The Biden administration dashes ahead with an interdepartmental effort to design a digital dollar, following the European Union and China, which are very excited about the tight surveillance power given to government through the emerging technology of digital money. The U.S. effort, which was kicked off by a presidential executive …

The U.S. Supreme Court early Thursday upheld the constitutionality of the Consumer Financial Protection Bureau by a 7-2 vote, reversing an October 2022 ruling by a federal appeals court in New Orleans that had held the means by which the bureau is funded violates the U.S. Constitution. The CFPB, created in 2008, receives its …

After months of speculation that Shift Payments Inc. was an acquisition target, company founder and chief executive and founder Jared Isaacman confirmed Thursday the company had indeed received multiple offers. The acknowledgment came at the outset of Shift4’s first quarter earnings call early Thursday. Despite the offers being “materially higher” …

Block Inc. chief executive Jack Dorsey fired back at news reports that the U.S. Department of Justice is investigating the company for alleged compliance lapses at Block’s Square and Cash App units. The reports “lack full context,” Dorsey said during Block’s quarterly earnings call late Thursday. News of the investigation …

It’s May, and that means it’s time for our annual exercise to seek out and describe the payments players, apart from the big networks, that are rewriting the rules for the digital exchange of value. Capital One Financial Corp.’s bombshell announcement in February that it is offering to acquire Discover …

GenAI carries risks, some not yet well-known. But its potential to transform payments is too compelling to ignore. Generative AI has been described as a Gold Rush for businesses looking to cash in on the better user experiences and operating efficiencies it is said to create. It has also been …

Firing back at a Federal Trade Commission lawsuit alleging deceptive practices in the bill-payment business, doxo Inc. has issued a statement claiming the charges are inaccurate and push a narrative that will prevent bill-payment providers from streamlining the digital bill-payment process. The FTC lawsuit, filed late last week, charges doxo …

Payments platform Paysafe, already a competitive processing option for online gaming sites, added a pay-by-bank option enabling online bettors to fund deposits instantly in their accounts. It also can be used for cashing out winnings. The service, which Paysafe says carries no fees to bettors but offers a tiered pricing …

Capital One Corp.’s chief executive late Thursday struck back against concerns that the banking giant’s proposed acquisition of Discover Financial Services will dampen competition in banking and payments. “The facts will show there are no barriers to entry in the credit card business,” declared Richard Fairbank as he fielded questions …

Buy now, pay later provider Splitit Payments Ltd. has launched an installment-payment option for financial institutions that consumers can access at the point-of-sale. Financial institutions can offer the option by connecting directly to Splitit’s merchant networks, through a direct link or through a card network. The payment option, called FI-PayLater, …