News Topic: debit cards
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Even DOJ, FTC recognize debit card payment processing is broken
Sequoia-backed financial-aid startup Mos debuts debit card
Small banks, credit unions push back against Fed debit-routing proposal
PayPal faces SEC probe of fees paid to banks behind debit cards
Kentucky bank adds True Name for transgender, nonbinary customers
Big banks on defense after Fed sides with retailers on debit swipe fees
Federal Reserve solicits comments on debit routing update
Western Union to test debit, credit card offerings in bank push
North Dakota retailers sue Fed, demand lower debit fees
Stimulus funds, recovery drove Discover's 1Q earnings
Debit's on a roll. Are small merchants getting rocked?
The Justice Department's probe of Visa highlights whether merchants are properly equipped to adapt to the cost of debit spending as more commerce goes digital. ]] ... Read full article
Merchants respond to DOJ probe of Visa debit card practices
The Justice Department has already successfully intervened to break up Visa's deal to buy Plaid. Merchants welcome reports that it is looking at Visa's routing practices. ]] ... Read full article
Affirm debit card brings installment payments to all merchants
The buy now/pay later pioneer's new card does not require sellers to opt in if they already accept debit cards. ... Read full article
Clair teams with Mastercard to expand earned wage access
Mastercard and MetaBank are helping the earned wage access provider Clair overhaul its technology platform and service offering. ... Read full article
Big banks, Big Tech face off over swipe fees
A showdown between megabanks such as JPMorgan Chase and the likes of Apple and PayPal could be the prelude to a broader fight. ... Read full article
Upgrade launches mobile banking and debit card with 2% cash back
The online lender founded by Renaud Laplanche is now a full-fledged challenger bank that can offer generous checking terms because, it says, it can count on its loans for profits. ... Read full article
COVID-era credit card spending hits new high
In a potentially good sign for credit unions, last week credit card spending reached its highest point since the start of the coronavirus pandemic, according to data from PSCU. ... Read full article
E-commerce surge rekindles debit fee fight between merchants and industry
The Federal Reserve is facing pressure to allow retailers to route PIN-less debit-card purchases over their choice of networks. It’s a new stage in an old battle, fueled by the shift toward online shopping during the pandemic. ... Read full article
Credit unions buckle up for an unpredictable holiday season
The pandemic has altered a variety of consumer behaviors, and that could make a difference in what sort of interchange and interest revenue financial institutions see in their credit and debit portfolios as they close out 2020. ... Read full article