Online shoppers in the United States spent a record $222.1 billion during the holiday shopping season that ran between Nov. 1 and Dec. 31, a 4.9%increase from the same period a year earlier, according to Adobe Analytics. November was a strong month for online holiday purchases, with consumers spending $123.5 billion …
Read More »Wirex’s Latest Move Aims to Protect Users From Dark Web Scams
Digital-payments provider Wirex says it is working with ZeroFox Holdings Inc., a provider of cybersecurity technology, to incorporate ZeroFox’s Dark Web Monitoring app into its platform. Wirex’s blockchain-based service enables consumers to buy, sell, send, spend, and store fiat and crypto currency through the Wirex digital wallet. ZeroFox’s Dark Web …
Read More »The CFPB’s Chopra Cites a Need for Competition to Cap Card Acceptance Costs
Having taken aim at credit card late fees and interest rates, and having targeted non-bank digital wallet providers, Consumer Financial Protection Bureau Director Rohit Chopra has now indicated his regulatory agency is turning its attention to credit card acceptance costs. Chopra’s comments Thursday came as the Credit Card Competition Act, …
Read More »BNPL Adds to Its Appeal for the 2023 Holiday Shopping Season, And Not Just for Gifts
Buy now, pay later loans have become in a relatively short time a popular financing option for consumers, especially for holiday-season shopping. But now, that’s increasingly true not just for gifts, but for everyday purchases as well, according to data from payment-solutions and card-issuing platform provider Marqeta Inc. Based on …
Read More »With 2024 Looming, the EPC Vows to Continue Battling The CCCA
Citing a payments industry that is united in its opposition to the Credit Card Competition Act, research from the Congressional Research Service questioning the benefits of the legislation, and suspect support for the bill among members of Congress, the Electronic Payments Coalition says it is primed to continue its fight …
Read More »The Justice Department Takes Aim at Microtransactions Fraud
The U.S. Department of Justice announced late Friday it is filing cases against several fraud rings that use so-called microtransactions to mask their fraudulent activity from victims and card issuers. The lawsuits are being brought as part of efforts by the Justice Department’s Consumer Protection Branch to stop criminals that …
Read More »With Sale Rumors Swirling, Shift4 May Be Traveling Down An Alternative Path
With the payments industry abuzz since late Thursday with reports that the big processor Shift4 Payments Inc. is in talks to be acquired by Global Payments Inc.—reports Global Payments has denied— questions are emerging as to whether Shift4’s plans to grow through the exploration of strategic initiatives include a sale. …
Read More »Repay Partners With Green Dot to Enable Cash-Based Bill Payment
Repay Holdings Corp., a provider of payment-processing services, has partnered with Green Dot Corp. to enable Repay merchants to accept cash-based bill payments at more than 45,000 locations in the United States. The service depends on Green Dot’s eCash technology, which enables users to present a barcode that serves as …
Read More »The EPC Recruits Social Media Influencers to Turn Up the Heat on the CCCA
The Electronic Payments Coalition has opened a new front in its battle to prevent passage of the Credit Card Competition Act: it’s recruiting social-media influencers to join its cause. In June, the EPC put out a memo on the new tactic as part of its “Hands Off My Rewards” campaign …
Read More »Eye On BNPL: Affirm Teams Up With Blackhawk Network; Splitit Delists Upon Its Latest Cash Infusion
BNPL providers are expanding the utility of the payment option by enabling consumers to finance gift card purchases. BNPL provider Affirm Holdings Inc. announced Tuesday it is partnering with prepaid card platform provider Blackhawk Network Holdings Inc. to allow consumers to purchase digital gift cards on Affirm.com or in the …
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