Credit Cards

The Consumer Financial Protection Bureau has sent a letter to the chief executives of JP Morgan Chase, Citibank, Bank of America, Capital One, Discover, and American Express asking them to explain the practice of omitting data about consumers’ monthly credit card payments when sending information to credit-reporting companies. The CFPB contends the …

Payments-technology provider Paddle announced it has acquired ProfitWell, a vendor of software for subscription metrics and retention automation. The deal is valued at more than $200 million in cash and equity.Apple Inc.’s tap-to-pay on iPhone is rolling out to its retail stores today, according to a Twitter post from Bloomberg reporter Mark Gurman. The …

Mastercard Inc. launched Cyber Front, a platform aimed at helping businesses and governments combat online intrusions through the simulation and assessment of cyber attacks.MoneyGram International Inc. said its shareholders have approved a previously announced, $1.8-billion acquisition by private-equity firm Madison Dearborn Partners LLC. The merger is expected to close in the fourth …

Using services like Zelle, Cash App, Venmo, and PayPal is a no-brainer when it comes to making payments in our personal lives. In fact, 94% of Millennials, 88% of Gen Xers, and 87% of Gen Zers are using payment apps in place of cash and credit cards. Now there’s a …

Outdoorsy, a company that arranges rental of recreation vehicles, said it will accept payments through PayPal Holdings Inc.’s buy now, pay later service, Pay in 4.Klarna AB initiated a three-day event called “Dream Deal Days” to observe hitting 150 million users and 400,000 merchant partners. The event, held across 19 markets around …

Block Inc.’s Square unit late Thursday unveiled a suite of hardware and software tools the company says is aimed at helping restaurants manage orders, payments, and their overall business more efficiently as they wrestle with worker shortages and other fallout from the pandemic. The new technology also comes as competition …

SpotOn, a payments-technology provider serving restaurants and retailers, raised $300 million in a Series F funding round led by Dragoneer Investment Group LLC. The round, which comes just eight months after a Series E funding, values the company at $3.6 billion.Sphere, a healthcare payments and security software company, launched a …

Mastercard Inc. says the future of payments at the point of sale includes the ability to make a point-of-sale payment using a facial image without having to present a credit or debit card or a mobile device. Under its new Biometric Checkout Program, Mastercard has begun testing the service, the …

Looking to add a new twist on buy now, pay later loans, provider Splitit Payments Ltd. Tuesday announced a new BNPL-style loan that will leverage a consumer’s open-to-buy on their payment cards to pre-qualify them for an installment loan at the point-of-sale. To qualify for the loan, merchants run a pre-authorization …

As the U.S. economy moves farther from the worst of the Covid pandemic, credit and debit card spending may be stabilizing, according to new data from The Strawhecker Group, a payments advisory and research firm. Released as part of the AIM Headline Report series, the Growth & Inflation Analysis 2022 …