The card manufacturer ABnote is working with SimplyTapp, a Near Field Communication technology provider, to support Host Card Emulation tech in a jointly developed product.
Host Card Emulation, or HCE, allows phones to
"Consistent with the speed of adoption of HCE by Android, then Visa and MasterCard, we are extremely excited to offer the commercial capability only a few months after beginning this [ABNote] collaboration," says Doug Yeager, CEO of SimplyTapp, in a May 13 press release.
The bureau's Tuesday afternoon announcement follows an earlier statement that it would walk back a rule that places buy now/pay later loans under the Truth in Lending Act's Regulation Z, a move that will ease compliance for fintechs that offer installment loans.
Eliminating overdraft charges is Stearns Bank's latest move to limit fees that its customers pay. CEO Kelly Skalicky says deposit service fees aren't a good business model.
House Financial Services Committee ranking member Maxine Waters, D-Calif., blocked a planned joint hearing on a crypto market structure bill amid concerns about the Trump family's conflicts of interest in cryptocurrency.
The bank partnered with fraud prevention company Threat Fabric to create a taxonomy the companies hope will make it easier to communicate about fraud.
The pending acquisition is one of several large deals involving payment companies in recent years as legacy firms look for combinations that can counter newer fintech rivals.
Treasury Secretary Scott Bessent said he expects negotiations with trading partners over tariffs to conclude by the end of the year but acknowledged that talks with China had not yet begun.
