PayPal Bails Out Of Russian Domestic Payment Services
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
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
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
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
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
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
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
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
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
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…