Law and Regulation

The First National Bank of Omaha launched a buy now, pay later service that enables merchants to offer installment payments to consumers. FNBO tapped EXL, an operations management and analytics company, and Skeps, a point-of-sale loan originations platform, to help develop the service. The BNPL service can be integrated into e-commerce Web …

U.S. payments networks continue to cultivate their connections to what is for them a potentially massive market in China. In the latest development, Leshua Technology announced early Friday it will support acquiring for American Express Co.’s joint venture in China.  AmEx last year became the first foreign payments company to win …

Same-day transaction processing on the automated clearing house network will turn five years old this month, and while that may provide one reason for participants to celebrate, network governor Nacha issued another one Wednesday morning: both same-day transactions and same-day dollar volume are soaring. Transactions totaled 148.7 million in the …

Apple Inc.’s App Store and the Google Play store will have to open their payments services to competing providers for in-app purchases in South Korea if a recently passed bill becomes law, reported The Wall Street Journal, which also said the president’s party endorsed the legislation. Apple, in particular, has been the …

Apple Inc. will permit developers of applications for its App Store to tell customers by email that they can pay for products and services by means other than Apple’s own payment platform, according to a preliminary settlement announced Thursday. The settlement apparently will let developers skirt what are said to …

Till Inc., a rental payment provider, announced four new features enabling tenants to pay rent. One, Budget and Save, enables tenants to allocate rent in smaller installments for their entire rent prior to the due date. Landlords still receive the full rent amount on the due date. Another feature, Rewards …

Of 500 companies that process at least 500 online monthly transactions, 58% say their chargeback rates have gone up since March 2020, and of these, 45% say the biggest reason likely is delivery delays, according to a survey by fraud-prevention technology firm Kount, a unit of Equifax Inc.Payment processor EirthPay announced its launch. …

While the two global payments networks have been embroiled in a controversy over merchant debit card fees in the U.S. market, they also face trouble in the United Kingdom over an even bigger issue: credit card interchange fees. That fact was thrown into relief early Thursday when Reuters reported the …

Mastercard Inc. said it will slowly phase out the requirement that its branded cards have a magnetic stripe in favor of the EMV chip. Beginning in 2024, in most markets, newly issued Mastercard credit and debit cards will not be required to bear the magstripe. By 2033, Mastercard said none of …

When talking about crypto exchanges, it’s common to divide them into the big, stable, safe, reliable ones on the one hand, and the little, unknown, shady, and suspicious ones on the other. However, the Financial Conduct Authority (FCA), the UK’s financial regulator, seems not to have a very high opinion …