Law and Regulation

Data compromises in the U.S. market for the first three quarters of 2023 totaled 2,116, a record high for the first nine months of a calendar year, according to the Identity Theft Resource Center. The previous high was set in 2021, when 1,862 compromises were recorded over the first nine …

The Credit Card Competition Act (CCCA) looks to be headed for a vote before the end of the year, spurred in part by Sen. Dick Durbin’s recent urging that it be brought to the Senate floor. While the Illinois Senator is of the mind it will help increase industrywide competition …

PayNearMe Inc. is beefing up the fraud-fighting capabilities of its MoneyLine iGaming and sports-betting platform via an integration with Accertify Inc., a subsidiary of American Express Co. The integration will enable iGaming and sports-betting operators to reduce fraudulent withdrawals from iGaming accounts by confirming an accountholder’s identity prior to a …

Payments-technology platform Pidgin said it has agreed to provide real-time payments capability to retail and commercial account holders at Exchange Bank. AffiniPay LLC, a payments platform for professional-services firms, has sold its accounting-software unit, Soluno, to ActionStep, a provider of practice-management technology. Terms were not disclosed. The U.S.-based blockchain firm Coinbase Inc. announced it …

Visa Inc. says a change to its dispute rules and processes will make it easier for merchants to fight so-called friendly fraud in card-not-present transactions. With such fraud, cardholders dispute legitimate transactions to claim a refund. Payments provider Deluxe Corp. will offer bill-payment technology from Aliaswire Inc. to its banking clients through a new …

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 …