In a move to ensure consumer protection and regulatory oversight, the Consumer Financial Protection Bureau (CFPB) is proposing to supervise larger nonbank companies that offer services like digital wallets and payment apps. This proposal announced Tuesday (Nov. 7) comes as digital payment apps and wallets,...
Business-to-business (B2B) payments play a crucial role in the modern economy, with experts projecting a staggering $111 trillion in transactions between businesses by 2027. However, the traditional methods of payment, such as paper checks and Automated Clearing House (ACH) payments, continue to impede the progress...
Rohit Chopra, director of the Consumer Financial Protection Bureau (CFPB), has reportedly expressed concerns about the potential risks posed by payment systems that enable excessive surveillance and financial censorship. In a Friday (Oct. 6) speech at the Brookings Institution, Chopra emphasized the need for stronger protections against the...
Enterprise blockchain and crypto solutions provider Ripple is among the members of a cross-border payments task force recently formed by the Bank for International Settlements (BIS). As part of the cross-border payments interoperability and extension task force, Ripple will work with other organizations, including Mastercard and SWIFT, in fulfilling BIS’ goal to “enhance cross-border...
October 15, 2024
For businesses, cash is king. But a new threat, that of operational uncertainty and back-office opacity, is prowling around the kingdom’s perimeter. “Small businesses, fundamentally, just want control of their business,” Eliot Buchanan, president of Priority Tech Ventures, told PYMNTS. “Having control over your business is key to survival, and that control is often undermined […]
November 07, 2023
In a move to ensure consumer protection and regulatory oversight, the Consumer Financial Protection Bureau (CFPB) is proposing to supervise larger nonbank companies that offer services like digital wallets and payment apps. This proposal announced Tuesday (Nov. 7) comes as digital payment apps and wallets, driven largely by Big Tech and other large technology firms, […]
October 06, 2023
Rohit Chopra, director of the Consumer Financial Protection Bureau (CFPB), has reportedly expressed concerns about the potential risks posed by payment systems that enable excessive surveillance and financial censorship. In a Friday...
August 11, 2023
Enterprise blockchain and crypto solutions provider Ripple is among the members of a cross-border payments task force recently formed by the Bank for International Settlements (BIS). As part of the cross-border payments interoperability and extension task...
April 16, 2014
Russia Plans to Fine International Payment Systems for Freezing Accounts
