Industry

Appeals Court Voids FTC’s ‘Click to Cancel’ Rule Just Before It Starts

The Hill

"The Federal Trade Commission’s (FTC) “click-to-cancel” rule was struck down by an appeals court on Tuesday, just days before it was set to take effect. The rule, announced in October 2024, would have required sellers to make it “as easy for consumers to cancel their enrollment as it was to sign up.”"

Industry

House Announces Week of July 14th as “Crypto Week”

U.S. House Committee on Financial Services

"House Committee on Financial Services Chairman French Hill (AR-02), House Committee on Agriculture Chairman GT Thompson (PA-15), and House Leadership announced that the week of July 14th will be “Crypto Week.” The House of Representatives looks forward to considering the CLARITY Act, the Anti-CBDC Surveillance State Act, and the Senate’s GENIUS Act as part of Congress’ efforts to make America the crypto capital of the world."

Industry

Stablecoins Are Trending, but What Frictions and Risks Are Getting Overlooked?

Atlantic Council

"The world is enthusiastic about stablecoins. Circle * , the issuer of the $62 billion USDC stablecoin, completed its initial public offering earlier in June and just applied for a banking license. Stripe, by acquiring the Texas-based company Bridge, now enables its business customers to hold, send, and receive stablecoins. Visa has unveiled a bank stablecoin issuance platform, and major non-financial firms like Amazon and Walmart are reportedly considering stablecoin issuance. On June 17, the US Senate passed the GENIUS Act, the country’s first federal regulation for stablecoins backed by the US dollar (USD), and the bill is heading for approval in the House of Representatives."

Industry

Combating Financial Crime in the Era of Instant Payments

Thomson Reuters Law Blog

"Instantaneously completed financial transactions are quickly becoming an expectation across all financial services industries. Customers want the convenience of a frictionless experience, with the tremendous popularity of newer instant payment systems like Venmo and Zelle driving this expectation."

Industry

Nacha Supports Executive Order to Eliminate Federal Check Payments, Citing Cost Savings and Fraud Reduction

Business Wire

"Nacha submitted formal comments in support of Executive Order 14247, 'Modernizing Payments To and From America’s Bank Account,' applauding the Treasury Department’s efforts to eliminate paper checks for federal disbursements and collections. The executive order, which directs a full transition to electronic payments by Sept. 30, 2025, for federal disbursements, aligns with long-standing Nacha priorities to enhance efficiency, security and inclusion in the payments system."

Industry

Bank Groups Call for Swift, Secure Transition As Treasury Phases Out Paper Checks

Bank Policy Institute

"The Bank Policy Institute, The Clearing House Association and the Consumer Bankers Association submitted joint comments to the U.S. Department of the Treasury late yesterday urging prompt action to fully transition to secure, modern electronic payment methods and minimize the use of checks. The letter — submitted in response to a Treasury request for information relating to the Executive Order on Modernizing Payments — emphasized the importance of eliminating paper checks from government disbursements to reduce risk and ensure all recipients benefit from faster, more reliable payment delivery."

Industry

Visa and Mastercard's $253B Nightmare: The Crypto Threat That's Skipping the Swipe

Yahoo Finance

"A major turf war is heating up in the payments worldand Visa and Mastercard suddenly find themselves on defense. Stablecoins like USDC are gaining traction, with companies like Shopify, Coinbase, and Stripe quietly rerouting payments around traditional card networks."

Industry

Ending the Paper Check Era: Early Warning Offers Ready-to-Deploy Solution to U.S. Department of the Treasury

Zelle Newsroom

"Early Warning Services, LLC. submitted a comment letter today responding to the U.S. Department of the Treasury’s Request for Information regarding the transition to electronic payments for all federal disbursements and receipts. Early Warning is the company behind Zelle, the peer-to-peer payment network. In 2024, American consumers and small businesses used Zelle to send over $1 trillion."

Industry

The Rise of Embedded and Invisible Payments

Federal Reserve Bank of Atlanta

"The other day, I pre-ordered my coffee in an app, stopped into my local shop, and walked out with my drink. No wallet, no personal identification number, no paper receipt—just a quick, unremarkable moment. It made me realize how much payments have faded into the background of daily life. What used to be a clear step in the transaction process is now often barely noticeable."

