Digital Transactions Authoritative, insightful and timely information for payments professionals
- The Consumer Financial Protection Bureau has fined Goldman Sachs “at least” $19.8 million in redress and assessed the company a $45 million civil-money penalty, while at the same time ordering Apple Inc. to pay a $25-million civil money penalty. The agency has also banned Goldman from introducing a new credit card “unless it can provide a credible plan that the product will actually comply with the law.” The penalties are related to the agency’s investigation into what it calls “customer-service breakdowns” and “misrepresentations” related to the credit card program backed by both companies.
- Global Payments Inc. will offer its U.S. online merchants PayPal Holdings Inc.’s Fastlane checkout service under a new agreement. Fastlane streamlines checkout processes for PayPal and Venmo transactions and for guest checkouts.
- Shift4 Payments Inc. has agreed to process payments at Capital One Arena, a Washington, D.C.-based stadium owned and operated by Monumental Sports & Entertainment. The agreement covers point-of-sale and kiosk sales as well as ticketing at the stadium.
- Payments provider Valor PayTech said it has completed its migration to Amazon Web Services, a move it says will enable faster speed and higher levels of speed and reliability for its system. The company processes for more than 200,000 devices.
- Spreedly, a provider of open-banking payments, said it is expanding its relationship with online-security firm Forter to offer clients new predictive-modeling technology aimed at higher authorization rates and improved transaction experiences for customers.
- Criminals are reverting from online to physical crimes such as tapping card readers against unsuspecting consumers’ wallets to transfer funds, according to “State of Scams: Fall 2024 Biannual Threats Report” from Visa Inc.
- Thredd, a United Kingdom-based processor, released “Launching in America,” a report on how non-U.S. payments providers can expand into the U.S. market.
- American Express Co. announced a new, multi-year sponsorship of the Formula 1 racing circuit, a move that will bring AmEx’s presence at races to 20 globally from the current five in the Americas under the current agreement.
- Fidelity Payment Services and its gateway, Cardknox, have rebranded collectively as Sola.
- Payouts Network has appointed Jon Anderson chief financial officer. Anderson’s experience includes roles at Dama Technology, Campus Advantage, and Netspend.
Related Articles
Check Also
Consumers Are Struggling to Pay Their Credit Card Bills on Time, J.D. Power Finds
Consumers may not be racking up more revolving credit card debt than they did in …