Both Walmart and FinTech company Branch said Monday (Dec. 23) that they will defend themselves “vigorously” against a Consumer Financial Protection Bureau (CFPB) lawsuit filed against the companies. The CFPB sued Branch and Walmart Monday, alleging that the companies illegally opened accounts for gig economy...
The American Bankers Association (ABA) said the proposed amendments to Regulation II that would cap debit card interchange fees are “fundamentally flawed and should not be finalized.” In a Thursday (Dec. 12) letter addressed to Federal Reserve Board Chair Jerome H. Powell, ABA Senior Vice...
Earlier this year, PYMNTS Intelligence found that more than half of consumers were not aware of pay-by-bank options, or were hesitant to use them. In an age where relationships with banks are nearly ubiquitous — the Federal Reserve noted last month that just about 96%...
The United Kingdom’s Payment Systems Regulator (PSR) proposed a price cap on cross-border interchange fees and is seeking comment on the level at which the cap should be set. The PSR is doing so after publishing a final report on its market review in which...
December 26, 2024
Sweeping changes to debit card interchange fees — and the ways debit transactions are facilitated — may come in 2025. As a result, the economics of debit payments may also change, with ripple effects that impact issuing banks, merchants and consumers. The Fed in Focus Front and center is what will happen with the Federal […]
November 12, 2024
The restaurant industry is experiencing a technological transformation that’s reshaping the dining experience. At the center of it are ongoing innovations in payments and convenience — not the least of...
October 25, 2024
As consumer habits change, payment preferences are becoming segmented based on shopping channels. A PYMNTS Intelligence Report, How People Pay: Debit Leads in Stores, Credit Leads Online, reveals a distinct...
October 11, 2024
As 2024 draws to a close, and as evidenced by management remarks and data in the latest earnings results from JPMorgan Chase, posted on Friday (Oct. 11), consumer spending, in...
December 23, 2024
Both Walmart and FinTech company Branch said Monday (Dec. 23) that they will defend themselves “vigorously” against a Consumer Financial Protection Bureau (CFPB) lawsuit filed against the companies. The CFPB sued Branch and Walmart Monday, alleging that the companies illegally opened accounts for gig economy delivery drivers without their consent, required drivers to receive their […]
December 16, 2024
The American Bankers Association (ABA) said the proposed amendments to Regulation II that would cap debit card interchange fees are “fundamentally flawed and should not be finalized.” In a Thursday...
December 13, 2024
The United Kingdom’s Payment Systems Regulator (PSR) proposed a price cap on cross-border interchange fees and is seeking comment on the level at which the cap should be set. The...
December 12, 2024
Walmart and investment firm Ribbit Capital are reportedly leading a funding round of more than $300 million for FinTech startup One, which is majority-owned by Walmart. The round, which has...