Industry

FedNow Service Launches New Risk Mitigation Features and $1 Million Transaction Limit

FedNow News Center

"A new account activity threshold feature is now available for the FedNow Service, allowing financial institutions to strengthen risk mitigation efforts by defining dollar value and transaction velocity thresholds based on customer segments. The new functionality coincides with a transaction limit increase from $500,000 to $1 million to support higher-value use cases, including business-related transactions."

Industry

Buy Now, Pay Later Loans Will Factor in to Americans' Credit Scores

CNN

"FICO plans to launch a suite of credit scores later this year that incorporate BNPL data, providing lenders a window into what’s been a big blind spot: consumers’ repayment behavior on these increasingly popular installment loans."

Tags: BNPL

Industry

Elon Musk’s X to Offer Investment and Trading in "Super App" Push

MSN

"X chief executive Linda Yaccarino has said that users will 'soon' be able to make investments or trades on the social media platform, as she outlined a push into financial services in owner Elon Musk’s quest to build an 'everything app'."

Industry

Circle and Fiserv Announce Strategic Collaboration to Power Stablecoin Payments Across Financial Ecosystems

Business Wire

"This collaboration will bring together Circle’s comprehensive stablecoin platform, including its regulated USDC infrastructure and Circle Payments Network, with Fiserv’s digital banking and payment capabilities. The initiative aims to equip banks and fintechs leveraging Fiserv’s digital asset platform and branded stablecoin with seamless access to digital dollar infrastructure, enabling enhanced payment experiences, real-time settlement, and expanded global reach."

Industry

Fiserv and PayPal Expand Partnership to Advance Stablecoin Payments

Fiserv

"Fiserv and PayPal today announced that they are partnering to build future interoperability between FIUSD and PayPal USD (PYUSD), to allow consumers and businesses to move funds domestically and internationally. Combining the global reach of Fiserv and PayPal across banking, consumer, and merchant payments, interoperability will allow both firms to further expand the use of stablecoins and programmable payments around the globe."

Industry

United States: Plan For Remittance Tax Sparks Global Concerns

Global Finance Magazine

"A proposed 3.5% remittance tax on money sent from the US to noncitizens abroad has sent shockwaves through countries that rely on international transfers."

Industry

Disney Plans Virtual ‘Concession Stand,’ ‘Storefronts’ for Disney+, Hulu, ESPN Streamers

Variety

"Choosing a Marvel, Star Wars or FX program when surfing Hulu or Disney+? Pretty easy. Adding shopping into the mix? Not always so. Disney hopes to meld streaming and selecting by adding new virtual “storefronts” to its popular broadband venues that will allow viewers to order snacks or pick out products they’ve seen in their favorite shows, all while continuing to keep their binge on."

Industry

Senate Passes Cryptocurrency Bill, Handing Industry a Victory

The New York Times

"The Senate on Tuesday passed legislation to establish a regulatory framework for stablecoins, putting the cryptocurrency industry, which had long been viewed with suspicion by lawmakers in Washington, on the brink of a major policy breakthrough. Bipartisan approval of the bill, known as the GENIUS Act, followed an aggressive lobbying campaign aimed at transforming the cryptocurrency industry’s image from scandal-plagued experiment to legitimate financial sector. [Subscription Required]"

Industry

Real-Time Payments Are Testing the Limits of Compliance

The CFO

"Rocio Suarez, Director of Financial Crime Compliance at LexisNexis Risk Solutions, advises financial institutions across Europe on how to stay aligned with anti-money laundering rules, counter-terrorist financing policies, and customer due diligence standards. Speaking with The CFO at the sidelines Money20/20 Europe in Amsterdam, Suarez was clear on one thing. The acceleration of payments infrastructure, particularly in Europe, is placing compliance teams under strain."

Industry

NFC Release 15: The What, Why and How

NFC-Forum

"The latest version of NFC Forum specifications – NFC Release 15 – extends the operating volume of NFC Forum-compliant devices to 2 cm. We spoke with Preeti Ohri Khemani, NFC Forum Chair, on what this means, why it matters and how it will impact the industry."

Industry

A Retail CBDC Design for Basic Payments: Feasibility Study

Bank of Canada

"We frame the wide spectrum of possible system architectures for an online retail central bank digital currency (CBDC) and identify a promising architecture well-suited for basic payments. We select OpenCBDC 2PC, a representative system design that fits this architecture and analyze it using a range of criteria to assess the feasibility of such system designs."

