Payment cards

A handful of snafus, some a decade old, shouldn’t tar an entire line of payment products that are a lifeline for many consumers and have helped millions of Americans access and manage their finances during the COVID-19 pandemic.

The Federal Reserve's decision to reexamine the Durbin amendment's Regulation II raises a host of concerns for banks and credit unions over the processing of purchases made online.

A growing number of companies like Klarna, Sezzle and Circle let consumers split large purchases into smaller transactions paid over time. But they say they need to offer more than one product to set themselves apart and build customer loyalty.

Banks may need to be more selective about how they issue plastic, so that cards remain available to those customers who need them most.

I2c and Unifimoney change incentives to fit market conditions, rather than focusing primarily on boosting consumer spending.

In a potentially good sign for credit unions, last week credit card spending reached its highest point since the start of the coronavirus pandemic, according to data from PSCU.

Finland’s OP Financial has announced that it will be launching a biometric payment card pilot in the Nordic countries in the second half of 2021.

The Federal Reserve is facing pressure to allow retailers to route PIN-less debit-card purchases over their choice of networks. It’s a new stage in an old battle, fueled by the shift toward online shopping during the pandemic.

Cross-border payments provider dLocal has expanded its network services in Africa and developed new partnerships in Nigeria and Egypt.

The payments company reported a substantial increase in both credit and debit card usage for the annual shopping event as the pandemic has made consumers even more comfortable with online purchases.