The Fintech Times

MARCH 3, 2025

The Payments Association , the trade group representing the payments sector, has launched its Payments Manifesto for 2025, urging the UK government to modernise the payment infrastructure to ensure consumer protection.

Government 59

Government Governance Financial Inclusion Consumer Protection 59

Clearly Payments

JUNE 12, 2024

Chargeback disputes represent a growing challenge for merchants and financial institutions. Originating as a consumer protection mechanism, chargebacks were designed to ensure customers could dispute fraudulent or erroneous transactions. We dig into the facts and statistics on chargebacks.

Disputes 52

Disputes Card Issuer Acquirers Transactions 52

EBizCharge

MARCH 14, 2025

A well-crafted refund and cancellation policy is essential for any business, as it provides clear guidelines that protect the company and its customers. These policies help set expectations, reduce disputes, and ensure efficient transactions by outlining the terms under which refunds and cancellations are allowed.

Returns 52

Returns Disputes Legal Non-Bank 52

Clearly Payments

JUNE 21, 2024

Winning chargeback disputes is important for merchants because chargebacks take time to deal with and lead to financial losses and increased processing fees. Here’s a guide to help merchants navigate and win chargeback disputes in credit card processing. Credit cards have a strong value proposition of consumer protection.

Disputes 52

Disputes Address Verification System (AVS) Credit Cards Best Practices 52

Clearly Payments

SEPTEMBER 18, 2024

A chargeback is a reversal of a credit card transaction initiated by the cardholder’s bank, usually as a result of a dispute by the customer over the purchase. It acts as a consumer protection tool, allowing customers to reclaim funds for unauthorized transactions, fraud, or dissatisfaction with goods or services.

Disputes 105

Disputes Fraud Prevention Payments Credit Cards 105

Fintech News

JUNE 5, 2024

BNPL providers will need to assess whether their products are suitable and affordable for consumers. When consumers do get into trouble, they might not have access to effective dispute resolution and hardship processes. The new laws aim to balance consumer protection with innovation and competition.

Regulations 110

Regulations BNPL Product Consumer Protection 110

Fintech Finance

FEBRUARY 5, 2025

Curve , the ultimate digital wallet, has become the first to offer section 75 protection on purchases made through its Wallet. This is a step change in consumer protection, allowing users to make payments without worrying about losing money if a product is faulty or if theres a problem with the purchase.

Debit Card 59

Debit Card Consumer Protection Credit Cards Consumer 59

The Fintech Times

FEBRUARY 6, 2025

Separately, it is noted that the recent rulings in the EU and US requiring Apple to unlock the iPhone’s near field communication (NFC) capabilities have enabled Curve Wallet customers to make payments on their iPhone using Curve or their Curve card, which includes enhanced features from Curve, such as access to credit and purchase protection.

Debit Card 64

Debit Card Credit Cards Payments Laws 64

Fintech News

JANUARY 7, 2025

Push notifications, he noted, cannot be phished, unlike SMS OTPs, further enhancing consumer protection. The chargeback mechanism under card scheme rules also offers recourse for cardholders to dispute charges and recover funds, particularly in cases where merchants fail to enable 3DS authentication.

Credit Cards 100

Credit Cards Push-to-Card Card Issuer Authentication 100

The Fintech Times

MAY 22, 2024

This decision mandates that BNPL users will now have the right to dispute charges and obtain refunds for returned products, aligning BNPL services with the consumer safeguards traditionally associated with credit cards. In 2021, people disputed or returned $1.8billion in transactions at five firms surveyed.

BNPL 64

BNPL Credit Cards Consumer Financial Protection Bureau (CFPB) CFPB 64

Fintech Finance

SEPTEMBER 24, 2024

Furthermore, the manifesto includes policies to encourage the use of interoperable dispute management systems to tackle first party fraud and reduce errors and the adoption of robust digital verification frameworks to create a safer financial ecosystem.

Cross-Border Payments 95

Cross-Border Payments Financial Inclusion Cross-Border Payments 95

Neopay

MAY 28, 2024

Consumer Financial Protection Bureau (CFPB) issued a new interpretation under the existing Truth in Lending Act. Regardless of whether a shopper swipes a credit card or uses Buy Now, Pay Later, they are entitled to important consumer protections under longstanding laws and regulations already on the books.”

