Credit Cards

Debit cards remain the preferred payment for online sports bettors, with 42% of bettors saying they use debit cards to fund their accounts, according to Paysafe Ltd.’s annual All the Ways Players Pay report. It is the third consecutive year debit ranked as bettor’s preferred payment method. Digital wallets were …

American Express Co. reached an approximately $230 million settlement with the Department of Justice late Wednesday over allegations the card company engaged in deceptive marketing practices. The DoJ claims that AmEx’s deceptive marketing practices for its credit card and wire transfer products violated the Financial Institutions Reform, Recovery and Enforcement …

U.S. Bancorp, owner of the big merchant processor Elavon, on Thursday reported merchant-acquiring volume of $142.6 billion in 2024’s fourth quarter, up 5% from $135.7 billion a year earlier. The company processed 2.11 billion merchant transactions in the quarter ending Dec. 31, a 5.5% increase from 2 billion a year …

Recurring payments specialist Chargebee said its Retention product is in compliance with the Federal Trade Commission’s Negative Option rule, or click to cancel rule. That rule intends to make canceling a subscription as easy as the sign up process among other stipulations. Jupiter Payments said Get Honest Solutions, an independent sales organization that used …

Some consumers better hope Santa Claus doesn’t read the latest fraud report from Socure, a fraud-prevention and authentication provider. It found 13% of U.S. consumers committed first-party fraud during the 2024 holiday-shopping season. Often called friendly fraud, first-party fraud occurs when a consumer exploits return and refund policies for financial …

Reuters is reporting that Apple Inc. is talking to Barclays to become the iPhone maker’s new partner for credit cards, replacing Goldman Sachs. Other financial institutions are said to be candidates as well, including Synchrony. Apple and Goldman launched the Apple card in 2019, but since then Goldman has indicated it will move …

Payments platform Checkbook has acquired sureti, a provider of technology for the distribution of insurance payouts. Terms were not announced. The Consumer Financial Protection Bureau said it is asking for comment on implementing existing financial privacy law and how to address what it labeled intrusive data collection and personalized pricing. It also wants comment …

Opponents of the proposed Credit Card Competition Act expect the bill will be reintroduced in Congress, so the Electronic Payments Coalition launched a pre-emptive strike late Wednesday with a report detailing the bill’s potential economic impact. The study, conducted by Oxford Economics Research, claims the CCCA’s impact on the U.S. …

A state senator in Oklahoma has introduced the Bitcoin Freedom Act, a bill that would legalize payroll and vendor transactions in Bitcoin in that state. The move follows the state’s passage last May of a Bitcoin Rights bill. FV Bank, a digital financial institution, has expanded its stablecoin offerings with an integration …

The Consumer Financial Protection Bureau sued credit reporting agency Experian over claims it unlawfully failed to properly investigate consumer disputes. In a statement, Experian says the lawsuit is without merit. “It is contrary to longstanding regulatory and judicial precedent and is another example of irresponsible overreach by the CFPB. Our legal position …