PAYMENTS NEWS
Mastercard Takes AI-Driven Fraud Defense to Next Level
Apr 25, 2024
Mastercard is bringing an artificial intelligence (AI)-driven, partnership approach to detecting and preventing identity and payments scams before they can result in victimizing consumers.
PayU Receives RBI Authorization to Operate as Payments Aggregator
Apr 25, 2024
PayU has received in-principle authorization from the Reserve Bank of India (RBI) to operate as a payments aggregator.
Visa profits jump as struggling customers turn to plastic to pay bills
Apr 25, 2024
Credit card usage has increased dramatically in the US in recent months, as customers increasingly struggle to pay for everyday items and charge them instead to cards.
CFPB Head Wary of Big Credit Card Mergers
Apr 25, 2024
America’s leading consumer finance watchdog is skeptical about giant mergers between credit card companies.
Frictionless payments: adopting technological advancements to tackle security concerns
Apr 23, 2024
Ray Shinzawa, Managing Director at JCB International (Europe), discusses how merchants can adopt technological advances to offer frictionless payments and address security concerns.
Mastercard Launches Mobile Virtual Card App to Simplify Travel and Business Expenses
Apr 19, 2024
Mastercard announced a new mobile virtual card app that enables virtual commercial cards to be seamlessly added to digital wallets. The innovative app is designed to offer financial institutions more choice in how they deliver the secure and sustainable contactless payment solutions that companies increasingly expect.
Visa Launches Enhancements for its Acceptance Platform
Apr 19, 2024
Visa Inc. on Wednesday unveiled enhancements intended to further remove friction from the customers’ payment experience for merchants of all sizes.
US senators introduce new stablecoin bill
Apr 18, 2024
For months, Senators Kirsten Gillibrand and Cynthia Lummis had hinted that they were preparing legislation to establish guardrails for stablecoin issuers and users.
US, Europe lock arms on payments regulation
Apr 16, 2024
U.S. and European regulators have joined forces to monitor digital payment concerns, including those related to buy now, pay later financing and big tech market participation.
Get Set for the Passage to Passkeys
Apr 12, 2024
The technology promises to thwart cyberthieves while simplifying authentication for consumers.
Schumer presses Capital One, Discover on merger deal
Apr 9, 2024
Senate Majority Leader Charles Schumer, D-N.Y., sent a letter to the CEOs of Capital One and Discover asking for additional information regarding the companies' proposed $35 billion merger.
Mobile Wallets and Contactless Payments Growing in Popularity, NFC Forum Says
Apr 8, 2024
Consumers are not only favoring contactless payments more, they are relying more on their mobile wallets to initiate payments, according to the NFC Forum’s bi-annual Near Field Communication Usage and Adoption study.
The CFPB Targets Mobile Wallets
Apr 8, 2024
The Consumer Financial Protection Bureau is at it again. If you develop or manage mobile-payment apps, you might want to pay attention. The agency’s proposed rules, aimed at so-called larger participants, may ensnare you, even if you’re only a fraction of the size of, say, Google or Apple.
Time to Embrace FedNow’s Request for Payment
Apr 9, 2024
Request for Payment (RFP) isn’t a novel concept in banking or payments, but it will drive a lot of innovation over the next decade. Many institutions will rely on RFP functionality in the new FedNow service as their primary mechanism for real-time payments because it’s a data-rich, low-risk way to enable fast payments.
Mastercard Plans a Network Fee Hike for Later This Month. Merchants Aren’t Happy
Apr 5, 2024
Mastercard merchants will see a network fee increase later this month when Mastercard increases its Acquirer Brand Volume Fee from 0.13% to 0.14%, effective April 15.
CFPB's Rohit Chopra warns of 'creep of consolidation' in bank M&A
Apr 5, 2024
Rohit Chopra, director of the Consumer Financial Protection Bureau, said in Wednesday remarks that meeting antitrust standards shouldn't be enough to accept a bank merger application.
Will the Capital One-Discover merger be approved? A guide to the issues
Apr 4, 2024
Capital One says it can help make Discover a stronger competitor to Visa and Mastercard. The deal's critics question that assertion and worry that the combined company would be a credit card giant, particularly in the subprime segment.
A Signature Habit
Apr 3, 2024
More than six years ago, the requirement that credit card transactions made at the point of sale be completed with a signature was lifted by the four U.S. card brands. But today, many consumers are still presented with a receipt or a screen to sign for a credit card transaction, especially if a tip is expected.
Warning Shots Fired Over AI Hype vs Reality
Apr 3, 2024
The rapid rise of artificial intelligence (AI) has sparked a heated debate among experts, with some warning that the hype surrounding the technology may be overshadowing genuine scientific advancements.
How Amex is entangled in the Visa-Mastercard settlement
Apr 1, 2024
The settlement gives merchants the ability to surcharge for nearly all Visa and Mastercard credit card transactions, and puts pressure on American Express to allow the same.