Credit Cards

The United States Court of Appeals for the Fifth Circuit, in a ruling that vacates the Consumer Financial Protection Bureau’s 2017 Payday Lending Rule, contended the CFPB’s funding mechanism is unconstitutional because its funds are not appropriated by Congress.Visa Inc. said it is working with Thunes, a business-to-business payments company, to extend Visa …

Square, the payment-processing unit of San Francisco-based Block Inc., has unveiled two new apps for Square Terminal. The new apps, Square for Retail and Square Appointments, enable merchants to accept payments, returns, exchanges, and inventory inquiries at the counter, on the sales floor, curbside, or by opening another checkout counter …

The Federal Trade Commission has launched a probe into whether security tokens issued by Visa Inc. and Mastercard Inc. interfere with the ability of processors to route debit card transactions to alternative networks, according to The Wall Street Journal. Network choice for debit card transactions is mandated by the Durbin Amendment to the 2011 …

Fintech app Karma launched Pay with Karma, an embedded checkout service that enables for consumers a simplified purchase experience across different retailers with multiple payment options.Ammo Inc., owner of GunBroker.com, an online marketplace for the firearms and shooting-sports industry, said it will launch a proprietary payment-processing platform on or about Jan. 1.Mastercard …

Remitly Global Inc. Thursday announced it is making Visa Direct, Visa Inc.’s real-time push-payments platform, available to its customers in Canada. The deal expands Remitly’s online remittance service in Canada by providing Visa Direct as a payout option, the company says. With Visa Direct, Remitly customers in Canada can now …

Credit unions and other credit card issuers cheered as the provisions of the proposed Credit Card Competition Act fell short of becoming an amendment to a defense-authorization bill in Congress. The bill’s sponsors, including Sen. Richard Durbin, D-Ill., had attempted to attach the CCCA to the defense bill as a shortcut to making it …

A new Juniper Research report forecasted e-commerce fraud will exceed $48 billion globally in 2023, up from $41 billion in 2022.BJ’s Wholesale Club has selected Capital One as the issuer of the retailer’s cobranded Mastercard, which is set to launch early next year.Galileo Financial Technologies said it has been Visa Ready certified as an …

PayPal Holdings Inc. early Tuesday said it is making its new Zettle Terminal available to U.S. merchants generally following a rollout in Europe last year. The $199 device represents the e-commerce payments giant’s latest thrust into physical shops and restaurants and builds on technology acquired when it paid $2.2 billion …

Retailer Hollister Co. announced Share2Pay, a payment option that enables consumers to share their digital shopping bag with their purchaser, such as a parent or grandparent, to complete the purchase. Developed in-house, the service, in testing, found that customers who shared their bags placed orders at almost twice the rate of other …

Electronic Verification Systems, a provider of identity- and age-verification solutions, early Monday announced the launch of AssurePay, a credit card-verification platform that EVS says authenticates consumer credit card information at the beginning of the payment process, instead of while the card data is being held for processing. To validate a …