The latest controversy about the law, which passed in June, revolves around a study from the Electronic Payments Coalition that says the largest merchants stand to see millions of dollars in interchange relief from the law, while small merchants would receive minuscule savings by comparison. Released late Wednesday, the EPC …

Arguments over whether the U.S District Court for the Northern District of Illinois should grant a preliminary injunction to block the scheduled implementation of the Illinois Interchange Fee Prohibition Act were heard yesterday in Chicago. While the judge did not issue a ruling, she did question both plaintiffs and defendants …

Despite the dark cloud the U.S. Department of Justice’s recent lawsuit over Visa Inc.’s debit business has cast over the network, Visa finished its fiscal year 2024 on a strong note. Among the highlights during Visa’s earnings call late Tuesday were growth in credentials, tokens, and merchant locations, along with …

Shift4 Payments Inc. early Monday gave cryptocurrency a big shot in the arm as a payment option with the announcement it will support digital currencies across its merchant network.   Shift4 will support coins including Bitcoin, Ethereum, and Solana SOL, as well as  US Dollar Coin and other major stablecoins, …

Mastercard Inc. announced early Friday it is expanding its Installments payments program to all eligible digital points of sale within its network in the United States. The expansion will enable merchants, financial service providers, payment processors, and digital-wallet providers to present installment offers to consumers through any eligible credit card …

While the Consumer Financial Protection Bureau is being sued over its data-privacy rule, merchants remain optimistic the regulation will help them reduce the impact of swipe fees by making account-to-account payments widely available at the point of sale. The key is open banking, which paves the way to developing payment …

No sooner had the Consumer Financial Protection Bureau released its personal financial data rights rule Tuesday than the rule was legally challenged by the banking industry. The lawsuit, filed late Tuesday by the Bank Policy Institute and the Kentucky Bankers Association, alleges the CFPB has overstepped its bounds by issuing …

The Consumer Financial Protection Bureau has finalized its personal financial data-rights rule aimed at governing the sharing of consumer data through open banking. The new rule, released early Tuesday, will require financial institutions, credit card issuers, and other financial providers to share data at a consumer’s direction with companies offering …

Real-time payments network Thunes Ltd. announced early Monday its connection to Swift, the Brussels-based international financial-messaging network, will enable financial institutions to support the sending and receiving of money to and from more than 3 million mobile wallets globally. Using Thunes’s Direct Global Network, which covers 130 countries and 80 …

Despite the number of data breaches during the third-quarter of 2024 declining 8% from the previous quarter, criminals are better armed than ever for carrying out these nefarious attacks, according to the Identity Theft Resource Center. One factor making it easier for criminals to initiate a data breach is the emergence …