Credit Cards 52

Credit Cards BNPL Consumer Financial Protection Bureau (CFPB) Regulations 52

Fintech Finance

MARCH 3, 2025

The aim of this initiative is to establish a “trusted, world-leading payments ecosystem” by promoting innovation, competition and consumer protection within the payments sector, that can help the UK regain global leadership in payments and unleash growth.

Government 80

Government Governance Innovation Cross-Border Payments 80

Segpay

JULY 23, 2024

acquirers, they are now rejecting opt-out cross sales or negative options on payment pages due to regulatory concerns, primarily driven by consumer protection legislation, pressure from the card brands to lower dispute rates, and the threat of legal action. .” In talking with our U.S.

FTC 105

FTC Payments Federal Trade Commission Push-to-Card 105

Finovate

JUNE 6, 2024

Yaacov Martin : The Consumer Financial Protection Bureau (CFPB) recently released an interpretive rule for the BNPL industry, which classifies BNPL providers as credit card issuers under the Truth in Lending Act. What will this mean for both fintechs and banks operating in the BNPL space going forward? territories.

Consumer Financial Protection Bureau (CFPB) 52

Consumer Financial Protection Bureau (CFPB) Rules BNPL CFPB 52

PYMNTS

DECEMBER 31, 2020

Add in the current climate of heightened geopolitical uncertainty, trade disputes, foreign exchange volatility and regulatory complexities, and corporate treasurers have their work cut out for them, often with reduced budgets and slim staffing. There are a number of things that intersect here: data, privacy, consumer protection.

Innovation 115

Innovation Payments Shutdown On-Demand 115

Global Fintech & Digital Assets

DECEMBER 21, 2023

Compliance Risk Compliance with various consumer protection-related laws and regulations [1] is critical for banks furnishing BNPL loans to ensure that obligations are understood and met on both sides of the transaction.

OCC 59

OCC BNPL Electronic Fund Transfer Act (EFTA) Federal Trade Commission 59

The Fintech Times

SEPTEMBER 5, 2024

Digital payments giant Visa is set to debut ‘Visa A2A’ in the UK early next year, offering consumers an enhanced digital user experience, advanced security features, and an easy-to-use dispute resolution service that represents a significant upgrade to the existing pay-by-bank experience.

Disputes 59

Disputes Payments Near Real-Time Faster Payments 59

PYMNTS

MAY 8, 2019

.” Reports pointed to the merchant cash advance industry in particular, an unregulated area of small business finance that often requires SMB borrowers to agree to confessions of judgment, which means those borrowers agree to lose any court dispute that may arise in the future as a condition of obtaining financing.

FTC 60

FTC Federal Trade Commission Small Business Regulations 60

Neopay

NOVEMBER 27, 2023

However, for open banking to take off for retail and P2P payments, the report says that consumer protections need to be improved with a minimum form of dispute resolution. Without sustainable financials, it is hard to see that open banking can thrive over the long term.”

P2P 52

P2P Push-to-Card Consumer Protection Visa 52

PYMNTS

APRIL 16, 2020

This transparency is intended to reduce disputes and adds to consumer protections Visa has had in place since 2011, the company said.

Disputes 52

Disputes Consumer Protection Agreements Consumer 52

Finovate

SEPTEMBER 18, 2024

In all, around $85 million in consumer funds are missing due to discrepancies in Synapse’s records. Adding to the confusion, the dispute is ongoing in court, and because Synapse is a fintech and is thus unregulated, regulatory bodies are unable to protect consumers, many of whom are still missing their funds.

Rules 52

Rules FDIC Non-Bank Money Laundering 52

FICO

JANUARY 5, 2023

While there is some dispute whether baseball Hall of Famer Yogi Berra uttered these words, it is irrefutable that making predictions is tough business. However, some have questioned whether the same consumer protection laws apply to all BNPL activity. Tue, 07/02/2019 - 02:45. by Daniel Nestel. VP, Government Relations.

BNPL 52

BNPL CFPB Consumer Financial Protection Bureau (CFPB) Privacy 52

PYMNTS

JULY 2, 2018

The companies vowed to protect small business borrowers, disclose pricing and resolve any disputes fairly. Prospa signed the code alongside Spotcap, Capify, GetCapital, OnDeck and Moula, reports said.

Small Business 40

Small Business Disputes Consumer Protection Finance 40

EBizCharge

JULY 2, 2024

For higher transaction amounts, they typically require a PIN or biometric verification, offering enhanced consumer protection. How do I handle disputes over payments? Handle payment disputes professionally by listening to the customer’s concerns and investigating the issue thoroughly.

