Fintech

WASHINGTON — Just hours before the Senate votes on the biggest post-Dodd-Frank bill for the industry, no one in Washington knows what the outcome will be.

WASHINGTON – The credit union and banking lobbies were pulling out all the stops last night to round up a few more votes for their bid to delay cuts in debit fees, but the effort was still a handful of votes short.

Bling Nation, the mobile payments and loyalty company, has shut down its service in a move it insists is only temporary.

NEW ORLEANS — Banks intent on bringing mobile payments to a wide swath of customers will soon have to make difficult decisions about devices, partnerships, vendor management and employee training.

WASHINGTON–Banks appeared to be gaining the upper hand in their battle against retailers to delay pending interchange fee caps, but the fight was far from over.

All merchant acquirers and card issuers in India would have to establish adequate risk-management systems and processes to help prevent card fraud within the next 12 months under proposals outlined in a central bank working group report released June 2.

Heartland Payment Systems Inc. is attempting to capture some coin in what it views as one of the final frontiers of micropayments–commercial laundry machines.

WASHINGTON — A sponsor of legislation to ease the impact of interchange rules on banks announced another revision Tuesday as lawmakers prepare for a vote later this week.

WASHINGTON – Waiving a debit card issued by Congressional FCU, where he is a long-time member, Illinois Senator Richard Durbin urged Senate colleagues this afternoon to wait to see the details of the Federal Reserve’s final rule on debit fees before they vote to amend the rule.

WASHINGTON – A chief sponsor of the bid to delay debit fee cuts conceded this afternoon his proposal doesn’t have enough votes to pass and he moved instead to change the debit fee proposal to allow the Federal Reserve to consider additional costs, like fraud losses, in its final rule.