Alex Chriss took over as CEO a year ago and wasted no time shaking things up. Now he’s on a tear to spark growth. There’s no doubt Alex Chriss, PayPal Holdings Inc.’s chief executive and president since September 2023, has taken fully to heart his charge to boost the online …

Tokenization is the key to reducing the risks posed by an ever-rising flood of data breaches. Mastercard recently unveiled plans to eliminate manual card entry for online transactions in Europe by 2030, marking another milestone for tokenization in payment processes. This change aims to not only bolster payment security, but …

Retailers providing cash-back services at the point of sale fill a void for many consumers who may live in so-called banking deserts, the Consumer Financial Protection Bureau says in a recent report on the service. Some, however, charge a fee for that access, among other banking hurdles. The Cash-back Fees …

Online grocery delivery provides recipients of SNAP benefits with increased access to food and helps them feel less self-conscious about using their benefits, says a survey Monday from online food-ordering and -delivery service DoorDash Inc. Some 74% of the SNAP (Supplemental Nutrition Assistance Program) recipients surveyed said online shopping helps …

Reaction from the payments industry to the Justice Department’s announcement Tuesday that it is suing Visa Inc. over antitrust issues involving its debit card business was swift and pointed. As expected, representatives of the payments industry denounced the lawsuit as baseless, while representatives of the merchant community and legislators friendly …

The Electronic Payments Coalition late Wednesday filed an Amicus brief on behalf of the plaintiffs in a lawsuit challenging the Illinois Interchange Fee Prohibition Act. The lawsuit, brought by Illinois Bankers Association, Illinois Credit Union League, American Bankers Association, and America’s Credit Unions and filed last month in the United …

Merchants in the United States paid $224 billion in card-acceptance costs in 2023, the highest toll for merchants in any country in the world, according to payment consultancy CMSPI’s State of the Industry Report. Interchange fees alone accounted for $143 billion of that total. Since 2009, U.S. merchants’ like-for-like payment …

Adyen NV early Monday began launching what its calls an intelligent-routing service for debit cards intended to reduce merchants’ debit-acceptance costs and increase authorizations for purchases. The service, which enables Adyen to choose which network to route transactions over, was developed primarily in response to the Federal Reserve’s 2023 statement …

American Express Co. expects its pilot program enabling cardholders to add their payment information at participating online merchants will please cardholders and make for smoother checkouts. The pilot, announced Thursday, allows AmEx cardholders to add or update their card information and store it for use at a participating merchant through …

The iPhone maker will finally allow developers to access the device’s NFC chip and secure element. Will this trigger a payments bonanza in Cupertino? Ten years after the first iPhone with an NFC chip to enable Apple Pay launched, Apple is opening access to the chip to third-party developers. Apple …