Law and Regulation

Merchants using the CardFlight SwipeSimple app have gained easier access to managing customer data and a way to charge to card-on-file credentials. In related acquiring news, Bill Holdings Inc. launched its 1099 Filing service, which enables small businesses to simplify their 1099 taxes. New York City-based CardFlight says the new …

DataVisor Inc., a fraud- and risk-management solutions provider, early Monday announced the launch of an artificial intelligence-based platform that measures hot spot, distinct count, and high-frequency data in real time. The ability to measure these three data points in real time helps speeds the identification of potential fraud threats, which …

Google Inc. has sued the Consumer Financial Protection Bureau following the CFPB’s action Friday asserting federal supervision of the company’s Google Pay wallet. In the suit, filed in U.S. District Court in Washington, D.C., the same day the CFPB acted, the tech giant argues the case targets a payment service …

Financial firms live and die by their reputation. While we know that, with credit unions, insurance companies, and holding companies, the result of a cyberattack could mean funding challenges, reputational damage, and even insolvency, what many don’t know is that, today, around 70% of business risks enter through an endpoint …

President-elect Donald Trump has nominated Fiserv Inc. chief executive Frank Bisignano to be the next commissioner of the Social Security Administration, headquartered in Woodlawn, Md. The move follows by a day news that Trump has named Jared Isaacman, founder and chief executive of Shift4 Payments Inc., a Fiserv rival, to …

The Real Time Payments network operated by The Clearing House Payments Co. said early Wednesday it will raise its transaction limit to $10 million, a tenfold jump from the current $1-million cap. The new limit will take effect Feb. 9, following a 60-day notice period required by The Federal Reserve. …

If the Illinois Interchange Fee Prohibition Act survives the legal challenges it faces, the law would “create significant market distortions,” says a recent report from the International Center for Law & Economics, a Portland, Ore.-based nonprofit research and policy center. Some of the most significant impacts on the market, according …

With the odds against the Credit Card Competition Act coming to a vote before the current Congress adjourns growing by the day, the bill’s future appears bleak. Prospects that the bill might advance received a major blow last week as Sen. Thom Tillis said during a Senate Judiciary Committee hearing …

Consumers irked by the difficulty of unenrolling from some subscription services will gain relief May 14, when merchants must be compliant with the Federal Trade Commission’s revised Negative Option Role, otherwise known as click to cancel. Merchants, however, have a lot of work between now and then. The rule, which …

Federal regulation is coming to payments apps offered by the country’s biggest tech companies. The Consumer Financial Protection Bureau said early Thursday it has “finalized” a rule that will regulate wallets and digital money transfers offered through payments services such as those of Apple Inc., Block Inc., Google LLC, and …