Payments

Giving merchants the option of passing on the rewards-related element of credit card swipe fees to consumers would radically rewrite the rules of payments competition.

A Federal Reserve rule that kicked in during July altering how debit cards are routed online hasn't yet hurt Visa's U.S. transaction volume, which surged across consumer, commercial and cross-border channels during the quarter that ended Sept. 30.

The bipartisan proposal aims to save consumers money by forcing more competition in the lucrative credit card payments processing business. If enacted, it would result in "unbelievable" consumer backlash from its effect on rewards programs, Delta Chief Executive Officer Ed Bastian said.

The card network integrated its data-sharing technology into products from Zip, FIS and JPMorgan Chase as potential regulations loom on the horizon.

Three months after the instant payment network went live, users and former Fed staffers say the rollout is going as expected. But the key to wider use depends on banks and their customers figuring out what to do with it.

Brazil's PIX network has sparked a venture-capital boom in an otherwise down economy, including interest from U.S. investors.

Months after acquiring credit card program management startup Power, Marqeta has introduced a service to embed credit offers within brand marketers' websites and applications.

Retailers fed up with interchange are trying numerous strategies to offset these costs, including piloting Pay by Bank use cases and even, in some cases, refusing to accept cards altogether.

Steve Squeri says the outcry over the airline's changes to its loyalty program has not hurt spending on co-branded Amex cards.

Consumers with Discover cards spent less on travel and everyday purchases, but more on entertainment, driving loan growth in the third quarter. The company also benefited from the Fed's enforcement of online debit-routing rules, but these boons couldn't offset investor concerns over its issues with the FDIC and its CEO search.