Issuing/Originating

Small businesses claim they have legitimate concerns that their larger counterparts will be the beneficiaries of lower card acceptance costs should the Credit Card Competition Act become law, argues the Small Business Payments Alliance, a trade organization recently formed by the Electronic Payments Coalition. Among the concerns about how the …

Zelle, the person-to-person payment service from Early Warning Services LLC, said it will launch a consumer education campaign video series this month to help educate consumers how to spot and avoid financial scams, specifically imposter scams. Zelle, in a statement to Digital Transaction News, also said most Zelle transactions—99.9%—are without any …

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 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 …

Card manufacturer CPI Card Group Inc. reported $105.9 million in third-quarter revenue, a 15% decrease from $124.6 million in the 2022 third quarter. It had a profit of $3.9 million, a 67.2% decrease from $11.9 million a year ago. Cautious consumer spending and a focus on managing inventory levels likely had an …

Fraud at call centers operated by financial services organizations increased 39% from 2019 to 2022, according to new data from TransUnion LLC. That was the third-largest increase among sectors, surpassed only by travel and leisure and logistics, finds the TransUnion “2023 State of Omnichannel Fraud Report.” The report is based …

More than 10 years after Visa Inc. wrote its rules permitting surcharging on its credit cards, questions remain among acquirers, especially those selling or considering surcharge programs for their merchants. Now, as more merchants mull surcharge or cash-discount programs to alleviate some of their card-acceptance costs, and with recent changes …

According to recent research, American households carried a whopping $17.1 trillion in total debt as of the second quarter of 2023. The herculean effort to become debt-free continues to weigh on the shoulders of millions of Americans. We’ve seen the landscape of the U.S. workforce change drastically over the past …

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 …