The day after Visa signaled that it will raise the interchange fee charged to U.S. banks next year, both Visa and MasterCard “are on the verge of lowering the processing fees paid by Canadian merchants, a move that reflects the traction merchants have gained with...
In a potentially significant ruling from the Financial Crimes Enforcement Network (FinCEN), Bitcoin platforms are being reclassified as money transmitters. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required....
A New York urban policy professor took jobs at two check cashing centers on opposite coasts—one in Berkeley, one in the South Bronx—and ended up with a hugely different perspective on the need for cash cashers and, more to the point, how banks have gotten...
The FDIC is keeping a close eye on nonbank financial companies, including technology startups, and how they’re affecting banks, American Banker reported. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional...
The Consumer Financial Protection Bureau (CFPB) is looking hard at banks’ policies on opening consumer checking accounts, including the third-party databases they use, American Banker reported. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS...
The U.S. Postal Service is already delivering groceries for Amazon in San Francisco, and has now received an OK to extend the experiment for two years, Internet Retailer reported. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access...
Visa and MasterCard have won a reprieve from Russia’s demand that the card brands pay more than $1 billion each to continue operating in the country, Russia Beyond the Headlines reported. Get the Full Story Complete the form to unlock this article and enjoy unlimited...
Tipalti, the Israeli- and California-based B2B global payments firm, has locked in $13 million in Series B funding, raised in a round led by Wicklow Capital, according to a story in VentureBeat. Get the Full Story Complete the form to unlock this article and enjoy...
The Central Bank in Ecuador is trying to launch a national mobile payment scheme that is designed to handle B2B transactions (along with P2P, top-up, cash in and out, in-store purchases and electronic receipts), deliver a very low rate (a $50 charge costs four cents,...
