Debit cards

The Federal Reserve, which currently faces a Supreme Court case related to the fees, will vote on a proposal next week that will likely open up a rulemaking process to lower debit card interchange fees. 

Affirm is the latest BNPL lender to launch an in-store payment card with multiple financing options, giving consumers more checkout options as regulatory changes loom.

The Consumer Financial Protection Bureau is warning that excessive fees can chip away at the cash sent to the most vulnerable consumers who opt to receive Social Security and other public benefits via prepaid cards.

The U.K.’s Payment Systems Regulator will focus a pair of market reviews on the rising card fees charged by Visa and Mastercard. 

Merchants and banks have taken predictably opposing positions on a Federal Reserve proposal to increase competition among networks that route online debit transactions. But amid the hundreds of comments, it's those from supposedly neutral parties — the Department of Justice and the Federal Trade Commission — that stand out.

Mos, a student financial-aid startup backed by investors including Sequoia Capital and the rap star Jay-Z, is venturing into banking.

The central bank wants financial institutions to enable additional routing options for online purchases, a change industry advocates say would strain the resources of smaller card issuers.

The agency is investigating whether the swipe fees paid to the banks that issue PayPal’s debit cards are consistent with Federal Reserve guidelines, PayPal said in a quarterly regulatory filing.

Republic Bank in Louisville is the first community bank to launch Mastercard's True Name service, which allows customers to display their chosen name on debit cards.

John Adams, Executive Editor at PaymentsSource, talks to Debbie Gamble, chief officer of Innovation Labs and New Ventures at Interac, about Canada's growing digital needs.