News

January, 2025

• 9 January

  Expecting A CCCA Revival, Opponents Spell Out the Bill’s Economic Impact

  

  Opponents of the proposed Credit Card Competition Act expect the bill will be reintroduced in Congress, so the Electronic Payments Coalition launched a pre-emptive strike late Wednesday with a report detailing the bill’s potential economic impact. The study, conducted by Oxford Economics Research, claims the CCCA’s impact on the U.S. …
• 9 January

  The CFPB Picks FDX for Oversight of U.S. Open Banking Standards

  

  The Consumer Financial Protection Bureau said Thursday U.S. open-banking standards will be developed under the aegis of Financial Data Exchange Inc., a standards-setting body. The CFPB recognized FDX as the standard-setting body under the bureau’s Personal Financial Data Rights rule. The final version of that rule was released in October, …
• 9 January

  Crypto Payroll Payments? and other Digital Transactions News briefs from 1/9/25

  

  A state senator in Oklahoma has introduced the Bitcoin Freedom Act, a bill that would legalize payroll and vendor transactions in Bitcoin in that state. The move follows the state’s passage last May of a Bitcoin Rights bill. FV Bank, a digital financial institution, has expanded its stablecoin offerings with an integration …
• 8 January

  Doxo Launches an All-In-One App Aimed at Removing ‘Fragmentation’ From Bill Payments

  

  Bill-payment platform doxo Inc. has launched an app it says streamlines both bill payment and management and helps consumers avoid hidden costs, such as overdraft fees, when paying their bills.   The app, called doxoBILLS, allows users to organize and pay bills to more than 120,000 billers and pay any …
• 8 January

  Seven Years in, the Big Banks’ Real Time Network Nears a Million Transactions a Day

  

  Consumers and businesses are embracing instant payments at a fast clip, even as volume growth makes double-digit increases harder to maintain. And while businesses account for a large portion of dollar volume, most of those blink-of-an-eye transactions involve consumers, says The Clearing House Payments Co., which early Wednesday released the …
• 8 January

  CFPB Sues Experian and other Digital Transactions News briefs from 1/8/25

  

  The Consumer Financial Protection Bureau sued credit reporting agency Experian over claims it unlawfully failed to properly investigate consumer disputes. In a statement, Experian says the lawsuit is without merit. “It is contrary to longstanding regulatory and judicial precedent and is another example of irresponsible overreach by the CFPB. Our legal position …
• 7 January

  Adobe Analytics: Online Holiday Sales Hit A Record High In 2024

  

  Consumers spent a record $241.4 billion online from Nov. 1 to Dec. 31, 2024, an 8.7% increase from the same period a year earlier, Adobe Analytics reports. During this period, single-day online sales totaled more than $4 billion on 15 days, up from 11 days in 2023. Smart phones accounted …
• 7 January

  Eye on Point of Sale: Elo’s New Display; FreedomPay’s Verifone Partnership; Blaze’s Sage Integration

  

  Point-of-sale systems makers are already putting 2025 to work, with multiple announcements from vendors. First, Elo Touch Solutions Inc. launched a 10-inch point-of-sale system for retailers and restaurateurs. The Elo Pay 10” is built on the Android operating system. In addition to contact and contactless payment acceptance, the device has …
• 7 January

  X9 Issues QR Code Standard and other Digital Transactions News briefs from 1/7/25

  

  The Accredited Standards Committee X9 Inc. has published a standard, “QR Code Protection Using Cryptographic Solutions, X9.148,” laying out how to create secure QR codes. Nuvei Corp. announced it will provide payments processing in a partnership with GIG, a technology company specializing in the iGaming business. Paysafe Ltd. has won approval from the …
• 6 January

  Affinity FCU Partners With a Payments Fintech to Boost Financial Literacy

  

  Affinity Federal Credit Union is working with fintech Greenlight Financial Technology Inc. to launch a financial-literacy program. The program will provide Affinity members and their families free access to Greenlight’s mobile app and debit card for kids and teens. The app allows parents to manage their child’s spending, send money, …