Contactless Payments 52

Contactless Payments Payments Disputes Online and Mobile Banking 52

Segpay

OCTOBER 4, 2023

Such practices can lead to legal and regulatory challenges, particularly if consumers are harmed or misled. Compliance with Consumer Protection Laws: Affiliate marketers must adhere to various consumer protection laws and regulations, such as the Federal Trade Commission (FTC) guidelines in the United States.

Security 52

Security Due Diligence Compliance Payments 52

The Fintech Times

JANUARY 13, 2024

“Growth has been so dramatic that some of the regulatory framework surrounding the technology still lags behind – most notably in terms of consumer protection. Integration into digital wallets will boost adoption, as will improvements to the dispute resolution process. “This will take years, not months.

Payment APIs and Integration 81

Payment APIs and Integration Use Case On-Demand Consumer 81

Payment Savvy

NOVEMBER 30, 2021

In 2020, the Consumer Financial Protection Bureau (CFPB) published two rules which implement the Fair Debt Collection Practices Act (FDCPA). While the revised legislation currently offers greater consumer protections, it is also likely to result in new consumer abuses.

Regulations 52

Regulations Consumer Financial Protection Bureau (CFPB) CFPB Rules 52

PYMNTS

JULY 26, 2016

CFPB Director Richard Cordray defended the database as “part of our DNA,” playing an important role in guiding the agency’s supervision of companies, enforcement actions, rulemaking and consumer protection. The CFPB handled around 271,600 in 2015, up 8 percent from 2014. The CFPB says companies respond to 97 percent of the complaints.

CFPB 40

CFPB Database Consumer Multi-Currency 40

PYMNTS

DECEMBER 31, 2018

While the intricacies of how exactly Cambridge Analytica gathered the data are still somewhat contested, no one is disputing that it got access to customer data that it wasn’t supposed to have. Customers that may have been impacted were offered consumer protection services. Fitness Hacks.

Data Breach 92

Data Breach Breach Database Compromise 92

PYMNTS

JULY 13, 2018

The Commission educates consumers and businesses on their rights and obligations under the FCRA by creating materials such as the Start with Security and Stick with Security initiatives, and the Protecting Personal Information: A Guide for Business.

FTC 41

FTC Law Enforcement Federal Trade Commission Procedures 41

Open Banking

APRIL 28, 2023

John Penrose MP, Member of Parliament for Weston-super-Mare; author of Power to the People 2021 , an independent report on ways to improve consumer protection and promote competition. Marion King, OBL Chair and Trustee. Daniel Gordon, Senior Director of Markets, Competition and Markets Authority (CMA).

Finance 52

Finance Authorization Interoperability Consumer 52

Electronic Payments Coalition

MARCH 26, 2024

These rules will maintain core consumer protections and transparency, replacing standards that had been updated in 2012. Visa and Mastercard must negotiate swipe fees in good faith with merchant buying groups, and the agreement provides a streamlined process for resolving disputes.

Agreements 52

Agreements Payment Networks Settlement Credit Cards 52

Payment Savvy

JULY 3, 2024

Chargeback Process (when customers dispute transactions) In some cases, cardholders may dispute a transaction, leading to a chargeback. Credit card transactions tend to have better consumer protection features, such as extended warranties and purchase protection, compared to debit card transactions.

Debit Card 52

Debit Card Process PCI DSS Processors 52

Stax

JANUARY 15, 2024

Inform them about the surcharge policy, highlighting the consumer protection guidelines. Merchants may also face disputes from customers and chargebacks. Communicate surcharges to customers Know your customer’s preferred channels (e.g., email, social media, SMS), and tailor concise messages to those channels.

Credit Cards 88

Credit Cards PCI DSS Compliance Process 88

Segpay

DECEMBER 7, 2023

The main objectives of the DSA are to: Ensure high-level protection for users’ fundamental rights online, such as freedom of expression, privacy, data protection, non-discrimination, and consumer protection.

Compliance 52

Compliance Privacy Regulatory Compliance Data Security 52

PYMNTS

OCTOBER 20, 2017

If either party encountered a legal dispute on either website, there was no one to stand up and appeal for them, and they may lose their sales revenue entirely. Merchants collectively lost hundreds of millions on inventory in early 2016, for example, when Amazon decided to recall and refund hoverboards.

Cross-Border 41

Cross-Border PayPal Product Consumer 41