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Breaking News articles for August 2023

Card brands take heat over planned rate hikes

Thursday, August 31, 2023

Merchants are howling mad over upcoming interchange rate hikes, and they've enlisted the support of some powerful lawmakers to make their case.

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It's a DORA world, EU regulators say

Wednesday, August 30, 2023

The Digital Operational Resilience Act (DORA), which was introduced by the European Union on Dec. 22, 2022, to improve operational efficiencies in information and communications technology (ICT), has been formally adopted.

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New Jersey caps credit card surcharges

Friday, August 25, 2023

Businesses in New Jersey that seek to recoup card processing costs by surcharging customers' credit card payments cannot profit from those surcharges under a bill that was just signed into law. They also must place at points of entry and the POS "clear and conspicuous" signage explaining the surcharging policy.

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MPC23 embraces unified commerce theme

Thursday, August 24, 2023

Banking, tech and financial service providers were among several hundred attendees, speakers and exhibitors at MPC23, being held Aug. 23 to 25, 2023, at the Westin Atlanta Perimeter North. Formerly known as the Mobile Payments Conference, the annual conference and expo has evolved beyond the mobile POS ecosystem to a holistic event spanning the digital commerce value chain, stated Marla Ellerman, executive director of MPC: The Digital Commerce Event.

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Proven cross-border brands find tough love in USA

Wednesday, August 23, 2023

Payments analysts attribute multiple challenges to Adyen's plummeting share prices, initially reported by Reuters on Aug. 17, 2023, in a press release titled, "Payment company Adyen's shares plummet."

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Moody's: FedNow won't cannibalize debit card use

Monday, August 21, 2023

A new report from Moody's Investors Service explains why FedNow is no big threat to the card networks. True, FedNow will enable financial institutions to offer real-time payment products that will compete with legacy debit products. But the impact will be minimal, researchers found. "[T]he service's impact on the two big card networks is several years away and will largely depend on broad consumer adoption, which remains uncertain," Moody's wrote

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Digital twin deployments surge in BFSI sector, study finds

Friday, August 18, 2023

Digital twin tech is trending in banking, financial services and insurance (BFSI), according to Altair's 2023 Global Digital Twin Industry Report. The report, which contains findings from a survey of 2,000 professionals in 10 countries, was published Aug. 15, 2023.

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Payments illuminate Inc. 5000 Class of 2023

Tuesday, August 15, 2023

Payments industry enterprises were among those featured in the Inc. 5000 list of fastest-growing private U.S. companies. Released Aug. 15, 2023, the list ranked honorees by revenue, industry, state and metro area.

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NJ tech gathering highlights work-life balance

Friday, August 11, 2023

Creating a culture of greatness was the topic of a lunch-and-learn presentation held Aug. 10, 2023 at Bell Works Campus in Holmdel, N.J. Jointly hosted by CoLab at Bell Works, NextTech Communications, and Momentum Technology, the interactive workshop was the latest offering in the ongoing NJ Women in Tech series.

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PayPal stablecoin faces headwinds

Thursday, August 10, 2023

PayPal wants to dig deeper into the world of cryptocurrencies. The payments company revealed, launching its first a stablecoin with the trust company Paxos. It's called PayPal USD. There could be regulatory obstacles, however.

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MPC23 returns to Atlanta's Transaction Alley

Wednesday, August 9, 2023

MPC: The Digital Commerce Event will return to the Westin Atlanta Perimeter North, Aug. 23 to 25, 2023, attracting a cohort of speakers, sponsors, exhibitors and attendees from myriad sectors of digital commerce, event organizers stated.

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ATM operators, card brands to face off in court

Thursday, August 3, 2023

The National ATM Council Inc. and counsel MoginRubin LLP, a specialty antitrust law firm, disclosed that their lawsuit against Visa and Mastercard will move forward, following a July 25, 2023, decision by the U.S. Court of Appeals for the District of Columbia Circuit.

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Advocates talk, regulators listen

Tuesday, August 1, 2023

The payments industry faces increased scrutiny on both sides of the pond, according to recent reports, as regulators and advocates discuss secure, compliant approaches to cryptocurrencies, payments and consumer privacy.

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