The Fifth Circuit’s ruling that the way the agency is funded is unconstitutional opens the door to rewrite its remit and take politics out of its decisions. Paraphrasing Leon Trotsky, payment systems, processors, fintechs, and financial-services firms may not be interested in the CFPB, but the CFPB is interested in …

The payments industry has forged a symbiotic relationship with cloud computing. That isn’t likely to be swept away any time soon. More than two years ago, Global Payments Inc. took a big leap into marrying cloud computing with payments. The big payment processor signed an agreement with Amazon.com Inc. to …

As businesses grapple with today’s economic uncertainty, many are facing difficult budget and resource constraints. But as company leaders focus on the slowing economy, they must not forget about cybercriminals. Placing fraud prevention on the backburner risks falling behind sophisticated fraudsters, who constantly take advantage of economic uncertainty, and refine …

Consumers are projected to be shopping more online this holiday shopping season, compared to the same period a year ago. Data released Tuesday by payments-technology provider ACI Worldwide Inc. projects a 15% increase in e-commerce transactions from October through December, compared to the same period in 2021. The projected increase …

Acquirers are trying to disentangle the many implications of the proposed Credit Card Competition Act. Some doubt the bill’s impact would be good. This road has been traveled before. This time, U.S. Sen. Richard Durbin (D-Ill.) wants to place restrictions on credit card practices, specifically transaction-routing practices. As Digital Transactions …

Consumer electronics giant Samsung Electronics is looking to expand to 13 new markets for its Samsung Wallet service. Announced Friday, the expansion of the digital-wallet platform will more than double its presence from the eight nations where it is already available. Samsung Wallet is the new brand for the combined …

Adyen Inc., a long-time online payments provider, is further boosting its in-store payment acceptance options with the addition of two new point-of-sale devices. Both were designed by Adyen. Dubbed the NYC1 and AMS1 devices, they complement a suite of other POS terminals launched in January. The NYC1 device is designed …

Restaurant-technology provider ParTech Inc. announced it has acquired Menu Technologies AG, an omnichannel ordering platform serving international restaurant brands. Terms were not disclosed.The Western Union Co. expanded its integration of Visa Direct, Visa’s real-time payment service, to its U.S. network, enabling consumers to send or receive funds directly to their eligible Visa debit …

MoneyGram International Inc. said its MoneyGram Online digital service had second quarter revenue of $53.3 million, up 13% from $47 million in the same quarter in 2021. Its overall revenue of $329.6 million in the quarter, was up slightly from $329.3 million revenue in the 2021 second quarter. MoneyGram posted a …

Amazon.com Inc.’s two-day Prime Day event this week racked up more than $12.09 billion in sales, up 8% from last year’s event, according to an estimate from Digital Commerce 360.Privately held payments provider Stripe Inc. reduced the internal value of its shares by 28% to about $29 per share, resulting in a valuation for the …