Tuesday , January 28, 2025

Issuing/Originating

A Senate Panel Sends a Signal: Time to Cut a Deal on Swipe Fees

Members of the Senate Judiciary Committee told representatives of Visa Inc., Mastercard Inc., and the merchant community on Tuesday it was time to “negotiate” an end to their decades-old dispute over credit card swipe fees. The comments came during a Senate Judiciary Committee hearing billed as “Breaking the Visa-Mastercard Duopoly: …

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APP Fraud To Reach $7.6 Billion by 2028 in Six Countries, ACI Says

Authorized push payment fraud could reach $7.6 billion in six markets, ACI Worldwide Inc. says in its latest Scamscope report. Released Wednesday, the report looks at APP fraud in the United States, United Kingdom, India, Brazil, Australia, and the United Arab Emirates, all markets with real-time payments. APP fraud happens …

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Google Pay Adds Afterpay And Klarna; BluPeak CU Launches BNPL for Its Debit Card Holders

Afterpay, Block Inc.’s BNPL service, is making its service available to select Google Pay merchants for online purchases for the holiday-shopping season. Klarna will be available through Google Pay merchants in the United States next year. Consumers shop on Google more than 1 billion times per day, according to Google …

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Xoom Users Can Settle Transfers in the PYUSD Stablecoin, PayPal Says

PayPal Holdings Inc. has made another move in its efforts to leverage its Xoom cross-border payments platform for its stablecoin, PYUSD. The payments giant early Tuesday said Xoom users will be able to use PYUSD to settle money transfers they make through the service. The news comes just seven months …

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58% of Spending Made with Debit Cards and other Digital Transactions News briefs from 11/19/24

Debit cards not using prepaid funds accounted for 58% of U.S. card spending in 2022, the Atlanta Fed noted in a review of a Federal Reserve Payments Study released last week. Credit cards were used for 36% of payments and 6% of payments were made with prepaid debit cards. Cantaloupe Inc. will serve as …

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Discover Grows Its International Presence Through a Pair-Up With Telered in Panama

Discover Global Network continues to expand its international business through a deal with Panamanian payment processor Telered S.A. Telered manages the Sistema Clave, or Clave System, which Discover says is the largest interbank network of ATMs and points of sale in Panama. In business for more than 30 years, Clave’s …

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Paysafe Beefs up Its Sales Force As It Looks for Merchant Growth

Since he took over as chief executive in 2022, Paysafe Ltd.’s Bruce Lowthers has stressed what he sees as a crucial need for stronger, and direct, merchant sales to effect the turnaround he wanted to see at the international processing giant. Early Wednesday, he noted the company is ahead of …

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Gen Zers Are Struggling With Credit Card Debt, CreditCards.com Finds

Gen Zers struggle to pay their monthly credit card bills, with 56% having missed a payment or making a late payment, says a study from CreditCards.com. In addition, some 9% of Gen Zers rely on parental support to pay their credit card bills. Compounding these difficulties with credit card bills …

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Block Focuses on Using Loans, Afterpay, and Cash App to Power Its Growth

The big payments platform Block Inc. will remain focused on its Afterpay buy now, pay later offering, on its Cash App digital wallet, and on increasing access to Square Loans, said Block chief executive Jack Dorsey late Thursday during the company’s third-quarter earnings call. Dorsey stressed the key importance of …

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Nearly Half of Consumers Say They’re More Satisfied With Their Card Issuer After Suffering Fraud, As Fraud Remains a Threat

Despite the ever-present threat of fraud, almost half of consumers tend to have a more positive opinion of their credit card issuer after becoming fraud victims, according to J.D. Power’s “U.S. Financial Protection Satisfaction Study,” released Thursday. Some 49% of credit card holders say they have a more positive impression …

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Digital Transactions