E-Commerce

Several organizations representing banks and credit unions filed a lawsuit late Thursday challenging Illinois’s Interchange Fee Prohibition Act, which was signed into law June 7. The lawsuit, filed in United States District Court for the Northern District of Illinois, was brought by the Illinois Bankers Association, The American Bankers Association, …

While merchants, like consumers, love credit and debit cards, they don’t like having to pay to accept them. It’s human nature to want to pay less for products and services, no matter how good they are. To reduce payment-acceptance fees, merchants have brought a battery of antitrust lawsuits against Mastercard …

Cashback has replaced miles and rewards as the top credit card perk consumers want, according to J.D. Power’s 2024 U.S. Credit Card Satisfaction Study. The trend is being driven by inflationary pressures that have hiked credit card interest rates and annual fees. As a result, consumers are gravitating to cards …

FIS Inc. said it will make a peer-to-peer payment service from Neural Payments available to its banking customers. The white-label product enables bank customers to transfer money from their accounts to anyone, regardless of weather the recipient’s financial institution uses Neural Payments and without the need to download a third-party app …

It’s early days for artificial intelligence use, but already most consumers—74%—are concerned it could be used to advance further fraud attacks. That’s the word from risk-management provider Abrigo in its latest survey. In related news, ClearSale launched a suite of tools to help retailers counter online fraud. Fraud worries are …

Merchants were granted a second extension late Tuesday for filing claims against Visa Inc. and Mastercard Inc. in their ongoing class-action lawsuit against the two networks over interchange costs. U.S. District Court Judge for the Eastern District of New York Margo K. Brodie, who is presiding over the case, moved …

Lightspeed Commerce, a specialist in hospitality payments, launched Retail Insights, a data service for merchants. Shift4 Payments Inc. announced it will process all ticket sales and foodservice payments at Gainbridge Fieldhouse in Indianapolis, the arena for the Indiana Pacers of the National Basketball Association. U.S.-based fintech software firm OMNIQ Corp. said …

Debit cards are consumers’ favored method for paying bills, according to a report from bill-payment network doxo Inc. Some 62% of doxo users pay their bills using debit cards, compared to 24% who use the automated clearing house and 15% who opt for credit cards, according to doxo’s “The Bill …

When Bruce Lowthers took over a struggling Paysafe Ltd. two years ago, he immediately plunged into what he noted then was a wide-ranging reclamation project. On Tuesday, he called out some progress but also offered a blunt update on his transformation efforts. “We have the right strategy and our execution …

Mobile wallets vie for consumer attention, but tech-based ones are most favored as 54% of credit cardholders use one of the big three—Apple Pay, Google Wallet, or Samsung Pay—finds new research from Auriemma Group. Tracked by the New York City-based advisory firm since 2016 in its Mobile Pay Tracker, mobile …