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PayPal Transforms Its Tech to Meet Post-eBay Expectations
PayPal is investing heavily in technology to make sure it is properly equipped for the challenge ahead of it when its split from eBay is finalized.  more »
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Rules published by China's State Council, which take effect June 1, clear the way for Visa and MasterCard to gain a foothold in an industry that the Central Bank said handles 449.9 trillion yuan ($73 trillion) a year. more »
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Google Wallet is making a significant change in how it handles funds, in the latest of a series of moves that gives Google a stronger footing against Apple Pay's rising tide. more »
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China's renminbi is quickly climbing the ladder of global acceptance, but many multi-national corporations are not prepared to accept cross-border payments using that currency. more »
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American Express' financial performance is already suffering from the pending loss of its Costco card business in U.S., pressuring the company's focus on emerging payments technology to provide a financial lift to calm nervous investors. more »
NO LEVERAGE: "It's extremely difficult to get a bank account in this industry, so if you do find a bank you are highly incentivized to play by whatever rules they set for you," says pot lobbyist Taylor West.
As financial institutions worldwide move to cut off relationships with industries that regulators consider risky, the few banks that serve these businesses are charging hefty fees for basic services. more »
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The Payment Card Industry Security Standards Council released its 3.1 update to the industry's data security standards April 15 to address the payment data vulnerabilities of the Secure Sockets Layer encryption protocol. more »
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Visa Inc.'s Antonio Lucio, who oversees marketing, advertising and communications as chief brand officer, is leaving the company to join Hewlett-Packard Co.'s printer business. more »
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The Canadian government is extending its code of conduct for payment cards to any mobile transactions, while also assuring retailers that any savings from reduced interchange will be passed along to them. more »
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EBay Inc.’s payments division PayPal may face a lawsuit from the U.S. Consumer Financial Protection Bureau over some of the unit’s lending practices. more »
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Lyle Beckwith of the National Association of Convenience Stores argues that debit card interchange is unfairly high. But this argument ignores several key points. more »
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WASHINGTON — The Consumer Financial Protection Bureau has filed a massive lawsuit against more than a dozen debt collectors, payment processors and related entities that the agency said failed to detect fraudulent collection tactics. more »
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Retailers say Apple Pay blocks merchants from lower-cost routing options promised in the Dodd-Frank provision authored by Sen. Richard Durbin. “It’s my view that Apple Pay is breaking the Fed’s regulation,” said one merchant advocate.
Merchants are making a new argument in their years-long battle with banks over swipe fees, saying Apple Pay has locked them out of additional routing options mandated by Dodd-Frank. more »