News

January, 2025

• 17 January

  AmEx Settles With The DoJ Over Deceptive Marketing Practices; Shift4 Fined By The SEC

  

  American Express Co. reached an approximately $230 million settlement with the Department of Justice late Wednesday over allegations the card company engaged in deceptive marketing practices. The DoJ claims that AmEx’s deceptive marketing practices for its credit card and wire transfer products violated the Financial Institutions Reform, Recovery and Enforcement …
• 17 January

  U.S. Bancorp’s Acquiring Results Disappoint, but ‘Tech-Led’ Segment Shines

  

  U.S. Bancorp, owner of the big merchant processor Elavon, on Thursday reported merchant-acquiring volume of $142.6 billion in 2024’s fourth quarter, up 5% from $135.7 billion a year earlier. The company processed 2.11 billion merchant transactions in the quarter ending Dec. 31, a 5.5% increase from 2 billion a year …
• 17 January

  Chargebee Notes Click to Cancel Compliance and other Digital Transactions News briefs from 1/17/25

  

  Recurring payments specialist Chargebee said its Retention product is in compliance with the Federal Trade Commission’s Negative Option rule, or click to cancel rule. That rule intends to make canceling a subscription as easy as the sign up process among other stipulations. Jupiter Payments said Get Honest Solutions, an independent sales organization that used …
• 16 January

  Block Agrees to Pay CFPB Fines Over Cash App’s Alleged Sloppy Fraud Prevention

  

  Block Inc. reached an agreement with the Consumer Financial Protection Bureau early Thursday under which it will pay up to $175 million in restitution for what the CFPB claims were sloppy and misleading fraud-prevention practices used by Block’s Cash App. Under the terms of the agreement, Cash App has agreed …
• 16 January

  The Naughty List Grows: 13% Committed First-Party Fraud During the Holiday Shopping Season

  

  Some consumers better hope Santa Claus doesn’t read the latest fraud report from Socure, a fraud-prevention and authentication provider. It found 13% of U.S. consumers committed first-party fraud during the 2024 holiday-shopping season. Often called friendly fraud, first-party fraud occurs when a consumer exploits return and refund policies for financial …
• 16 January

  Apple Card Talks Continue and other Digital Transactions News briefs from 1/16/25

  

  Reuters is reporting that Apple Inc. is talking to Barclays to become the iPhone maker’s new partner for credit cards, replacing Goldman Sachs. Other financial institutions are said to be candidates as well, including Synchrony. Apple and Goldman launched the Apple card in 2019, but since then Goldman has indicated it will move …
• 15 January

  Gateway Funnel Pros Integrates With WooCommerce to Serve High Risk Merchants

  

  Gateway Funnel Pros, an alternative payment gateway specialist for merchants selling high-risk, regulated, or restricted products, has launched a payment gateway and merchant-account services for WooCommerce merchants selling health and wellness products, such as supplements, that some gateway providers may consider to be high-risk products. The integration will enable WooCommerce …
• 15 January

  Is 2025 Going to Be the Year of the Stablecoin?

  

  As 2025 begins to unfold, some experts and network providers are beginning to think the year could see a breakthrough for stablecoins, the digital currency generated by a blockchain but with a value tied to a national currency, such as the dollar. That link allows users to deploy digital dollars, …
• 15 January

  Transcore’s West Virginia Toll Deal and other Digital Transactions News briefs from 1/15/25

  

  Transcore announced it has activated its Infinity tolling technology on the West Virginia Turnpike. The payments platform ePayPolicy announced Quotes and Invoices, a service intended to help insurance companies guide customers from an initial quote to invoice and payment. Payments-software provider Eastnets announced it has achieved compliance with the European Union’s Digital Operational Resilience Act, …
• 14 January

  A CFPB Study Weighs in on the Buy Now, Pay Later Trend

  

  Consumers with subprime or deep subprime credit scores accounted for the majority of buy now, pay later originations from 2021 to 2022, a report by the Consumer Financial Protection Bureau finds. Within those two subsets, 45% of BNPL loans during that period were taken out by consumers with deep subprime …