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Breaking News articles for January 2023

ETA brings TRANSACT 23 to Atlanta

Tuesday, January 31, 2023

After years of hosting annual conferences in Las Vegas, the Electronic Transactions Association will bring Transact 23 to Atlanta. Themed "Business at the Speed of Payments," the event will be held April 24 to 26, 2023, at Georgia World Congress Center, stated Jodie Kelley, CEO of ETA.

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Are BNPL regulations coming?

Saturday, January 28, 2023

Is a hammer about to come down on the burgeoning market for buy now, pay later (BNPL)? The Consumer Financial Protection Bureau and the Federal Trade Commission both have let it be known that they have concerns about the business, but no new regulations appear imminent.

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Merchants fight fraud with AI, automation

Friday, January 27, 2023

Chargebacks remain a clear and present danger in the post-pandemic era, according to recent reports, and merchants are fighting back with automated and AI-powered technologies.

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Big banks planning new digital wallet

Thursday, January 26, 2023

A group of big banks reportedly has begun work on a new mobile wallet to compete with the likes of PayPal and Venmo. The Wall Street Journal reported that Bank of America, JPMorgan Chase, Wells Fargo and four other banks are developing a digital wallet that online shoppers can link with their debit and credit cards.

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ETA leaders set 2023 agenda, priorities

Tuesday, January 24, 2023

Guidance published Jan. 24, 2023, by the Electronic Transactions Association reflects the trade association's highly positive outlook for private and public sectors in the near-term future. The three comprehensive documents prioritize objectives for the trade association's continuing advocacy and collaboration with policymakers in the United States and Canada.

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EU to enforce cyber resilience

Friday, January 20, 2023

In light of recent disclosures of yet another T-Mobile cyberattack, security analysts are openly wondering if U.S. policymakers will borrow a page from the European Union Commission’s Cyber Resilience Act. Enacted Jan. 18, 2023, the measure aims to protect connected devices against pervasive cybersecurity attacks, the EU Commission stated.

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2022 holiday sales rose 5.3 percent

Thursday, January 19, 2023

Year-end holiday sales were not as robust as some had predicted, but overall growth was still a respectable 5.3 percent over 2021. In all, retail shoppers spent $936.3 billion between Nov. 1 and Dec. 31, 2022, the National Retail Federation reported.

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NRF 2023 notes resilience, shifting preferences

Wednesday, January 18, 2023

The National Retail Federation's annual conference and expo, NRF 2023: Retail's Big Show, drew 15,900 industry professionals and 6,100 retailers to New York City's Jacob Javits Convention Center for three days of keynotes, panels, live demos and networking.

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CFPB considers nonbank naughty list

Thursday, January 12, 2023

A broad swath of consumer financial services firms, including financial technology providers, could find themselves on a public registry if they run afoul of state and federal consumer protection statutes. This would be under a new plan proposed by the Consumer Financial Protection Bureau.

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Paysafe study finds retail optimism among US SMBs

Wednesday, January 11, 2023

Days away from the National Retail Federation's annual convention in New York City, more than half of U.S. small and midsize brick-and-mortar retailers are optimistic about the 2023 retail landscape, according to recent research conducted by Paysafe.

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Seattle schools tell social media, see you in court

Tuesday, January 10, 2023

Seattle School District No. 1 filed a complaint on Jan. 6, 2023, against social media giants, claiming their platforms are harmful to student health and public welfare. The plaintiff serves approximately 49,300 students at 106 schools, making it the largest kindergarten-through-12th grade school system in Washington State, stated legal counsel Keller Rohrback LLP. Court documents indicate legal representatives for the defense have yet to be named.

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FreedomPay to host live panel at NRF 2023

Friday, January 6, 2023

FreedomPay will explore the retail landscape with payments industry leaders on Jan. 16, 2023, during NRF 2023. The event, to be held 10:30 to 11:30 a.m., at Booth 4250 at New York's Jacob Javits Convention Center's exhibit hall, will also be live-streamed on YouTube, Twitter and LinkedIn, FreedomPay representatives stated.

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FTC slams Mastercard over debit routing

Thursday, January 5, 2023

The Federal Trade Commission is taking Mastercard to task over allegations that it blocks merchants from routing ecommerce debit card payments over competing networks.

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