Issuing/Originating

The U.S. Senate on Wednesday voted 51-47 to scrub a regulation issued in November by the Consumer Financial Protection Bureau and aimed at mobile wallets and digital money transfers. The repeal legislation, which now moves to the House of Representatives, comes as major payment-app developers like Apple Inc., Block Inc., …

The Federal Reserve announced its FedNow real-time payments network this summer will raise its transaction limit to $1 million from $500,000. FedNow was launched in 2023. Kasheesh Inc. launched a loyalty program called Kasheesh Rewards, aimed at letting users earn rewards based on spending. Kasheesh’s platform allows users to split transactions across credit, debit, and …

Compliance services provider LegitScript released a suite of services to help with merchant risk management. Among them is its Xray AI Risk Intelligence platform that can help with scanning merchant Web sites for card network violations, automatically detecting merchant category codes, and matching merchants against LegitScript’s risk intelligence database. Visa Inc. is working …

Flexa Inc., a digital-payments provider, has introduced tap-to-pay for cryptocurrency transactions. The contactless-payment method enhances digital-asset usability by enabling blockchain payments via NFC-enabled hardware wallets without a mobile phone or internet connection, the company says. Hardware wallets, known also as burner wallets, are physical devices that store private keys for …

Generation Y and Generation Z are the biggest users of buy now, pay later, according to J.D. Power’s annual BNPL satisfaction study. Some 42% of both generations use BNPL products, compared to 21% of consumers from other generations, the study says. Both generations tend to favor BNPL over credit cards …

With expectations growing that the Credit Card Competition Act will soon be reintroduced in Congress, proponents of the bill feel its prospects for passage are better than ever. Helping fuel this optimism is growing bipartisan support for the bill, proponents say. “The Senate Judiciary Committee [hearing in November] showed there …

Mastercard Inc.’s One Credential, just announced last week, already is seeing some recruiting success with payments-technology provider i2c Inc. enrolling as one of the first issuing-processing partners. The Mastercard One Credential is a digital-payment service that supports multiple payment methods, such as credit, debit, and prepaid, as well as installment loans, …

Bank of America Corp. customers using Zelle initiated a record 1.6 billion transactions totaling $470 billion in 2024. Transaction volume increased 25%, and dollar volume 26%, last year compared to 2023. Zelle has become more popular than checks as a payment method, with Zelle transactions nearly triple the number of …

A top executive at Coinbase Global Inc. said Friday the Securities and Exchange Commission has withdrawn an enforcement action against the cryptocurrency platform, a move the executive lauded as a “victory not just for Coinbase, but for our customers, the United States, and individual freedom.” “We’ve always maintained that we …

Thesis, a venture-financing platform, said its client Fold Holdings Inc. has become the first Bitcoin-related company to go public on the Nasdaq. Fold, trading under the symbol FLD, enables users to earn Bitcoin as rewards on ordinary purchases. Payments processor RevitPay appointed Jack Berry chief revenue officer. Berry formerly was an executive with PaymentCloud. …