Although the Consumer Financial Protection Bureau plans to develop a federal regulation governing the protection of consumer financial data shared through open banking, the agency says that open banking will be best served if it does not “micromanage” open banking itself. In October, the CFPB announced its intention to develop regulation …

Few retail markets have rebounded from Covid lockdowns as fast as restaurants have. And few have attracted as much attention from payments companies. No wonder. Sales at what the National Restaurant Association calls “eating and drinking places” in the United States totaled $88.1 billion in April, up 0.6% from March. …

The leveling off of e-commerce activity continues as online prices, as measured by the Adobe Digital Price Index, fell 2.3% in May from a year ago. This is the ninth consecutive year-over-year decrease in online prices, Adobe Inc. says. Of the 18 categories tracked by Adobe, prices fell in 11 …

Sylogist Ltd., a global provider of software-as-a-service to more than 2,000 public-sector customers across the government, nonprofit, and education sectors, has selected Nuvei Corp. as its payments processor. Nuvei will provide Sylogist with payments functionality including support for mobile wallets such as Apple Pay and Google Pay. In addition, Nuvei …

Card issuers and banks in Canada that offer apps featuring personal financial management tools are scoring higher in customer satisfaction and engagement than issuers and banks that don’t, according to research by J.D. Power. In a series of studies conducted earlier this year, J.D. Power found that many Canadian banks …

As proponents and adversaries wrangle over the newly resurrected Credit Card Competition Act, a market-research firm has raised by more than one-third its estimate of how much the bill could save U.S. merchants. A year ago, the firm, Atlanta-based CMS Payments Intelligence Inc., calculated the bill would result in $11 …

Chargebacks911 is setting the stage for an e-commerce world full of ever-increasing digital payment—and chargebacks, a frequent challenge to management. To help, it is bringing on two payments veterans, one who oversaw merchant acceptance at Apple Pay and another who led merchant services at Bank of America Corp. Eric Hoffman, …

The Credit Card Competition Act is making a comeback, this time with more bipartisan support. The bill, originally launched last summer by Sens. Richard Durbin (D-Ill.) and Roger Marshall (R-Kan,), is expected to be reintroduced in the Senate, apparently with few changes, as early as this week, according to an …

[Updated with new information over the weekend] An unknown number of Chase online-banking customers experienced duplicate Zelle debits to their accounts on Friday, while most anecdotal evidence suggests payees received only one payment. Zelle, the online peer-to-peer payment service, is integrated into Chase’s mobile app and online site. Early Warning …

The fraud that threatens real-time payments is quicker—and demands quicker action. Today’s world of instant gratification is about to take another big leap forward in July when a second real-time payments network debuts with the launch of FedNow, the Federal Reserve’s instant-payment network. Announced as a concept in 2019, two …