Law and Regulation

Visa Inc. late Tuesday reported a continued recovery in cross-border payments, double-digit increases in U.S. payments volume, and no let-up in the industry’s general shift to contactless payment. It also faced a question regarding Visa Direct and its links to instant peer-to-peer payments services that the Consumer Financial Protection Bureau …

The issue of consumer losses to fraud on peer-to-peer payment apps is about to get hotter as the Consumer Financial Protection Bureau is reportedly preparing a probe of the matter. The bureau’s action will likely include new requirements for banks to reimburse consumers victimized in cases where they sent cash …

In recent times, we have witnessed an explosion in the neobanking sector, with emerging digital-only providers benefiting from rapid digitization. Now, as this sector begins to mature, companies must find a way to retain customers that may want to transition back to traditional banking companies. To do so, businesses in …

Consumers’ loss of funds to fraud and other deceptive activity on peer-to-peer payment networks has drawn the attention of U.S. Senators, who are demanding answers on the matter from the big banks that own the Zelle P2P network. The senators’ actions come as P2P activity has boomed in response to …

Adyen NV has been selected to process payments for Fast Retailing, operator of the Uniqlo platform of clothing stores and sites.Authentic Brands Group, which includes Eddie Bauer and Forever 21, settled a lawsuit against commerce platform Bolt. The two companies will continue to work together.The peer-to-peer payments platform Paxful Inc. has selected iProov, a provider …

The U.S. District Court for the Eastern District of New York announced merchants that incurred an unreimbursed EMV or chip fraud liability shift chargeback from Oct. 1, 2015, through Sept. 30, 2017, on a Visa, Mastercard, Discover, or American Express credit or debit card transaction can submit a claim in a pending class …

Payactiv Inc., a payments provider said to have pioneered the field of earned-wage access, said late Thursday it is scrapping its access fees. The move makes several of the company’s options, including automated clearing house transfers, “completely free,” the San Jose, Calif.-based company says. Payactiv’s action follows a move this …

Price inflation is rising at its fastest rate since the early 1980s, and that’s prompting dueling releases from both foes and advocates of card interchange, the fee merchants pay when consumers use credit and debit cards. Merchant groups have long inveighed against interchange—also referred to as “swipe fees”—as a cost …

Blockspaces, a company that links businesses to blockchain networks, announced it will work with Cogent Bank to use the bank’s real-time, tokenized payment platform and other services.Digital-giving platform DipJar said it is releasing early access to DipJar Online, an online version of its in-person fundraising app.Digital payments provider One Inc said insurer Union Mutual …

Chargebacks911 said it is working with AirlinePros, a distribution company for airlines, to combat chargebacks wrongly filed against air carriers as air travel continues to recover.In related news, the Mastercard Economics Institute estimated 1.5 billion more passengers will book flights in 2022 than did so last year, indicating a rebound for air travel …