Industry

Alipay Enables In-Store Payment Functionality Across China for AR Glasses in Partnership With Rokid

Retail Technology Innovation Hub

"Rokid, a specialist in augmented reality, has launched Rokid Glasses, its latest AR device. In China, the product supports in-store payments facilitated by Alipay’s digital technology and multidimensional risk control solution for AR glasses. This will begin rolling out to users starting in June, with over 250,000 units thus far ordered. Users link their Alipay account via the Rokid app and enable voice verification. In stores, they say: “Rokid, pay 10 RMB."

Industry

eTip Collaborates with Visa to Deliver Rapid, Secure Digital Tip and Wage Payments to Digital Wallets

PR Newswire

"eTip, the award-winning benefits platform specializing in digital tipping for hospitality and service industries, today announced a new collaboration with Visa to help deliver funds directly to participating digital wallets in real-time. Now, service industry professionals—from hotel staff to restaurant workers—can quickly send funds to their participating financial apps such as Venmo and PayPal without waiting multiple business days to access their earnings."

Industry

VGS, The World’s Leader in Payment Tokenization, Celebrates A Decade of Payments Innovation and 5 Billion Tokens Stored

Business Wire

VGS, the world's leader in payment tokenization and a trusted credential management platform for global businesses, celebrates the 10-year anniversary of its founding. In addition to celebrating 10 years of payment innovation, VGS has proudly reached another significant milestone: surpassing 5 billion tokens stored.

Industry

Investors Are Missing Major Red Flags Amid a Fintech Frenzy

Raconteur

"A flurry of failed fintech deals raises important questions over the number of acquisitions investors are making without the right due diligence"

Industry

Carvana Launches Real-Time Down Payment Capabilities

Auto Finance News

"Carvana has implemented request for payments technology and instant payments capabilities for down payments on vehicle purchases, allowing consumers to obtain their vehicle faster.  The online used-car dealership has integrated financial services provider Plaid’s RFP technology, which leverages The Clearing House’s real-time payment (RTP) network to streamline the consumer-to-business payment process."

Industry

The ROI of Online Patient Payments is Significant

Healthcare IT Today

"For many healthcare providers, outdated payment systems are causing unnecessary frustration for patients and staff and costing providers. Leading organizations, like First Choice Neurology, are proving there’s a smarter way. Digital payments speed up revenue collection. Switching to text and online payments cut FCN’s days in AR from 27 to 24—an immediate boost to cash flow and operational efficiency. Modern payment tools drive real cost savings. Transitioning from mailed statements to digital payments saved $8K–$10K per month, with lower transaction costs and fewer print/mail expenses."

Industry

AI Agents May Be Vulnerable to Financial Attacks

Tech Brew

"AI agents might be taking on more responsibilities at work, but maybe think twice before handing over full access to payments. A new paper from researchers at Princeton University and the Sentient Foundation found that certain agents—AI systems that can act beyond the realm of a chatbot—could be vulnerable to memory attacks that trick them into handing over cryptocurrency."

Industry

Subscription Shake-Up: Navigating the FTC’s Click-to-Cancel Rule

Nat Law Review

"In October 2024, the Federal Trade Commission updated its 1973 Negative Option Rule to address unfair and deceptive online subscription practices. The Rule sparked significant debate, with the original proposal garnering over 16,000 comments. Following some revisions based on this feedback, the Rule went into effect in January 2025. Originally slated for enforcement on May 14, the FTC announced on May 9 that enforcement would be deferred by 60 days, giving businesses until July 14, 2025 to review and comply."

Industry

NeverPay Launches “Buy Now, Pay Never” Crypto Payment System Using Staking Yields

GlobeNewswire News Room

"NeverPay announces the launch of its crypto-based payment system designed to let users make purchases without selling their digital assets or entering into debt. The platform introduces a concept called “Buy Now, Pay Never,” allowing users to leverage the yield generated by their staked crypto to fund real-world purchases."

Industry

US Airlines Oppose Credit Card Fee Crackdown They Say Could Imperil Free Flight Offers

Reuters

"Airlines fear fee bill could end rewards credit cards. Durbin claims bill saves $15 billion in fees annually. Airlines rely on loyalty programs for significant revenue. Airlines warn fee bill may harm tourism and air travel."