Industry

Joint Trades Respond to CFPB’s Emerging Payments Interpretive Rule

Bank Policy Institute

“The Clearing House Association, the Bank Policy Institute, and the Consumer Bankers Association submitted a comment letter in response to the Notice of Proposed Interpretive Rule and request for comment regarding Electronic Fund Transfers Through Accounts Using Emerging Payment Mechanisms. The Emerging Payments Rule purports to apply Regulation E to new products, including virtual currencies, […]

Companies

TreviPay Launches Advanced Purchase Controls to Streamline B2B Purchasing and Enhance Compliance

Business Wire

“TreviPay announced the release of advanced purchase controls to allow businesses to configure and enforce customized B2B purchase policy structures that align with their procurement requirements. The new functionality, now available to TreviPay clients, addresses pain points in the B2B purchasing process by automating controls that reduce payment delays, minimize manual reconciliation work and enhance […]

Tags: TreviPay

Global

India’s Digital Payments Face Sustainability Test as Zero MDR Bites

IBS Intelligence

“Zero MDR (Merchant Discount Rate) Policy refers to the government’s directive that payment service providers cannot charge merchants any fee (MDR) on transactions made through certain digital payment methods, such as UPI and RuPay debit cards. While this policy encourages digital payment adoption among small businesses by making transactions free for them, it has raised concerns […]

Tags: India

Companies

TreviPay Launches Advanced Purchase Controls to Streamline B2B Purchasing and Enhance Compliance

TreviPay

“TreviPay announced the release of advanced purchase controls to allow businesses to configure and enforce customized B2B purchase policy structures that align with their procurement requirements. The new functionality addresses pain points in the B2B purchasing process by automating controls that reduce payment delays, minimize manual reconciliation work and enhance overall compliance.”

Tags: TreviPay

Regulation

OCC Withdraws Policy on Bank Engagement With Cryptocurrency

ABA Banking Journal

The Office of the Comptroller of the Currency published an interpretive letter rescinding the agency’s policy on bank engagement with cryptocurrency “to reaffirm that a range of cryptocurrency activities are permissible in the federal banking system,” according to an agency statement.

Tags: OCC

Companies

Privacy-Enhancing Technologies for Digital Payments: Mapping the Landscape

BIS

“The increasing use of digital payments, smartphones and data-driven technologies makes privacy a critical issue in the public policy discussion of digital money. The paper explores how technology can address these concerns, offering a comprehensive evaluation of privacy-enhancing technologies for large-scale payment systems.”

Global

El Salvador Plans Bitcoin Policy Changes to Secure $1.3b IMF Loan

Cointelegraph

“El Salvador, the first country in the world to accept Bitcoin as legal tender, is reportedly scaling back its BTC ambitions under pressure from the International Monetary Fund (IMF).”

Tags: El Salvador

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

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