“Whether a shopper swipes a credit card or uses Buy Now, Pay Later, they are entitled to important consumer protections under longstanding laws and regulations,” CFPB Director Rohit Chopra said.| Payments Dive
U.S. regulators want to learn more about how buy now, pay later loans may affect borrowers’ finances and housing market stability.| Payments Dive
Bill Holdings’ weak revenue growth and sagging stock attracted a prominent hedge fund to buy a large stake in the payments and accounting software firm.| Payments Dive
Sen. Dick Durbin threw his weight behind an Illinois law that would nix interchange fees on taxes and tips, supporting the edict in a court document filed Friday.| Payments Dive
Senate Democrat Dick Durbin is intent on pursuing the Credit Card Competition Act, and perhaps preserving his political future.| Payments Dive
The Electronic Payments Coalition is “fully funded” for the continuing fight over the proposed Credit Card Competition Act this year, said the organization’s executive chairman.| Payments Dive
The South Dakota billing and payments software company was purchased by the Chicago private equity firm GTCR.| Payments Dive
Apple, Visa and others must be “more aggressive” in banning payment authorization for nonconsensual content, state AGs told the companies.| Payments Dive
A CFPB rule proposed Tuesday would restrict the bureau’s ability to supervise nonbanks. The agency said it aims to adopt a binding, standardized definition of “risks to consumers” that would make enforcement consistent.| Payments Dive
Regulators need greater insight into the impacts of buy now, pay later lending, multiple groups said in their comments to U.S. housing officials.| Payments Dive
A trade group representing earned wage access providers backs introduction of a bill outlining federal oversight for the emerging industry.| Payments Dive
The processor aims to prepare its merchant clients for the opportunities and risks of AI-driven agentic shopping.| Payments Dive
Doctors and dentists have been unable to grow their revenue as inflation and interest rates cause patients to reduce their visits, the CEO of Rectangle Health says.| Payments Dive
Investments in the payments sphere plummeted for the first half of the year, as did acquisitions in the area, according to a KPMG report.| Payments Dive
The search for faster and cheaper global payments is leading many companies to consider the use of stablecoins for remittances.| Payments Dive
The federal government and industry organizations warn that fraudsters could use the advanced technology to hack into payments systems.| Payments Dive
Some analysts are pressing the processor to consider divesting the segment that caters to financial institutions, even as its merchant segment grapples with competition.| Payments Dive
The payments processor expects to undertake possible divestitures, beginning this year, as part of an effort to jump-start revenue in subsequent years.| Payments Dive
The mega processor may sell assets after the Worldpay purchase revised its outlook. The company also expects Trump tax benefits.| Payments Dive
The buy now, pay later industry sued to block the consumer-friendly rule, arguing that the services are not the same as those offered via credit cards.| Payments Dive
Banks seeking to halt a new Illinois law that bars credit card interchange fees on taxes and tips succeeded on one front, but not another, at least for now.| Payments Dive
The state may become the first in the nation to outlaw the imposition of credit and debit card interchange fees on state excise tax and tips.| Payments Dive
The Consumer Financial Protection Bureau and its former court foes are now in agreement: an open banking rule shouldn't be considered lawful.| Payments Dive
That move bends to bank groups that filed a lawsuit last year to block the Consumer Financial Protection Bureau rule aimed at making it easier for consumers to move their financial accounts.| Payments Dive
Fidelity National Information Services and Global Payments unveiled a deal Thursday in which FIS plans to buy the latter’s issuer business and sell its Worldpay stake.| Payments Dive
The Financial Technology Association will seek to protect a Consumer Financial Protection Bureau open banking rule after receiving a federal judge’s permission to intervene.| Payments Dive
The federal agency hinted this week that it will scrutinize earned wage access services and their fees to determine whether they're subject to lending laws. It also suggested it may revisit Trump-era policies regarding such businesses.| Payments Dive
After its pandemic-era growth spurt, buy now, pay later has gone mainstream in consumer payments. But changing economic conditions are forcing the installment trend to evolve.| Payments Dive
The federal agency plans to weigh in on EWA services, it said in commenting on a California proposal to register and oversee the providers of such services.| Payments Dive
Nonbank fintechs are pushing for access to the new federal faster payments system as its launch date next year approaches.| Payments Dive
