Companies

Consumer Credit Cards Show Few Signs of Financial Stress

Kansas City Fed

“The Federal Reserve began tightening monetary policy in March 2022 to combat higher inflation. This tightening, in turn, increased borrowing costs for a wide range of consumer financial products such as auto loans, mortgages, and credit cards. Higher borrowing costs can dampen demand as households use more disposable income to service interest expenses, which, in […]

Tags: Federal Reserve

Reports

Central Bank Digital Currency: Progress And Further Considerations

International Monetary Fund

“The paper briefs the Executive Board on the further considerations on CBDC. These cover the positioning of CBDC in the payments landscape, cyber resilience of the CBDC ecosystem, CBDC adoption, CBDC data use and privacy protection, implications for monetary policy operations, and cross-border payments with retail CBDC.”

Companies

Regulators Should Take the Reins on Fintech Oversight

The Clearing House

“The Bank Policy Institute and The Clearing House Association commented on partnerships between banks and fintechs in a letter to the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the Federal Reserve.”

Tags: The Bank Policy Institute The Clearing House (TCH)

Companies

Tickpick and Klarna Bring Flexible Payments to Live Event Tickets

Cision

“Klarna and TickPick, the transparent ticket marketplace transforming the event ticketing industry, announced their partnership to enhance the ticket buying experience for all TickPick customers. TickPick, known for its no service fee policy, best price guarantee, and upfront pricing, ensures that fans can purchase tickets without hidden costs.”

Tags: Klarna

Companies

Visa and USAID are Working Together to Drive Inclusive Digital Government Ecosystems and Payment Digitization

Visa

“Visa announced it is working jointly with the United States Agency for International Development (USAID) to improve access to open, secure, and inclusive digital government systems across the world. Following the recent launch of USAID’s Digital Policy, Visa and USAID will work together for five years to focus on developing programs to assist governments in […]

Tags: Visa

Industry

BPI and TCH Seek to Intervene in Corner Post Case Challenging Debit Interchange Limits

The Clearing House

“The Bank Policy Institute and The Clearing House Association filed a motion to intervene in Corner Post, Inc. v. Board of Governors of the Federal Reserve System. Corner Post, a North Dakota truck stop, is challenging the Federal Reserve’s 2011 rules governing debit interchange revenue established pursuant to the “Durbin Amendment” in the Dodd-Frank Act.”

Global

Reserve Bank of Australia: Payments System Board Annual Report – 2024

Reserve Bank of Australia

“The RBA undertakes regulatory and policy work on retail payment systems. Over the past year, the RBA focused on implementing policy actions aimed at enhancing competition and efficiency in the debit card market. The RBA also assisted Treasury and other regulatory bodies on reforms to the regulatory framework for payments.”

Tags: Australia

B2B Payments

Episode 248 - The Ins and Outs of Payouts with Manish Vrishaketu, Tipalti

Manish Vrishaketu, Chief Customer and Operations Officer at Tipalti, joins us for this episode to dive into why payouts have been overlooked for so long, what makes them challenging to master, and what is happening that may make things better and easier for a “niche” specialization in our industry that happens to be incredibly important for every company on the planet.

Global

PS24/6 Supporting the Identification of APP Scams and Civil Disputes [UK]

Payment Systems Regulator

“In 2023, we published policy statements PS23/3 Fighting authorised push payment fraud: a new reimbursement requirement and PS23/4 Fighting authorised push payment scams: final decision. These policy statements set the detailed parameters for the Faster Payments Scheme (FPS) authorised push payment (APP) scams reimbursement requirement. We also published three legal instruments which give effect to […]

Tags: UK

B2B Payments Fintech

Episode 247 - From the Vault: Multiplayer Fintech Builds a Winning B2B Service – Robin Gandhi, TripActions (Episode 146)

It’s September 2024, and this month, we’re focusing on business-to-business payments. B2B payments are difficult because so much information must be exchanged for them to process efficiently. But there’s more to it than that. For this episode, we pulled a favorite from our vault - number 146, a discussion between George Peabody and Robin Gandhi. Since this aired in March of 2021, Robin has moved to a post as Chief Product Officer at Nium, and TripActions has rebranded to Navan. But the underlying ideas discussed regarding B2B are still important - and this idea of multi-player fintech and what it means for B2B payments is quite relevant.

Industry

BPI and TCH Respond to Financial Stability Board’s Cross-Border Payments Consultation Report

Bank Policy Institute

“The Clearing House Association and the Bank Policy Institute submitted a comment letter to the Financial Stability Board in response to the Recommendations for Regulating Supervising Bank and Non-bank Payment Service Providers Offering Cross-border Payment Services Consultation Report.”

Artificial Intelligence Authentication Identity Payments Fraud Risk

Episode 245 - Shining a Light on the Dark Web with Dr. David Maimon, SentiLink

In this episode, Dr. David Maimon, Head of Fraud Insights at SentiLink, joins Glenbrook to share his insights on the dark web and talk fraud trends and the psychology of fraud and those who perpetrate it.

Industry

New Survey From Loop Shows Fraud and Policy Abuse are Outpacing Operational Costs and Supply Chain Issues as Major Concerns for Retailers

Business Wire

“Loop announced the launch of its latest returns industry data report. The results from the survey provide insights into how retailers feel about the escalation of returns fraud and policy abuse, as well as the preventive measures they’ve already taken or would be willing to take moving forward to combat the issue.”

Companies

CBA, Bank Policy Institute Call on CFPB to Rescind Buy-Now-Pay-Later Rule

Financial Regulation News

“The Consumer Bankers Association and Bank Policy Institute are calling on the Consumer Financial Protection Bureau to rescind a rule that would regulate buy-now-pay-later providers. While the CBA and Bank Policy Institute support much of the substance of the rule, they argue that the rule has procedural shortcomings and violates the Administrative Procedure Act.”

Tags: Bank Policy Institute Consumer Bankers Association

Global

Payment Systems Regulator Policy Statement on Mandatory Reimbursement

TLT Solicitors

“The Payment Systems Regulator published its policy statement The Faster Payments APP scams reimbursement requirement: compliance and monitoring July 2024 in response to the Consultation paper – The FPS APP scams reimbursement requirement: compliance and monitoring.”

Tags: UK