Banks in Zelle, the peer-to-peer payment network operated by Early Warning Services LLC, have been issuing refunds to consumers duped by fraudsters into sending money using the network, according to a report Monday by Reuters.  The reimbursements, which the banks have reportedly been paying out since June 30, represent a …

The political battle over the Credit Card Competition Act has heated up as the Small Business Payments Alliance (SBPA), a recently formed merchant trade group, has come out in opposition to the proposed legislation. The group argues that, if passed, the CCCA would harm small businesses. The SBPA, which held …

The Consumer Financial Protection Bureau late Tuesday said it is expanding its efforts to increase oversight of large, non-bank technology firms with a proposed rule that would subject companies that issue digital wallets to the same regulations as those that cover wallets from financial institutions. The proposed rule, which would …

Long-time credit union service and financial-technology providers PSCU and Co-op Solutions announced a merger late Monday. The merged entity, which has yet to be named, will create an end-to-end payments system for credit unions of all sizes, PSCU chief executive and president Charles E. “Chuck” Fagan, promised during a press …

Restaurant-management platform provider OpenTable Inc. is offering 1,000 vouchers for Uber rides to diners eating at restaurants participating in San Francisco’s Restaurant Week. The promotion is intended to encourage visitors and locals to dine out during the event, which actually runs for two weeks from Nov. 3 through Nov. 16. …

The big processor Nuvei Corp. extended its reach into open banking Thursday through an agreement with American Express Co. to sell AmEx’s Pay with Bank transfer open-banking solution. Pay with Bank transfer (PwBt) enables consumers to pay for purchases directly from their bank account online or in-store. The partnership comes …

Gift cards are becoming a popular employee incentive, Fiserv Inc.’s “Q4 2023 Gift Card Survey” finds. Some 80% of respondents say they would prefer a gift card as a reward from their employer, while 9% say they would prefer an event or outing, and 11% would prefer some other type …

The payments-technology provider Dwolla Inc. has integrated its Dwolla Connect platform for account-to-account payments in open finance. The integration will enable Dwolla Connect clients to transfer open-finance data to the Dwolla platform, the company says. As a result, financial institutions and third-party open-banking providers, such as Plaid Inc. and MX …

More than four years after it began testing its own blockchain-based stablecoin, JPMorgan Chase & Co. is processing $1 billion in transaction volume per day for JPM Coin, Takis Georgakopoulos, JPMorgan’s global head of payments, told Bloomberg News during an interview. Created in 2019 and launched in 2020, JPM Coin …

Lyric.ai, a provider of artificial intelligence-based payment accuracy solutions for healthcare payers, has partnered with Codoxo, an AI-based cost-containment platform provider, to improve payment accuracy processes for health-plan payers. Lyric will offer Codoxo’s ClaimPilot, Audit Scope, Payment Scope, Provider Scope, and Fraud Scope applications to its customers via LyricIQ, its …