Payments processors are keeping a portion of payments as a reserve against potential disputes between cardholders and merchants. Small-business owners say the practice is eating into their profits.
A federal judge sanctioned the Consumer Financial Protection Bureau on Friday by dismissing a massive lawsuit against several payment processors, saying the agency demonstrated a "willful disregard" for court rules.
The move is noteworthy because Delatinne had led customer engagement for Swift’s global payments innovation initiative, with which Ripple’s cross-border payment system competes.