Payments

As the Consumer Financial Protection Bureau increases scrutiny of earned wage access, cash-back fees and airline rewards, industry lobbyists are pushing back, while some groups cheer the move.

Crooks can use deepfakes and other machine learning tools to circumvent traditional authentication security methods. Payment experts discuss how firms can protect themselves.

The payment company is enabling consumers to stack multiple cash-back offers as a way to lure consumers to its alternative digital wallet.

Since launching in summer 2023, the government-backed instant settlement network has attracted hundreds of financial institutions, but there is still room for growth.

New Mountain Capital is combining three companies in its portfolio: the Rawlings Group, the payment-integrity business of Apixio, and a recently acquired firm called Varis. The new entity would use AI to track health plans' payments to doctors and hospitals.

Diane Offereins retired from a top job last year amid scrutiny of the card network's charges to merchants. Now she's suing Discover over its decision to cancel unvested stock worth $7 million.

The card brands and tech giants are expanding their payments reach in one of the world's largest markets, while facing a multi-billion-dollar class action complaint by British businesses over fees. That and more in American Banker's weekly global roundup.

The trucking and transportation industry is highly fragmented with hundreds of thousands of participants and different processing systems. The $1 trillion in revenue has drawn processors and card companies armed with new tech.

In August's roundup of top tech news: Banks and retailers wrestle with the unseen consequences of artificial intelligence, Mastercard lays off roughly 3% of its workforce and more.

The payments platform is preparing for expansion to a market that has a fast-growing real-time transaction rail, making the country a hot spot for international investment.