Personalized financial-management tools and digital assistants will provide the pathway for banks and card issuers to differentiate their mobile apps or Web sites from those of competitors and drive adoption and usage, according to a new report from J.D. Power. The best opportunities for card issuers will come from offering …

Merchants have been granted a 90-day extension to file a monetary claim as part of the settlement of a nearly two-decades-old interchange lawsuit filed against Visa and Mastercard. Merchants now have until Aug. 30 to file their claims, the court overseeing the settlement has ruled. A settlement between Visa and …

Claims by banks that merchants won’t pass along savings from the Credit Card Competition Act to consumers are grossly misleading and do not reflect the economic realities merchants face, argues the Merchants Payments Coalition, a lobbying group representing sellers on payments-acceptance matters. Passing along cost savings or at least holding …

Tap-to-pay technology for ordinary smart phones is a relatively recent development, but payments companies aren’t wasting any time offering it as it spreads into new countries. The latest example comes from Canada, which became the latest market expansion Thursday for Apple Inc.’s tap to pay on iPhone technology. The first …

The Consumer Financial Protection Bureau on Wednesday issued an interpretive rule that buy now, pay later users are entitled to some of the same rights and protections of the Truth in Lending Act that apply to credit cards. Protections the CFPB says consumers are entitled to include the right to …

Account takeover, long the scourge of retailers and businesses, remained the top fraud type in 2023, according to the latest data from LexisNexis Risk Solutions. Released Wednesday, the “Confidence Amid Chaos” report found 28.7% percent of fraud in 2023 was third-party account takeover. That was followed by scams and bonus …

Despite some claims to the contrary, the odds are long that merchants would pass on any potential savings to consumers from the Credit Card Competition Act, payments experts say. One argument for this is that merchants price products on a line-item basis, which means the savings on a single product …

Point-of-sale technology for the ultra-competitive restaurant market gained even more momentum Monday as several key players unveiled new solutions. The announcements were in conjunction with the annual National Restaurant Association show taking place in Chicago. Digital-commerce technology platform NCR Voyix Corp., formerly NCR Corp., introduced its Aloha Pay-At-Table technology, an …

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 …

The big processor Worldline S.A. is working with Visa Inc. to launch a virtual business-to-business card-issuing facility for online travel agencies. The deal marks the first foray for Paris-based Worldline beyond payment processing.  The partnership will integrate Worldline’s Merchant Services Acceptance capabilities with its Financial Services Card issuing platform to …