportunity to give the CCCA new life in advance of plans to reintroduce the legislation in the current Congress. Attaching the bill to the GENIUS Act, which would regulate stablecoins, …