News

May, 2024

• 17 May

  A Bill That Would Cut the Number of Banks Covered by Durbin Advances Out of Committee

  

  A bill containing a provision that would raise the asset threshold for debit card issuers covered by the Durbin Amendment narrowly passed in a vote late Thursday by the House Financial Services Committee. The committee voted 24-22 in favor of advancing the bill, called the Bank Resilience and Regulatory Improvement …
• 17 May

  Will Its Supreme Court Victory Embolden an Already Activist CFPB?

  

  The Consumer Financial Protection Bureau’s victory at the Supreme Court on Thursday answers for now the question of its constitutionality and may quiet the agency’s critics, who view it as a largely unnecessary agent of federal power operating with an overly aggressive agenda. But some payments experts fear the decision, …
• 17 May

  MagTek Teams with KwikPOS on Handheld Device and other Digital Transactions News briefs from 5/17/24

  

  Point-of-sale technology provider MagTek Inc. said it has worked with KwikPOS, a developer of POS systems for restaurants, to develop a handheld device that links to MagTek’s gateway and uses the company’s mobile card reader. Tassat Group Inc., a real-time settlement platform based on blockchain technology, announced it will work with cross-border …
• 16 May

  Embracing digital payment options and fueling payment innovation in Canada

  

  Jon Purther, Director, Research, Payments Canada   The Canadian payment landscape continues to transform rapidly, fueled by shifts in consumer and business needs and expectations and technology innovations. Looking ahead, it’s clear that continued innovation will further expand choice within the Canadian payment ecosystem. The payment preferences of Canadians Canadians …
• 16 May

  Eye On Restaurants: NCR Voyix Launches a Self-Service Kiosk; Lightspeed’s Q4 earnings

  

  Digital-commerce technology provider NCR Voyix Corp., formerly part of NCR Corp., has partnered with self-ordering software provider GRUBBRR to introduce a new ordering kiosk for restaurants. The kiosk, which integrates with NCR Voyix’s commerce platform, was developed as a response to consumers’ growing preference for self-service ordering, the company says. …
• 16 May

  Visa Revamps its Payments Approach

  

  Visa Inc. is taking up the notion of a digital payment identity and making it part of its product mix. Announced Wednesday at the Visa Payments Forum in San Francisco, the Visa Flexible Credential is but one of several products the payments network formally debuted, including broader tap-to-pay capabilities, a …
• 16 May

  Supreme Court Upholds CFPB Funding and other Digital Transactions News briefs from 5/16/24

  

  The U.S. Supreme Court early Thursday upheld the constitutionality of the Consumer Financial Protection Bureau by a 7-2 vote, reversing an October 2022 ruling by a federal appeals court in New Orleans that had held the means by which the bureau is funded violates the U.S. Constitution. The CFPB, created in 2008, receives its …
• 15 May

  Beyond payment acceptance – Leveraging APIs and open banking to provide more value

  

  By Steven Velasquez, Senior Vice President and Head of Partner Business Development – U.S. Bank | Elavon The emergence of open banking, financial services APIs, and banking as a service has changed the landscape of the payments ecosystem. It is no longer enough to offer integrated payments with your software …
• 15 May

  Eye On Travel: Worldline’s Virtual Card Platform; Consumers Are Traveling More

  

  The big processor Worldline S.A. is working with Visa Inc. to launch a virtual business-to-business card-issuing facility for online travel agencies. The deal marks the first foray for Paris-based Worldline beyond payment processing.  The partnership will integrate Worldline’s Merchant Services Acceptance capabilities with its Financial Services Card issuing platform to …
• 15 May

  Eye on ISVs: Booksy Adds Tap to Pay on iPhone; Usio Could See $20 Million in Revenue From a Single ISV

  

  With an eye to making it easier for consumers to pay how they want, Booksy Inc., a booking platform for beauty-service appointments, is adding Tap to Pay on iPhone as an option. The contactless payment method enables consumers to use their contactless credit or debit cards, or an iPhone with …