Saturday , March 22, 2025

Law and Regulation

Debit Networks Prepare As a Fed Clarification on Network Choice Sinks in

Debit card networks are gearing up for an expected flood of new online transactions in the wake of a Federal Reserve rule clarification that took effect more than a month ago to require that issuers enable network choice for online as well as in-person transactions. The latest example emerged late …

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Why Card Skimming, Already Bad, Is Getting Worse

Card skimming remains a vexing problem in the United States, with the number of reported incidents increasing 20% during the first half of 2023 compared to the same period in 2022, according to the credit-data firm FICO. More concerning, however, is that the number of cards compromised as a result …

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iWallet’s RDC in the Field And Other Digital Transactions News briefs from 8/7/23

Fintech iWallet, whose technology lets repair personnel and other field-service providers process checks on a smart phone, said it is seeing growth among small businesses such as those in the plumbing, appliance-repair, electrical, and HVAC fields. Financial-technology provider Ascend will provide its billing-technology platform to process transactions for NFP, a property and casualty …

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Eye On iGaming: Nuvei Partners with 888; Paysafe’s Expansion Move; IPSI’s Joint Venture

Canadian fintech Nuvei Corp. is partnering with iGaming operator 888 Holdings Inc. to provide card acquiring and payment in the United States. The deal expands both companies’ footprint in the U.S. market Montreal-based Nuvei will enable 888 to accept deposits into iGamers’ accounts. In addition, iGamers will be able to …

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Block’s Revenue Jumps 25% As It Continues Its Upmarket Push

Block Inc., corporate parent of Square and Cash App, posted $5.5 billion in second-quarter revenue, a 25% jump from $4.4 billion in the same quarter a year ago, as the payments provider pushes on with its move to add larger merchants. The midmarket segment now accounts for 40% of its …

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Financial Institutions Are Embracing The Clearinghouse’s Request for Payment Capabilities

The Clearing House Payment Co. LLC, operator of the Real Time Payments network, said Wednesday that more financial institutions are making use of its Request for Payment capabilities. Request for payment has been a feature of The Clearinghouse’s real-time payments network since it launched more than five years ago. The …

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FIS Logs a Flat Quarter And Avoids a Question Regarding Credit Card Routing

As FIS Inc. prepares to dispose of a majority interest in its merchant-acquiring unit, the big processor confronts other key questions regarding potentially favorable developments in the payments business. Still, its top brass proved reluctant early Wednesday to discuss those questions, one of which touched on opportunities the proposed Credit …

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Mastercard Is ‘Ready To Compete’ for Online Debit Volume, Says CEO Miebach

With payments-industry competition rapidly getting more intense, long-established players such as Mastercard Inc. could lose out if they don’t change with the times. But Mastercard’s chief executive signaled Thursday that change is just what his company is doing. “We stand ready to compete,” declared Michael Miebach during Mastercard’s second-quarter earnings …

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Visa’s CEO Delicately Fields Questions About the Company’s Merchant Relations

Visa Inc.’s top brass, during the company’s quarterly earnings conference call Tuesday afternoon, preferred to talk about fast-growing newer lines of business such as value-added services and transaction sources apart from traditional plastic credit and debit cards. But stock analysts on the call had questions about some sensitive merchant-relations issues, …

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The CCCA Won’t Harm Card Issuers’ Ability to Fund Rewards Cards, MPC Says

The latest battle in the war over the proposed Credit Card Competition Act has focused on the question whether the legislation would cut rewards and other benefits for cardholders. Citing research from the consulting firm CMSPI, the Merchants Payments Coalition, a lobbying group for sellers, argues that passage of the …

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Digital Transactions