Debit news and trends

With Illinois Interchange Ban Under Injunction, Banks and Merchants Await Next Move
Credit Cards // January 29, 2025

A battle in Illinois over interchange fees could influence other states to decide whether these fees should be reshaped or banned. Banks charge each other interchange fees to cover the processing costs of credit and debit card payments. When a consumer buys goods or services...

Generational Divide in Online Shopping? Not So Fast, Says New Report
Credit Cards // January 22, 2025

Conventional wisdom is that younger generations are tech-savvy and the most willing to try new devices, apps and payment methods. However, PYMNTS Intelligence research from the How People Pay Report, titled “eCommerce for All: How Consumers Across Generations Make Purchases Online,” found that any generation...

What to Watch as the Debit Interchange Fee Battle Heats Up in 2025
Regulation // December 26, 2024

Sweeping changes to debit card interchange fees — and the ways debit transactions are facilitated — may come in 2025. As a result, the economics of debit payments may also change, with ripple effects that impact issuing banks, merchants and consumers. The Fed in Focus...

CFPB Sues Walmart and Branch Over Accounts for Gig Economy Drivers
Gig Economy // December 23, 2024

Both Walmart and FinTech company Branch said Monday (Dec. 23) that they will defend themselves “vigorously” against a Consumer Financial Protection Bureau (CFPB) lawsuit filed against the companies. The CFPB sued Branch and Walmart Monday, alleging that the companies illegally opened accounts for gig economy...

Interviews & Exclusives
With Illinois Interchange Ban Under Injunction, Banks and Merchants Await Next Move

January 29, 2025
A battle in Illinois over interchange fees could influence other states to decide whether these fees should be reshaped or banned. Banks charge each other interchange fees to cover the processing costs of credit and debit card payments. When a consumer buys goods or services with a card, the merchant gets the remaining amount of […]

Generational Divide in Online Shopping? Not So Fast, Says New Report

January 22, 2025
Conventional wisdom is that younger generations are tech-savvy and the most willing to try new devices, apps and payment methods. However, PYMNTS Intelligence research from the How People Pay Report,...

What to Watch as the Debit Interchange Fee Battle Heats Up in 2025

December 26, 2024
Sweeping changes to debit card interchange fees — and the ways debit transactions are facilitated — may come in 2025. As a result, the economics of debit payments may also...

Visa Sees Cloud-Native Banking and Flexible Credentials as Modern Issuing Must-Haves

October 11, 2024
In a world where the average consumer has more computing power in their pocket than the Apollo 11 spacecraft, it’s no surprise that the financial landscape is undergoing a seismic...

Quick Reads
CFPB Sues Walmart and Branch Over Accounts for Gig Economy Drivers

December 23, 2024
Both Walmart and FinTech company Branch said Monday (Dec. 23) that they will defend themselves “vigorously” against a Consumer Financial Protection Bureau (CFPB) lawsuit filed against the companies. The CFPB sued Branch and Walmart Monday, alleging that the companies illegally opened accounts for gig economy delivery drivers without their consent, required drivers to receive their […]

UK’s Regulator to Cap Cross-Border Interchange Fees

December 13, 2024
The United Kingdom’s Payment Systems Regulator (PSR) proposed a price cap on cross-border interchange fees and is seeking comment on the level at which the cap should be set. The...

Report: Walmart and Ribbit Lead FinTech One’s $300 Million Funding Round

December 12, 2024
Walmart and investment firm Ribbit Capital are reportedly leading a funding round of more than $300 million for FinTech startup One, which is majority-owned by Walmart. The round, which has...

Visa Direct to Enable Delivery of Money in US Within 1 Minute Starting in April

December 12, 2024
Visa will begin enabling faster delivery of money with Visa Direct, making funds transferred to U.S. bank accounts available within one minute. This capability will begin in April 2025, allowing...