With Colorado Governor Jared Polis signing Senate Bill 21-091, repealing the state’s ban on credit card surcharging, Colorado has a surcharging law that not only ensures proper disclosure about surcharges to consumers, but mirrors the surcharging rules implemented by Visa Inc. and Mastercard Inc. The new law, signed by Polis …
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The U.S. Justice Department charged two individuals in a $19 million credit card laundering scheme. Arrested were Steven Short, former head of E.M. Systems & Services LLC on charges of fraudulently obtaining credit card processing services for his allegedly deceptive Florida-based telemarketing operation. From 2012 to 2015, Short and E.M. Systems, …
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With his eponymous Durbin Amendment, passed into law just over a decade ago, Illinois’s senior senator intended to hurt large banks, along with Visa and Mastercard. The text, however, couldn’t be as expressly punitive as Durbin might have liked. He would likely have preferred capping debit interchange and network acquirer …
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Consumer usage of buy now, pay later has increased significantly over the last couple of years. Research from Auriemma Consulting Group Inc. reveals the number of debit card holders offered a BNPL option in-store or online increased more than 10 percentage points between the first quarter of 2019 and the …
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U.S. retail sales increased 11% in June from June 2020, according to the latest Mastercard Inc. SpendingPulse report. They were up 10.4% compared to June 2019. E-commerce sales increased 8.3% year-over-year and were up 95% over June 2019.Payments provider Paysafe Ltd. launched a program that lets travel businesses accepting consumer payments to use a …
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As consumers return to physical stores, Splitit USA Inc., a buy now, pay later provider, announced it is making its service available in-store and including availability with Apple Pay and Google Pay.Fly Now Pay Later, a United Kingdom-based fintech, announced a deal with Cross River Bank in New Jersey that will …
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Allied Payment Network Inc., a provider of online and mobile bill-payment services, said it will work with New York Digital Investment Group (NYDIG) institutions using Allied to offer customers the ability to buy, sell, and hold Bitcoin. Allied said it and NYDIG plan to add digital payments via Bitcoin.Reuters reported …
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Fraud-management platform Riskified Ltd. has filed for an initial public offering of its Class A Ordinary Shares. Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, and Credit Suisse Securities (USA) LLC are the lead underwriters. Barclays Capital Inc., KeyBanc Capital Markets Inc., Piper Sandler & Co., Truist Securities, Inc., …
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PayPal Holdings Inc.’s decision to bring its Zettle point-of-sale technology to the U.S. market may not surprise observers, but the move presents some formidable challenges, chiefly in the form of the existing competition, some observers say. At the same time, they add, Zettle brings a potent brand that fills a …
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Health-care technology provider R1 RCM Inc. has closed on its acquisition of VisitPay LLC, a platform specializing in medical payments. R1 announced in early May it would acquire VisitPay for approximately $300 million in cash.Personal-finance app provider Charlie Finance Co. announced new services, including DirectPay, which lets users link credit cards to the app …
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