Payments

The launch of Apple Pay a decade ago set the tone for how the tech giant would interact with banks and credit unions in the years to come. The Justice Department is now pushing back.

Criminals who buy and sell consumer data on the dark web are perpetrating increasingly complex credit and debit card fraud schemes, according to the card network's latest threats report.

The U.S. Justice Department and 16 attorneys general sued Apple Thursday, accusing the iPhone maker of violating antitrust laws by blocking rivals from accessing hardware and software for digital wallets and other features.

At an American Bankers Association event, Sen. Jon Tester, D-Mont., who's up for reelection this year, said that he hopes the Durbin-Marshall credit card bill won't go anywhere and criticized the Federal Reserve's debit interchange proposal.

The fast-food chain is analyzing the cause of an issue that affected payments in multiple countries. Separately, dLocal, a payments processor in Uraguay, is making changes at the top.

Thomas Halpin, who heads global cash management for North America, talks about real-time processing, generative AI, central bank digital currencies and why the ISO 20022 messaging standard is cool.

Credit card late fees are annoying, but that's why they work as a disincentive to prevent late payments. By making them much smaller, the CFPB will actually be working against the interests of low-income consumers.

Ant Group, the company behind Alipay, plans to set up independent boards for its international, database and digital technologies operations as it pushes forward the overhaul of its fintech business, according to a memo seen by Bloomberg.

The payments industry is evolving, driven by innovative technologies and a new class of leaders and executives eager to embrace change. Here's what they're prioritizing.

Despite fresh waves of online fraud and scams, czars of social media platforms, peer-to-peer networks and blockchain products have renewed ambitions to marry financial services with social apps.

Samsung and Curve are setting the groundwork for a return of smart rings and other devices that can turn top-of-wallet cards into a fashion accessory.

The pandemic reduced the number of daily mass-transit commuters, but the accompanying surge of contactless payments is expanding and diversifying transit systems' demographic reach, according to data from the card network.

The U.K. is considering a bill that would let banks and payment service providers put suspicious-looking peer-to-peer payments on hold for up to four days to conduct security reviews; Giesecke+Devrient is working with Brazil's central bank to develop an offline payment approach to a central bank digital currency; and more in global payments news this week.

Powered by its data-aggregation arm Finicity, Mastercard is piloting a service giving consumers an analytical view of all the subscriptions they routinely pay via credit, debit or ACH with options to cancel, pause or resume them.

TD Bank is among the latest to support Tap to Pay, which allows clients to accept contactless payments on their personal smartphones. Through its investment in Autobooks, it enables others to do the same.

PayPal expands Tap to Pay for iPhone payments; BNY Mellon's securities services leader exits; FleetCor rebrands as Corpay; and more in this week's banking news roundup.

In unrelated initiatives, the two companies are extending their use of open banking to create deeper client relationships.