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Western Union to test debit, credit card offerings in bank push

Payments Source

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Wells Fargo Seeks Bidders For Private-Label Credit Card Unit

PYMNTS

Wells Fargo & Co is seeking to sell its private-label credit card and point-of-sale (POS) financing unit as part of an ongoing strategic review of its businesses. Selling the private-label credit card unit would be a business reversal for the financial services group. Debit card POS purchase volume hit $102.9

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Credit card interest rates reach record

Payments Dive

With the Federal Reserve pushing up interest rates to calm inflation, the average credit card interest rate is climbing, too, reaching a two-decade-plus record in August.

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Singapore Will Not Include Credit Card Fraud in Shared Responsibility Framework

Fintech News

Singapore’s government has clarified that the Shared Responsibility Framework will not apply to credit card fraud cases, citing existing robust protections for consumers. This clarification came in response to a parliamentary question on the prevalence of credit card fraud in the country. million each year.

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Durbin bashes United Airlines in CCCA fight

Payments Dive

Dick Durbin took to the Senate floor Thursday to push for a vote on the Credit Card Competition Act, taking a swipe at United Airlines along the way.

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Marshall keeps up CCCA crusade

Payments Dive

Roger Marshall acknowledged the Credit Card Competition Act bill may not get a vote this year, but he intends to keep pushing for passage in 2024.

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There’s a Push to Ban Junk Fees. Does It Affect Credit Card Surcharging?

Stax

In recent years, market adoption of credit card surcharging—a practice by which merchants pass on the transaction fee for accepting a credit card to the cardholder—has increased dramatically. In 2024 alone, more than a dozen state legislatures introduced bills related to surcharging and consumer fees generally.