Law and Regulation

Merchant organizations contend an expected settlement offer in their ongoing, two-decades-old lawsuit against Visa Inc. and Mastercard Inc. over card-acceptance fees does not address the underlying problem that leads to high card-acceptance costs in the first place. Merchant opposition surfaced over the weekend after a story in The Wall Street …

The financial-services industry faces a threat even more sophisticated and convincing than traditional cybercrime: AI-powered deepfake voice scams. Unlike conventional account-takeover attempts that rely on stolen credentials and digital channels, these attacks use artificial intelligence to replicate customers’ voices with startling accuracy. They are able to bypass traditional authentication methods …

Early Warning Services LLC announced early Friday its Zelle payments network will expand internationally by using stablecoins for cross-border transactions.  Many details of the new initiative, such as expected volumes and fees, were not immediately available, but the move is aimed at offering faster international payments capability “to Zelle customers …

Attorneys for plaintiffs and defendants in the lawsuit challenging the Illinois Interchange Fee Prohibition Act presented oral arguments Wednesday on plaintiff’s motion for Summary Judgment in the case. Attorneys for the plaintiffs argued that the preliminary injunction against the IFPA be broadened so that all financial institutions are exempt from …

Flexa Network Inc., a payments provider based on digital currencies, has agreed to support in-store cryptocurrency acceptance at Bealls Inc., operator of more than 660 stores in 22 states under Bealls and other brand names. The move, announced Monday afternoon, represents one of the largest planned deployments of in-store crypto …

Nacha members have approved five rule changes meant to boost the use and efficiency of international automated clearing house transactions. International ACH transactions totaled $270.96 billion in value in 2024 on 120.99 million payments, Nacha says. Announced Tuesday, the changes address clearing up what is an international automated clearing house …

Identity-verification platform provider Proof.com has launched Certify, a product intended to combat falsification of signatures created through the use of artificial intelligence. With Certify, users can cryptographically authorize a digital signature on any type of content, such as wire instructions, tax returns, and legal agreements, using a verified legal identity.  …

New research from Datos Insights found that credit and debit cardholders globally made 1.1 trillion purchases worth $45.5 trillion in 2024. Buy now, pay later provider Splitit launched its Agentic Commerce Partner Program, an invitation-only effort to bring card-linked installment payments to autonomous shopping agents. Some 86% of restaurant operators are comfortable with the …

Socure, an AI platform for digital identity verification and fraud prevention, announced early Wednesday the launch of Hosted Flows, fraud-detection technology that enables users to build, customize, and deploy branded identity verification and fraud prevention capability without the need for programming code. With Hosted Flows, product, risk, and compliance teams …

The Gift Card Fraud Prevention Alliance is launching a nationwide social-media campaign to combat gift card fraud this holiday shopping season. The campaign, which runs from Oct. 1 through Christmas Day, will deliver daily messages through the LinkedIn and Instagram platforms on the tactics criminals use to perpetrate gift card fraud …