Merchant

More than three dozen organizations are asking the FDIC to reject Square’s pending application to become an industrial loan company, according to a letter filed Tuesday.

Furniture retailers typically split payment for big-ticket items with a deposit and the balance due upon delivery, but the process is usually fraught with paperwork, security and efficiency gaps.

In the tug-of-war over merchants refusing either cash or cards embroiling local governments in New Jersey, New York City and Philadelphia, the Iowa State Fair is taking the middle ground. Beginning next year, all fair vendors will be required to accept cash, cards and contactless payments through First Data’s Clover devices.

Visa and Mastercard plan to raise interchange while battles over those rates and other levies such as merchant surcharging rage on, setting the stage for extra merchant expense, consumer costs and even more squabbling.

Unauthorized exposure of any type of customer data, for any period of time, is a serious issue, writes Carl Wright, chief commercial officer of AttackIQ.

The Small Business Administration should consider partnering with fintechs, which have the capacity to approve loans quickly, to help avoid the kind of application backlog the agency faced after the last government shutdown.

The Credit Union National Association and several institutions sued the fast food business after a data breach in 2016.

The time regulators take to decide on prospective deals has dropped sharply; a report says the cyberthieves were looking for info to help recruit spies.

Battle lines are hardening in the fight against stores that eschew cash, as New York City’s Committee on Consumer Affairs plans to hear arguments Thursday on a proposal to ban cashless stores like Amazon Go.

Walgreens is expanding its payment options to include Alipay, Ant Financial’s mobile wallet, at most of its U.S. stores.