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- The Federal Trade Commission issued a proposed rule that would require sellers to offer a “click to cancel” button that customers could use to more easily stop subscriptions and recurring payments.
- A global survey on cross-border payments found 29% of mid-size and large U.S. businesses cite high transaction cost as a challenge, with 28% naming foreign exchange and regulations as the top challenge and 24% naming risk management. The results stem from the “2023 State of B2B Cross Border Payments” report from Rapyd, which surveyed 715 businesses in the U.S. and six other countries in February.
- Payments provider National Merchants Association launched point-of-sale and kiosk products under the Lola brand name.
- Payments-technology provider Priority Technology Holdings Inc. reported fourth-quarter 2022 revenue of $177.6 million, up 23.3% year-over-year, and full-year 2022 revenue of $663.6 million, up 28.9% from 2021. Adjusted EBITDA for the quarter was $39.8 million, up 21%; for the year, $140.3 million, a 45.7% increase.
- Valid Systems, a risk-management provider for the banking industry, launched a check-deposit technology designed to deliver immediate access to funds for bank customers seeking to make real-time transfers.
- Private bank and Bitcoin custodian Xapo Bank said it is working with Circle Internet Financial Inc. to become the world’s first licensed bank to offer a digital-currency payment platform as an alternative to SWIFT.
- Buy now, pay later specialist Splitit Payments Ltd. said its Splitit Checkout Plugin is available in the SAP Store, an online marketplace for SAP users.
- The Securities and Exchange Commission has notified the major cryptocurrency exchange Coinbase Global Inc. that the agency believes Coinbase has violated investor-protection laws and intends to take action against the company, according to The Wall Street Journal. The newspaper quoted a Coinbase executive saying the company is “confident in the legality of our assets and services.”
- Financial technology services provider Computer Services Inc. named Linda Fischer chief operating officer. Fischer most recently was senior vice president and general manager of NCR’s hospitality division. CSI also hired John Blevin as senior vice president and general counsel, and made three other promotions.
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