Fiserv CEO compensation rose last year to $28M

Compensation for Fiserv CEO Frank Bisignano climbed 57% over 2022, as the value of stock awarded to him surged and he received a $3 million cash bonus.

Tension brews over healthcare payments: JPMorgan

Healthcare consumers are often confused about the bill payment process, while providers grapple with delays and high collection costs, according to a survey by the bank.

Whole Foods to pull Amazon’s Just Walk Out technology from stores

The specialty grocer, which operates the checkout tech at just two stores, will follow the same path as Amazon Fresh stores in the U.S., a spokesperson confirmed Friday.

Virtual marketplaces risk real losses: CFPB

Virtual worlds “can become a haven for scams, fraud, financial losses, and unanticipated purchases that can deplete a family’s real-world financial assets,” CFPB Director Rohit Chopra said.

EWA shouldn’t be regulated like loans

“Attempts to regulate EWA as credit threaten worker access to this innovative and consumer-friendly financial tool,” writes one earned wage access industry CEO.

Amazon debuts app for palm payment

The Amazon One app can be used to enter various locations, identify individuals, pay for items and access loyalty rewards.

NY Fed enters cross-border tokenization effort

The central bank will join six other central banks in exploring blockchain technology to speed up international payments.

Treasury Prime, Narmi partner to offer FedNow service

The partnership aims to simplify and accelerate the adoption of FedNow by small and medium-sized financial institutions in Treasury Prime’s network.

Fiserv to let Brazilians use Pix in US

The payments processing giant is providing support to extend the Brazilian instant payments system to merchants and consumers around the world. 

PayPal pursues pricing power

The digital payments pioneer aims to increase pricing for its services to boost profitable growth under a new management team.

Credit card complaints jumped 38% last year: CFPB

The Consumer Financial Protection Bureau received 70,000 card-related complaints from consumers last year, according to a report last week.

Nuvei goes private in stock sale to Advent

The sale of the Canadian payments processor’s stock to the private equity firm will hand some investors a $560 million windfall.

Amazon to drop ‘just walk out’ at some grocery stores

The e-commerce giant will replace the grab-and-go tech with its smart shopping carts in its Amazon Fresh grocery stores, a tech media outlet reported.

Fiserv has ambitious goals for Clover. Can it meet them?

To achieve growth targets, Clover will need to fend off competition from rivals, especially Square, and make headway in new verticals and geographic regions, analysts and consultants said.

How Amex is entangled in the Visa-Mastercard settlement

The settlement gives merchants the ability to surcharge for nearly all Visa and Mastercard credit card transactions, and puts pressure on American Express to allow the same. 

CFPB warns remittance firms about false ads

The agency told international money transfer companies that “deceptive marketing” may run afoul of federal law.

Warren reiterates call for gun MCC guidance

The Massachusetts senator and 32 other Democrats stressed the need for federal guidance on the gun merchant category code as states diverge.

Discover CEO to exit for Ally

Michael G. Rhodes, who took the top post at Discover this year, is leaving to become the next CEO of the bank Ally.

Walmart can end Capital One card tie early, judge says

It won’t be easy for Walmart to find a new partner to replace Capital One, though, said Brian Riley, co-head of payments at Javelin Strategy & Research.

CFPB targets ‘bait-and-switch’ card reward programs

Major credit card providers saddle rewards programs with fees and interest, burdening consumers who carry balances, CFPB Director Rohit Chopra said.

NY Assembly bill counters governor on BNPL

A New York assemblymember has introduced a buy now, pay later bill, countering one introduced in the governor’s budget bill.

X lands money licenses in Illinois, New Mexico

The social media platform is now nearly halfway to securing the state licenses needed to fulfill owner Elon Musk’s vision of a nationwide payments app.

Visa, Mastercard reach landmark credit card settlement

The two biggest U.S. card networks agreed to cap interchange fees for five years, among other terms, to settle merchant litigation that has lasted nearly two decades.

Private plaintiffs follow DOJ’s Apple antitrust case

The follow-on class actions are substantively similar to the federal government’s case, making them dependent on the agency’s lead in breaking the company’s smartphone stranglehold.

DOJ calls Apple card fees ‘significant expense’ for banks

The tech giant’s fees for credit card transactions “cut into funding for features and benefits that banks might otherwise offer smartphone users,” the Department of Justice said in suing the company earlier this month.