C|C Payments Blog

Payments News Update – January 26, 2024

Legal and Regulatory Developments SPOTLIGHT: 'More Than Enough' Amex Evidence for Visa, Mastercard Trial Law360 – January 23, 2024 (subscription required) Visa and Mastercard appear bound for trial on antitrust claims over network rules forcing merchants to accept the companies' cards without the ability to steer consumers to cheaper swipe fee options, under a New York federal judge's ruling unsealed Monday...

Payments News Update – January 19, 2024

Legal and Regulatory Developments SPOTLIGHT: States Race Ahead of US Lawmakers in Payments Payments Dive – January 12, 2024 The federal government has made a valiant effort to keep up with the fast-changing world of payments, but it’s falling behind the 50 states lately. New York is a striking example of the phenomenon. Not only did that state pass a law requiring merchants to cap their credit card...

Payments News Update – January 12, 2024

Legal and Regulatory Developments SPOTLIGHT: 6 Payments Trends to Watch in 2024 Payments Dive – January 9, 2024 Swipe fee battles, real-time payments, fraud prevention and acquisition plans will be among the hot topics pulsing through the industry this year. Battles over card interchange fees, also known as swipe fees, will take center stage again this year, with payments industry forces clashing over them...

Payments News Update – January 5, 2024

Legal and Regulatory Developments SPOTLIGHT: NY Governor Pursues BNPL Regulation Payments Dive – January 3, 2024 New York Gov. Kathy Hochul announced Tuesday she’s pursuing buy now, pay later-related legislation that would require BNPL providers to obtain a license to operate in the state. The bill would also permit the state’s financial services department to propose and issue regulations for the...

Payments News Update – December 22, 2023

Legal and Regulatory Developments SPOTLIGHT: The Justice Department Takes Aim at Microtransactions Fraud Digital Transactions News – December 19, 2023 The U.S. Department of Justice announced late Friday it is filing cases against several fraud rings that use so-called microtransactions to mask their fraudulent activity from victims and card issuers. The lawsuits are being brought as part of efforts by the...

Payments News Update – December 15, 2023

Legal and Regulatory Developments SPOTLIGHT: Governor Hochul Signs Four New Laws to Protect Consumers from Price Gouging, Medical Debt and Unfair Business Practices New York State Press Release – December 13, 2023 Governor Hochul today signed legislation . . . that will curb predatory subscription services, and confusion over the price of many goods and services. . . . Legislation S.5941B/A.3245D requires...

Payments News Update – December 8, 2023

Legal and Regulatory Developments SPOTLIGHT: Lower Credit Card Transaction Fees Coming to Small Business as Canadian Agreement Reached Daily Hive – December 5, 2023 Canada has reached an agreement with Visa and Mastercard to lower credit card transaction fees for small businesses. This comes after businesses were allowed to pass the cost of credit card fees onto the consumer in October 2022. Now, The...

Payments News Update – December 1, 2023

Legal and Regulatory Developments SPOTLIGHT: UK Payment Sector Urged to Develop System to Bypass Dominant Card Networks Financial Times – November 22, 2023 (subscription required) The UK should develop ways to challenge the dominance of the big card networks and is “at risk of falling behind” other countries unless it builds an alternative to its “clunky” Faster Payment Service, according to a...

Payments News Update – November 17, 2023

Legal and Regulatory Developments SPOTLIGHT: Why the CFPB Proposal for Big Techs May Affect the Entire Industry The Financial Brand – November 9, 2023 The Consumer Financial Protection Bureau is asserting the ability to perform examinations of major digital wallet and mobile payments providers in a regulatory proposal. This would be the first time entities like Apple Pay, Google Pay and more than a dozen...

Payments News Update – November 10, 2023

Legal and Regulatory Developments SPOTLIGHT: US Consumer Watchdog Proposes Rules for Big Tech Payments, Digital Wallets Reuters – November 7, 2023 The top U.S. consumer financial watchdog on Tuesday proposed to regulate tech giants' digital payments and smartphone wallet services, saying they rival traditional payment methods in scale and scope but lack consumer safeguards. The Consumer Financial...