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PayPal Bails Out Of Russian Domestic Payment Services
Payments & Banking

PayPal Bails Out Of Russian Domestic Payment Services

ByRichard Meldner June 30, 2020February 9, 2021

Russian news agency TASS reports that PayPal is changing its business model in Russia, citing details from a letter PayPal sent to the Russian Central…

PayPal Issues Advance Notice On User Agreement Updates Effective July 31, 2020
Payments & Banking

PayPal Issues Advance Notice On User Agreement Updates Effective July 31, 2020

ByRichard Meldner June 24, 2020February 9, 2021

PayPal sent out an advance notice to users to inform them of impending changes to the PayPal User Agreement. Most of these changes will go…

Payment Processor Square Defends Reserves Policy After Mounting Criticism
Payments & Banking

Payment Processor Square Defends Reserves Policy After Mounting Criticism

ByRichard Meldner June 23, 2020February 9, 2021

In May we reported that Square was withholding portions of payments for some merchants for up to 120 days citing its Reserves Policy. The practice…

Open Payments Coalition Launches PayID, A Universal ID For Global Payments
Payments & Banking

Open Payments Coalition Launches PayID, A Universal ID For Global Payments

ByNewswire June 22, 2020February 9, 2021

Leading technology, finance and nonprofit companies join forces to announce the launch of PayID, a universal payment ID to simplify the process of sending and…

Visa Launches Digital Tool To Combat New Account Fraud
Payments & Banking

Visa Launches Digital Tool To Combat New Account Fraud

ByNewswire June 22, 2020February 9, 2021

Visa launches a digital tool to help U.S. financial institutions with their efforts to combat new account fraud – estimated at $10 billion a year…

WhatsApp Users In Brazil Can Now Send Digital Payments Inside Chats
Payments & Banking | Uncategorized

WhatsApp Users In Brazil Can Now Send Digital Payments Inside Chats

ByNewswire June 17, 2020February 9, 2021

WhatsApp launched digital payments in Brazil enabling users to securely send money without leaving the chat. With over 10 million small and micro-businesses being the…

Amazon To Begin Using Mastercard Tokens In 12 Countries
Amazon | Payments & Banking

Amazon To Begin Using Mastercard Tokens In 12 Countries

ByNewswire June 17, 2020February 9, 2021

Mastercard announced that Amazon customers in 12 countries across North America, Latin America, Middle East and Europe will have their stored card credentials tokenized. By…

American Express Becomes First Foreign Payments Network To Receives Approval In China
Payments & Banking

American Express Becomes First Foreign Payments Network To Receives Approval In China

ByRichard Meldner June 15, 2020June 18, 2020

American Express announced its joint-venture in mainland China, Express (Hangzhou) Technology Services Company Limited (Express Company), has received final approval from the People’s Bank of…

Credit Card Processor Square Faces Lawsuit Over Merchant Payment Holds
Payments & Banking

Credit Card Processor Square Faces Lawsuit Over Merchant Payment Holds

ByRichard Meldner June 3, 2020February 24, 2021

Last month we reported that Square notified a small business merchant that it would withhold 30 percent of the transaction amount in a Reserve for…

Kabbage Received Approval For Over 110,000 PPP Loans to Help Small Businesses
Payments & Banking

Kabbage Received Approval For Over 110,000 PPP Loans to Help Small Businesses

ByNewswire May 21, 2020

Kabbage reports it has received SBA approval to fund over 110,000 Paycheck Protection Program (PPP) applications, surpassing $3.5 billion. With a focus on serving America’s…

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