Consumers may be well acquainted with the concept of overdraft protection when writing checks, but early Monday Discover Financial Services said it is extending the service to its debit cards. Cardholders who hold the company’s Cashback Debit Checking account are eligible for the new service, called Balance+. “With Balance+ we …
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How the Supreme Court Has Set up an Intense Struggle Over Sellers’ Debit Card Costs
Decisions from the U.S. Supreme Court are supposed to settle matters, but a verdict the high court delivered early Monday has the potential to stir up debit card pricing questions for some time to come, some observers say. The justices, in a 6-3 decision, ruled a case brought by a …
Read More »Despite Exposure, AU10TIX Says There’s No Malicious Activity From Stolen Credentials
Allegations that sensitive identification data managed by Israel-based AU10TIX could have been accessible outside of verified access are not fully accurate, AU10TIX says. The suggestion of a possible data exposure comes from a 404 Media report that says online administrative credentials were exposed for more than a year, according to …
Read More »The Dawn of the Digital Payment Identity
In the Visa Flexible Credential, has the payments industry found its ultimately secure identity solution? New ways to use technology, changing consumer preferences, and comfort with digital payments may all be fostering the first steps toward a digital-payment identity. But is it time for a digital-payment identity? Visa must think …
Read More »FedNow at Year One
As the Federal Reserve’s real-time payments network celebrates its first birthday, the payments industry takes stock of its impact on instant transfers. Launched with great fanfare in July 2023, the widely and long-anticipated FedNow has largely enjoyed a successful first year. One area where the network has excelled is in …
Read More »The Ingredients of Success
The contrast between the approach in the U.S. and that in Europe underscores the importance of competition and innovation. Many U.S.-domiciled payment networks are relevant, even dominant, globally, whereas few European payment systems are. Europe and the United States are both served by a patchwork of retail, peer-to-peer, and interbank …
Read More »Tiptop Adds a New Twist to BNPL By Applying Trade-In Value to New Purchases
Tiptop Labs Inc., a payments-service provider, has launched a buy now, pay later program that allows consumers to trade in items for a credit toward a new purchase with select e-commerce merchants. The idea of applying trade-in value for a new purchase grew out of a trade-in-only app Tiptop launched …
Read More »What Would a Credit Card ‘Holiday’ Look Like?
In 1933, President Franklin Roosevelt shut down financial institutions for a week, called a “bank holiday,” to restore calm after a run on banks. This comes to mind after a federal judge recently indicated she won’t approve a settlement between the major card brands and merchants over the fees that …
Read More »Amazon Gives Visa’s BNPL Offering A Huge Boost In Canada
Visa Installments, Visa Inc.’s buy now, pay later platform, received a huge lift Thursday with the announcement that Amazon.com will offer the payment option to Canadian consumers. The payment option, which is being marketed in Canada as “Installments enabled by Visa,” has until now been available only through 100 Canadian …
Read More »Credit Cards Remain the Preferred Travel Payment Option for 58% of North Americans
The iconic ad slogan “don’t leave home without it” may have had its heyday in the 1970s, but its message still rings true for many consumers, especially when they travel. Among North American consumers, 58% prefer to use a credit card when traveling, found a new report from TSG, a …
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