Payments

A $30 billion settlement between Visa Inc., Mastercard Inc. and retailers to cap credit-card swipe fees is likely to be rejected by a federal judge in Brooklyn, a setback in the two decade-long litigation.

Longtime payments chief Takis Georgakopoulos is leaving the bank. New co-heads Umar Farooq and Max Neurkirchen are inheriting a powerhouse, but they face lots of challenges.

An iOS 18 update will enable a Tap to Pay-like system for peer-to-peer payments. Meanwhile, will BNPL rules be different in Australia than in the U.S.?

Illinois' recent move to prohibit the inclusion of taxes and tips in credit card interchange fees suggests that electronic transactions are too expensive and also that there are too many entities working unilaterally to reduce those costs.

PayPal has brought on expert pitchmen from Uber and Plaid to build an advertising platform for merchants. Its rivals are on a similar path.

An interchange provision included in Illinois' budget bill could force banks and payment processors nationwide to revamp their payments infrastructure, lobbying groups for the industry say.

Digital assets have never caught on for mainstream payments, but the card network isn't giving up hope. Its latest effort aims to reduce complexity by learning from the successes of digital wallets.

In the U.S., the COVID-19 pandemic and other factors caused a sharp reduction in cash use. But with paper bills still accounting for nearly a fifth of all payments, the option is still far too entrenched to risk extinction.

By making it easier to enroll and access financial services such as buy now/pay later lending, the search giant hopes to enhance connections with users.