Payments News Update – June 26, 2026
Legal and Regulatory Developments
SPOTLIGHT: BNPL Groups ‘Neutral’ on Illinois Bill
Payments Dive – June 23, 2026
An Illinois bill to license and regulate buy now, pay later providers is similar to a New York law, but hasn’t generated the same level of opposition by the BNPL industry.
Illinois would become only the second state with a distinct law regulating installment loan providers, if Gov. JB Pritzker signs the measure. New York enacted legislation in May 2025 to regulate BNPL lending.
Illinois’ Buy-Now-Pay-Later Loan Consumer Protection Act was formally sent to Pritzker by the Senate on Monday, according to the General Assembly website. It passed the House of Representatives on June 1, following Senate approval last month. . . .
Digital Euro Clears Key Hurdle as EU Seeks to Break Free From U.S. Credit Cards
Reuters – June 23, 2026
The European Central Bank secured key parliamentary backing on Tuesday for the launch of a digital euro, an electronic means of payments aimed at making the euro zone less reliant on U.S. credit cards at a time of fraying transatlantic relationships.
The digital euro, essentially an electronic wallet guaranteed by the central bank but marketed by banks or fintech companies, will allow all euro zone residents to make payments online and in person.
Six years in the making, the ECB’s digital cash has become a more pressing issue since Donald Trump returned to the White House, slapping tariffs on even established trade partners such as the European Union and raising fears that the U.S. could one day weaponize its dominance over payment networks like Visa and Mastercard. . . .
Visa, Mastercard Fend Off Fee Foes
Payments Dive – June 22, 2026
Colorado and Illinois legislators passed state bills to curb credit and debit card fees that Visa, Mastercard and their issuers impose on merchants, but both bills have suffered setbacks this year. Neither has taken effect, with one vetoed this month and the other postponed.
On another front in merchants’ battle against card fees, a federal court settlement between the card networks and merchants that was expected to offer increased relief from the fees remains unpopular with many plaintiffs. It was approved this month amid protest.
The developments at the state and national levels point to what seems to have become an industry truism: The battle between card companies and merchants will persist, with the latter decrying Visa and Mastercard’s control of the market. . . .
Industry Developments
SPOTLIGHT: 53% of Businesses Plan RTP Adoption as Payment Habits Shift
PYMNTS – June 19, 2026
The biggest obstacle to real-time B2B payments may be that the old system is not broken enough.
That was one of the more practical takeaways from the PYMNTS Intelligence report “Ready and Willing: B2B Payments Are Headed for Real-Time Rails. Here’s How They’re Getting There,” a collaboration with The Clearing House.
The report found that real-time payments outperform non-instant methods across every major business outcome measured, from supplier access to funds to reconciliation and cash flow management. Yet adoption remains early. . . .
Growth in AI for Shopping Will Depend on Trust
Digital Transactions News – June 23, 2026
The idea of using AI agents to shop online on the consumer’s behalf intrigues payments providers and consumers alike, but the full rollout of this technology is going to depend on how much buyers and processors can trust the technology, according to survey results released early Tuesday.
That need for trust also raises questions about security and transparency in these transactions, the research says, as about two-thirds of the U.S. respondents are looking for security “equal to or better than existing payment methods,” according to the results.
“As agentic commerce continues to evolve, secure payments and fraud protection will play a critical role in helping consumers and merchants embrace these new experiences with confidence,” says Michaela Weber, senior vice president of product management at Austin, Texas-based Commerce, which sponsored the study along with PayPal, in a statement. . . .
The Hidden Cost of Your Points
Quartz – June 22, 2026
Every time someone swipes a credit card, a small fee flows from the merchant to the bank.
Most shoppers never think about it. But a growing coalition of retailers, lawmakers, and academics argues the system quietly shifts money from poorer Americans to richer ones, and Congress may finally act.
Credit card swipe fees have climbed 70% since 2019 to $198 billion in 2025, according to the Nilson Report. The rise has been driven by higher consumer spending, declining cash use, and a fundamental change in the kinds of cards Americans are carrying, which increasingly include rewards that have to be paid for somehow. . . .