News Topic: Payment cards

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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

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

The payments company reported a substantial increase in both credit and debit card usage for the annual shopping event as the pandemic has made consumers even more comfortable with online purchases. ... Read full article

The $3.1 billion-asset institution's product will not carry any fees and offers a variable APR. ... Read full article

The bill, which now goes to the Senate, would give small businesses greater flexibility in how they use the funds; not everyone's on board with Otting's signature achievement. ... Read full article

Consumer groups are poised to take the bureau to court over its gutting of underwriting requirements, while House Democratic leaders could attempt a repeal through the Congressional Review Act. ... Read full article

The bank raised its return-on-equity goals, based mostly on cost cuts and its core trading business; the Fed did raise the rate it pays on bank reserves. ... Read full article

The challenger bank might use the proceeds from its latest funding round to buy other fintechs that would allow it to add more products and services, its CEO said. ... Read full article

Former T. Rowe Price portfolio manager Henry Ellenbogen is making Rapyd his first bet. ... Read full article

The tech company’s card seems to be raising consumers’ expectations that they should be able to get and use a card instantly and receive useful notifications. ... Read full article

Researchers found that stolen payment data has been used to finance terrorism, human trafficking and other organized crime. Their conclusion that card fraud needs to be taken more seriously by banks and card networks drew pushback from the financial ... Read full article

The Apple Card takes a more aggressively digital approach to credit card relationships than most other products on the market — but the technology behind it isn’t exclusive to Apple. ... Read full article

The startup now has five bank partners and equity financing from four investment entities. ... Read full article

The rewards card offered by the fintech Stash will let users accumulate stock of companies at which they frequently shop. The company said Tuesday that it has raised $65 million from investors and will offer the card in partnership with Green Dot. ... Read full article

Banks and Apple Pay have not always had easy partnerships, but a hot market for co-branded cards gives Goldman Sachs a chance to advance its consumer ambitions and Apple an opportunity to offset slumps in device sales. ... Read full article