Debit cards

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.

Fake fundraising or phony customer service tricks people into handing over money or account details, Yinglian Xie of Datavisor writes.

U.K. and EU regulations enable cards that provide digital-first features for funds kept in a different bank's account.

A Federal Reserve proposal that would require banks to give merchants more choices in routing certain debit transactions could be a prelude to a more consequential change: a lower cap on interchange fees for banks with more than $10 billion of assets.

Despite strong payment volume and revenue, Affirm's earnings suffered due to stock compensation and an adjustment on its purchase of PayBright in January.

The central bank wants to adopt new rules to state clearly that merchants must have a choice of debit networks for card-not-present transactions.

Western Union, the world’s largest money-transfer provider, will soon test banking products for its customers.

Shopkeepers and other establishments say banks' costs have fallen substantially in recent years but interchange prices have held steady since the Federal Reserve capped them in 2010.

Shop owners and other establishments say banks' costs have fallen substantially in recent years but interchange prices have held steady since the Federal Reserve capped them in 2010.

Changing payment habits and two rounds of stimulus funds helped drive Discover Financial Services' profitability in the quarter.

While U.S. regulators pressure Visa and Mastercard, there's ample choice, particularly when compared to the national debit rails that exist in most of the world, says Intrepid Ventures' Eric Grover.

The Justice Department's probe of Visa highlights whether merchants are properly equipped to adapt to the cost of debit spending as more commerce goes digital.