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Breaking News articles for November 2024

Shoppers to break records this holiday weekend

Wednesday, November 27, 2024

Retailers are bracing for a lot of good cheer over the upcoming holiday weekend, and that should bode well for ISO and agent residuals. A record number of people – 183.4 million – are expected to shop during the Thanksgiving holiday weekend, according to a new survey by the National Retail Federation and Prosper Insights & Analytics.

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Consumers treating themselves with BNPL

Tuesday, November 26, 2024

Nearly four out of 10 consumers (38 percent) plan to use pay later options for self-gifting this holiday season, according to a study from Splitit and PYMNTS. The study also found that 38 percent of Millennials will use pay later options more frequently during the holiday season than they do throughout the year.

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Faster payments can 'push' faster frauds

Monday, November 25, 2024

Fast payments come with significant advantages, like helping consumers better manage their cash flows. But the speed and irrevocability of some faster payment networks also make them prime targets for fraudsters.

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Quick takes: Things that caught our eye this week

Friday, November 22, 2024

This week we've noted a new report from Nacha on protecting payments in the quantum era, three more predictions on what's in store for payments in 2025, and comments on the UK's National Payments Vision released Nov. 14, 2024.

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CFPB finalizes big tech payments rule

Thursday, November 21, 2024

The Consumer Financial Protection Bureau made final a rule that would put Big Tech companies offering digital payment apps on a regulatory par with large banks and other financial institutions that already are subject to CFPB oversight.

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Visa Flexible Credential a 'game changer'

Wednesday, November 20, 2024

Visa wants to become an everything network. Not just the rails over which credit and debit card transactions are routed, but all manner of payments. And the first new payment type coming out of the gate looks to be buy now, pay later (BNPL).

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Republicans pile on Visa, Mastercard over interchange

Tuesday, November 19, 2024

Time is running out for the Credit Card Competition Act to pass in the current Congress, but that doesn't mean change isn't in the cards. At a hearing today before the Senate Judiciary Committee lawmakers from both sides of the aisle said the current model of setting interchange and routing card transactions is unsustainable. And some of the harshest criticism came from Republicans.

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Shift4 to join S&P MidCap 400, replacing R1 RCM

Monday, November 18, 2024

Shift4 Payments Inc. will join the S&P MidCap 400, replacing R1 RCM Inc., effective before the opening bell on Wed., Nov. 20, 2024. This change follows the planned acquisition of R1 RCM by TowerBrook Capital Partners and Clayton, Dubilier & Rice, set to close on or around Nov. 19.

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Durbin calls hearing on Credit Card Competition Act

Friday, November 15, 2024

The Democrats may have lost their slim majority in the U.S. Senate, but that hasn't kept Senator Dick Durbin, the Illinois Democrat who authored the Durbin Amendment to the 2010 Dodd-Frank Act, from one more attempt at advancing the Credit Card Competition Act. Sen. Durbin, who chairs the Senate Judiciary Committee, called for a hearing before the panel on Tues., Nov. 19, 2024, on what some have dubbed Durbin 2.0.

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Fraud protection, resolution key to customer satisfaction

Wednesday, November 13, 2024

Fraud protection and resolution have become an unrelenting problem, as well as a critical component of customer satisfaction for financial institutions and credit card companies, a new J.D. Power survey revealed.

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GS interviews PayJunction's Randy Modos

Tuesday, November 12, 2024

Recently, The Green Sheet touched base with Randy Modos, president and co-founder of PayJunction, to learn about how no-code payments help merchants meet the demand for expanded payment options. PayJunction's No-Code Payments Integration platform is an example the company's focus on redefining the payment processing industry through innovation, customer advocacy and transparent pricing. Following is the Q&A with insights Modos shared.

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Jury awards $8 million to ISO snookered by unscrupulous lender

Friday, November 8, 2024

Score one for ISOs paralyzed by unscrupulous lenders. On Oct. 29, 2024, following a seven-week trial and nearly three years of litigation, a 12-person jury awarded $8 million to an ISO that was held "captive" by an unscrupulous lender.

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Visa chief pans DOJ on debit suit

Thursday, November 7, 2024

Visa CEO Ryan McInerney said the card giant is standing firm on its position in the debit marketplace, rejecting a Department of Justice lawsuit that it has created a monopoly in the debit card marketplace.

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Scams, check fraud continue to plague financial world

Tuesday, November 5, 2024

Financial services companies are facing unprecedented increases in fraud of all types. But perhaps most surprisingly, given the growth in payments digitization, is the growth being experienced with check fraud. A new study from Unit21 revealed that nearly a third of banks (30 percent) have seen dramatic increases in check fraud, on the order of 25 to 75 percent in the last 12 months.

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Holiday pay later plans entice millennials, parents, self-gifters

Monday, November 4, 2024

As holiday shopping ramps up, consumers are increasingly turning to pay later options for both gift purchases and self-gifting, according to new research by Splitit and PYMNTS. Their study, The Use of Card-linked Installment Plans in Holiday Shopping, revealed that 38 percent of consumers plan to use pay later options for treating themselves this holiday season.

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Quick takes: Things that caught our eye this week

Friday, November 1, 2024

This week, we're highlighting two sets of predictions for 2025, one from a technology research and consulting firm and another from a payments industry CEO; a new collaboration between long-time Chinese rivals; and a Chinese platform seeking to do business with U.S. retailers.

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