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Fed Moves to Require Same-Day Payments
The Federal Reserve Board is taking public comment on whether to require member banks to move to same-day payments after an industry group voted to mandate faster payments among the nation’s 12,000 financial institutions.  more »
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California officials are considering a wide range of options to regulate digital currencies such as Bitcoin. more »
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ATMs have long been a target of fraudsters hoping to steal a large amount of card data from unsuspecting consumers, and the problem looks like it can only get worse before it gets better. more »
Ryan McInerney, Visa's president
Visa Inc. isn't expecting a near-term financial boost from processing domestic card transactions in China, even though the doors have finally opened up to do business in the massive Chinese market. more »
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It took a long time, but the U.S. banking industry has finally embraced the concept of speedier payments. more »
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The Consumer Financial Protection Bureau has cited PayPal for illegally signing up consumers for online credit. more »
Janet Estep, Nacha's president and CEO
The plan calls for the implementation of two new same-day settlement windows by March 2018. Fees that banks and credit unions will pay each other to cover the cost of the upgrades have been decreased. more »
Paul Galant, CEO of Verifone
If Verifone wants to benefit from the major card brands' efforts to operate in China, it must confront a virtual army of independent sales organizations already selling low-cost payment terminals. more »
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In a move foreshadowed by Alibaba Group Holding's initial public offering in the U.S., the China-based e-commerce giant's Alipay division has received a U.S. money transmitter license. more »
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MasterCard Inc. is poised to receive an antitrust complaint from European Union watchdogs probing card-payment fees, according to three people with knowledge of the case. more »
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All of eBay Inc.'s 15 board members will remain with the company or become new board members of PayPal when it spins off from eBay in the third quarter. more »
Austin Mills, an associate at Morris, Manning and Martin, LLP
Many payments companies face challenges from complex money transmitter laws that could be simplified if a pending change in North Carolina is adopted by other states. more »
The Payment Card Industry security standards council's PCI 3.0 revision, revealed in January, adds requirements that take effect at the end of June, putting unprepared merchants at risk of fines if they suffer a breach. more »