News

September, 2022

• 20 September

  Does Its Debut in the House Confer Momentum on Durbin’s Credit Card Legislation?

  

  An effort backed by many of the nation’s major retailer trade groups to put a lid on credit card acceptance costs took a big step forward Monday with the introduction in the House of Representatives of the Credit Card Competition Act. The bill, launched in July in the Senate, seeks …
• 20 September

  How Crashing Crypto Values And Government Scrutiny Sent Crypto ATMs Into a Slump

  

  Deployment of cryptocurrency ATMs in 2022 significantly lags the pace seen last year, and one factor hastening the slowdown is increased regulatory scrutiny, sources say. Crypto ATMs are specialized kiosks that allow consumers to purchase Bitcoin and other cryptocurrencies using cash or a debit card. Increasingly, regulators in several countries …
• 20 September

  Second Thoughts On Gun Code And Other Digital Transactions News briefs from 9/20/22

  

  The Wall Street Journal reported that Republican attorneys general for 23 states have warned American Express Co., Mastercard Inc., and Visa Inc. to stop their effort to create a merchant code for gun stores, alleging the effort could result in a mishandling of consumer data and would fail in its purpose of preventing gun …
• 19 September

  Flexbase Technologies Brings Buy Now, Pay Later To B2B Transactions

  

  Seeking to carve out a slice of business-to-business sales, Flexbase Technologies Inc., a San Francisco-based fintech that provides financing technology to businesses, has launched a buy now pay later app for the B2B market. The app, called Flexbase Pay, provides a fresh twist on the traditional net-60 credit terms in …
• 19 September

  The Credit Card Industry Faces a Cardholder Issue on Top of Durbin’s Routing Threat

  

  As the Federal Reserve prepares to raise interest rates for what would be the fifth time this year, U.S credit card holders are already feeling the squeeze. Some 60% of all cardholders are not only in debt to the issuer, they have been in debt for a year or more, …
• 19 September

  Netcetera and Mastercard And Other Digital Transactions News briefs from 9/19/22

  

  Netcetera, a provider of digital-payments software, has joined Mastercard Engage, the card company’s global partner network.Canada-based payments provider OTT Pay Inc. has expanded to the U.S. market to offer a cross-border payments platform for global e-commerce merchants.Technologies such as smart phones and the Internet will drive digital payments volume to $19.89 trillion …
• 16 September

  Block’s Cash App Expands Its Merchant Reach in a Deal With Adyen

  

  Adyen Inc. has become the first third-party processor to offer Block Inc.’s Cash App mobile wallet to merchants. The news comes hard on the heels of reports earlier this month that Block had opened its Cash App wallet for payments to e-commerce merchants outside the Square seller network. Square is …
• 16 September

  NCR To Split into Two Companies And Other Digital Transactions News briefs from 9/16/22

  

  NCR Corp.’s board approved a plan to split the company into two publicly traded entities, one concentrating on digital commerce and the other on ATMs. The move is expected to take place at the end of next year.Warehouse-store chain BJ’s Wholesale Club said it will accept SNAP EBT payments across all of its …
• 15 September

  The CFPB’s Buy Now, Pay Later Report Offers a Regulatory Outline, But No Sweeping Overhaul

  

  Long anticipated, a report from the Consumer Financial Protection Bureau offers suggestions on how regulation might aid the buy now, pay later industry, but doesn’t recommend a wholesale review of its practices. Among the risks outlined in the “Buy Now, Pay Later: Market trends and consumer impacts” report, released Thursday, are …
• 15 September

  Dwolla And MX Aim at a Broader Approach to Open Banking

  

  The open-banking platform MX Technologies Inc. has become the latest partner in Dwolla Inc.’s Secure Exchange solution. Through the partnership, which builds on the two companies’ existing relationship, digital-payments fintech Dwolla will be able to offer clients and reseller partners it has in common with MX access to account-verification services …