Law and Regulation

The Federal Reserve issued a set of market practices, or a kind of blueprint, as part of an effort to introduce standards for a request for payment function for bill pay on the regulator’s FedNow real-time payments service, which launched nationwide in July. Block Inc.’s Square point-of-sale unit launched Tap to Pay on Android …

FlexPoint announced its launch as a payments platform for so-called managed-service providers, or organizations that provide information-technology services to companies. Flexpoint also announced a long-term financing program for clients through GreatAmerica Financial Services. Automaker Mitsubishi Electric said it has enlisted BlackBerry Ltd. to supply in-vehicle data services, including digital payments. Commerce-technology provider Treez launched new payments …

Innovative Payment Solutions Inc. announced it has completed the second of three $500,000 capital contributions to IPSIPay Express LLC, a joint venture aimed at processing digital payments in the sports-betting and online-gaming markets. Partnering with IPSI in the venture are OpenPath and eFinityPay. Reports indicate a security breach at T-Mobile exposed sensitive data, …

Square, Block Inc.’s merchant-processing unit, announced Wednesday it has partnered with e-commerce technology provider Jane Technologies Inc. to process online payments for cannabis dispensaries in Canada serviced by Jane. Square will initially begin processing for dispensaries in Ontario, Canada, through its Early Access Program. That will allow dispensaries in the …

Fresher data flowing directly from payments platforms could mean more effective remedies against chargebacks, some observers say. On Tuesday a major risk-management firm acted on that theory with a service that allows sellers to factor in information regarding chargebacks and disputes that flow through integrations with PayPal Holdings Inc. and …

Wise Transfer Ltd., a developer of software for cross-border transfers, announced its Wise Platform will complete transactions initiated through the Swift international payments platform at the option of financial institutions. In related news, IBM Corp. announced its IBM Payments Center, a software-development unit, has joined the Swift Partner Program, gaining access to …

The federal court overseeing a $5.54-billion settlement between millions of card-accepting merchants, on one hand, and Visa Inc. and Mastercard Inc., on the other, over interchange costs recently took several steps that ultimately could get payments out to merchants. But checks still won’t be in the mail for some time. …

The Federal Reserve seeks to work closely with private-sector instant-payment services and plans to carve out a regulatory role to govern developments in stablecoins, a top official at the Fed said Friday. The remarks come in the wake of the Fed’s launch in July of its FedNow real-time payments network. …

The Consumer Financial Protection Bureau late Thursday released a report raising questions about the part restrictions imposed by big technology firms like Apple Inc. and Alphabet Inc’s Google subsidiary may play in hampering innovation, consumer choice, and the growth of open and decentralized banking and payments in the U.S. The …

According to Juniper Research, 360 million people worldwide used Buy Now, Pay Later (BNPL) in 2022. With such an expansive consumer base, BNPL has also become an effective tool for merchants to attract new customers and increase conversion rates. However, the widespread use of BNPL has raised concerns regarding transparency …