Industry

OCC, Former Comptrollers Urge Court to Overturn Illinois Interchange Ruling

ABA Banking Journal

“An Illinois state law restricting interchange fees for certain payments threatens the national banking system by interfering with federal powers to regulate that system, the Office of the Comptroller of the Currency and a group of 10 former comptrollers said in separate court filings last week. The Illinois Interchange Fee Prohibition Act, or IFPA, bans […]

Companies

PayPal Eyes 70-Country PYUSD Expansion With Rewards For Its Stablecoin, Despite CLARITY Act Limbo

CoinDesk

“The expansion comes as the CLARITY Act remains stalled in the Senate due to disagreement over stablecoin rewards.  As per the last proposal, PayPal would not be able to offer rewards on stablecoin holdings since it is not the issuer of PYUSD. Regulatory uncertainty could force PayPal to revise its rewards model or international strategy.”

Tags: PayPal

Companies

PPro Integrates Cash App Pay, Connecting Merchants With Millions of Gen Z and Millennial Consumers

PPRO

“PPRO announced that Cash App Pay is now available on its platform to merchants and PSPs operating in the U.S. This partnership enables businesses in PPRO’s network to offer a fast, mobile-first payment method that meets the expectations of digitally native American consumers and helps merchants connect with Cash App’s engaged customer base. Cash App […]

Tags: PPRO

Global

Mastercard, Visa Can Appeal UK Ruling That Merchant Fees Breach Antitrust Law

“Visa ⁠and ⁠Mastercard can challenge ⁠a judgment that found their ​default multilateral interchange fees charged to retailers ‌infringe competition law, London’s ‌Court of Appeal ruled ⁠on ⁠Tuesday, in a long-running legal battle over the ​charges. The Competition Appeal Tribunal ruled last year, in linked lawsuits brought by hundreds of ​merchants, that Visa and Mastercard’s multilateral […]

Tags: UK

Companies

Early Warning Services Expands Paze® Online Checkout to Citi

Early Warning

“Early Warning Services, the company behind Zelle, announced that Citi will offer Paze, the bank-offered online checkout solution, expanding access to millions of customers through one of the largest U.S. credit card issuers. Eligible Citi cardmembers will be able to activate Paze through Citi.com, the Citi Mobile® App or mywallet.paze.com. Customers can then look for […]

Tags: Early Warning

Companies

Mastercard to Acquire BVNK to Connect On-Chain Payments and Fiat Rails

Mastercard

“Mastercard announced a definitive agreement to acquire BVNK, a leader in stablecoin infrastructure, for up to $1.8 billion, including $300 million in contingent payments. The deal further expands Mastercard’s end-to-end support of digital assets and value movement across currencies, rails and regions.”

Tags: Mastercard

Companies

Paytm’s New In-App Calculator Makes Splitting Bills Super Easy

NewsBytes

“Paytm just rolled out an in-app calculator on its payment screen, making it super easy to split bills at grocery stores, pharmacies, or markets:No need to switch between apps. You can quickly add up amounts, see the total in both numbers and words, and confirm everything before entering your UPI PIN.”

Tags: Paytm

Companies

Thunes Brings Stablecoin Payouts to 11,500 Banks via Swift Connectivity, Bridging Traditional Finance and Digital Assets

Thunes

“Thunes unveiled a major breakthrough in cross-border payments by offering its Pay-to-Stablecoin-Wallets solution to banks globally through their existing Swift connectivity. This innovation enables the 11,500 institutions on the Swift network to send real-time payments to more than 500 million stablecoin wallets worldwide, with zero additional integration. Thunes acts as a bridge between the fiat […]

Tags: Thunes

Global

UPI Payments Can Be Made Simply by Shaking Your Phone, Hassle-Free

MSN

“Now, you can make UPI payments simply by shaking your phone. To do this, open your payment app and shake it. Shaking the phone will open the QR code scanner, allowing you to make payments in no time. With so many payment apps available these days, finding a QR code scanner can sometimes be difficult. […]

Tags: India

Companies

Capital One Redefines Its Role With Discover And Brex Platform Shift

Yahoo Finance

“For Capital One, the combination of Discover and Brex turns what used to be a credit card centric lender into a much broader payments and software platform. Discover brings a proprietary card network and a larger consumer footprint, while Brex adds corporate liability cards, expense management tools, and integrated business payment solutions. Taken together, that […]

Tags: Capital One

Companies

Garanti BBVA Unveils a Personalized Smart Wallet Packed With Rewards

BBVA

“Garanti BBVA has completely overhauled BonusFlaş. Android users can quickly switch between registered cards before paying. GarantiPay and 3D Secure online payments, credit card and bill payments, motor vehicle tax payments and card-to-card international transfers can all be carried out without a physical card. For customers with multiple cards, total limit, remaining limit and total […]

Tags: BBVA

Companies

Wells Fargo’s Trademark Filing Suggests Wider Crypto Plans

Banking Exchange

“Wells Fargo could be exploring a deeper push into digital assets after filing a sweeping trademark application that hints at ambitions across cryptocurrency trading, payments, and blockchain software. The bank also describes a suite of blockchain-related software tools, including downloadable applications for staking digital assets, accessing non-fungible tokens (NFTs), managing cryptocurrency wallets, and executing digital […]

Tags: Wells Fargo

United Airlines, Currensea and Mastercard Launch UK-First Loyalty Debit Card for Frequent Flyers

Breaking Travel News

“United Airlines, in partnership with Currensea, the market-leading payments technology platform for co-branded multi-bank debit cards, and Mastercard, today announced the launch of the United AirlinesSM Debit Card, the first ever rewards debit card offered to UK travellers by a U.S. airline. The United Airlines Debit Card can be linked to any existing UK bank […]

Companies

Sorting Through the Issues Surrounding Stablecoin

Atlanta Federal Reserve

“One way to demystify stablecoin is to think of this digital currency as the latest innovation in money, another step in the evolution to improve payments efficiency that began in Eurasia as early as 750 BCE. Considered from this perspective, it’s no surprise that discussions around stablecoin have reached the level it has now that the […]

Tags: Federal Reserve

Industry

Elizabeth Warren Blocks Permanent CBDC Ban in Senate Bill

Bidget

“The US Senate has approved a major housing bill that includes a temporary ban on a Federal Reserve central bank digital currency. The bill blocks the creation of a US digital dollar until Dec. 31, 2030. A section near the end of the bill places direct limits on the Federal Reserve, stating that the central […]