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- The Consumer Financial Protection Bureau has fined Goldman Sachs “at least” $19.8 million in redress and assessed the company a $45 million civil-money penalty, while at the same time ordering Apple Inc. to pay a $25-million civil money penalty. The agency has also banned Goldman from introducing a new credit card “unless it can provide a credible plan that the product will actually comply with the law.” The penalties are related to the agency’s investigation into what it calls “customer-service breakdowns” and “misrepresentations” related to the credit card program backed by both companies.
- Global Payments Inc. will offer its U.S. online merchants PayPal Holdings Inc.’s Fastlane checkout service under a new agreement. Fastlane streamlines checkout processes for PayPal and Venmo transactions and for guest checkouts.
- Shift4 Payments Inc. has agreed to process payments at Capital One Arena, a Washington, D.C.-based stadium owned and operated by Monumental Sports & Entertainment. The agreement covers point-of-sale and kiosk sales as well as ticketing at the stadium.
- Payments provider Valor PayTech said it has completed its migration to Amazon Web Services, a move it says will enable faster speed and higher levels of speed and reliability for its system. The company processes for more than 200,000 devices.
- Spreedly, a provider of open-banking payments, said it is expanding its relationship with online-security firm Forter to offer clients new predictive-modeling technology aimed at higher authorization rates and improved transaction experiences for customers.
- Criminals are reverting from online to physical crimes such as tapping card readers against unsuspecting consumers’ wallets to transfer funds, according to “State of Scams: Fall 2024 Biannual Threats Report” from Visa Inc.
- Thredd, a United Kingdom-based processor, released “Launching in America,” a report on how non-U.S. payments providers can expand into the U.S. market.
- American Express Co. announced a new, multi-year sponsorship of the Formula 1 racing circuit, a move that will bring AmEx’s presence at races to 20 globally from the current five in the Americas under the current agreement.
- Fidelity Payment Services and its gateway, Cardknox, have rebranded collectively as Sola.
- Payouts Network has appointed Jon Anderson chief financial officer. Anderson’s experience includes roles at Dama Technology, Campus Advantage, and Netspend.
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