Issuing/Originating

Merchants and financial institutions that use 3-D Secure to help vet online transactions in markets that require its use see fraud rates that are three to six times lower than for all card-not-present transactions. That’s one finding from a Outseer-sponsored report completed by the research and consulting firm Datos Insights. …

A new federal lawsuit against Apple Inc. alleges the iPhone maker restricts competition in peer-to-peer payments by hampering rivalry with its own Apple Cash app. The restrictions, the suit charges, include provisions against what the suit calls “feature competition,” such as cryptocurrency payments, that could moderate pricing for peer-to-peer payment …

The People’s Bank of China and the National Administration of Financial Regulation, China’s financial regulatory body, on Monday greenlighted Mastercard Inc.’s joint venture, Mastercard NUCC Information Technology (Beijing) Co. Ltd, to commence domestic bankcard clearing in China. The approval process took about three years. In February 2020, China’s central bank …

Payments provider Paysafe Ltd. announced it will integrate network tokens from Visa to mask credit and debit card account numbers. The Federal Reserve Board announced an average 1.8% increase in pricing for established services such as check clearing and automated clearing house transactions, with pricing for the FedNow real-time network, which launched in July, …

Consumers’ concerns about incurring credit card debt this holiday season is pushing many shoppers to consider buy now, pay later loans as a budget-management option, according to a report from the payments firm Klarna AB. Some 53% of respondents expressed concern about incurring credit card debt during the holiday season. …

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 …