Breaking Industry News
Breaking News articles for February 2025
Proposed bill would crack down on crypto ATM scams
Friday, February 28, 2025
Senator Dick Durbin, D-Ill., ranking member of the Senate Judiciary Committee, wants to put a stop to crypto ATM fraud. Apparently, fraudsters are hoodwinking Americans, primarily older Americans, and lining their pockets with the help of cryptocurrency ATMs.
BNPL usage surges among younger consumers, J.D. Power finds
Thursday, February 27, 2025
The buy now, pay later (BNPL) financial model continues to gain traction among U.S. consumers, with notable growth observed during the 2024 holiday season. According to the J.D. Power 2025 U.S. Buy Now Pay Later Satisfaction Study, released on Feb. 27, 2025, the adoption of BNPL services has risen significantly year-over-year, particularly among Generations Y and Z.
GS interviews Treasury Prime's Jeff Nowicki
Tuesday, February 25, 2025
In this Q&A, Jeff Nowicki, chief banking officer at Treasury Prime, discusses the challenges community banks and payments companies face when balancing seamless customer onboarding and stringent AML/KYC compliance—including evolving regulations, outdated technologies and operational inefficiencies—and explains why FIs must now adopt smarter, tech-driven approaches.
Numerous state AGs join actions to keep CFPB doors open
Monday, February 24, 2025
A passel of state attorneys general filed a pair of amicus briefs in support of parties opposed to the shuttering of the Consumer Financial Protection Bureau. Among other things, the attorneys general argue that the sudden shuttering of the federal consumer watchdog agency will give large banks and nonbank financial services providers carte blanche to engage in activities that not only hurt consumers but disadvantage small community banks.
Things that caught our eye this week
Friday, February 21, 2025
As the financial and customer service industries continue to evolve, key organizations are making strides to enhance efficiency, security and innovation.
Mastercard simplifies checkout with new digital credential
Thursday, February 20, 2025
There is a new payment solution in town. It's the Mastercard One Credential, and makes it possible for consumers to employ multiple payment forms. Especially younger consumers.
Zelle shatters records with unrivaled growth
Wednesday, February 19, 2025
Zelle, the person-to-person payment network operated by Early Warning Services LLC, was the payment network of choice for 151 million consumers and small businesses last year. Combined, those customers sent over $1 trillion across the network – the most ever sent via a P2P payments service in a single year, according to EWS.
GS interviews Bluefin's Tim Barnett
Tuesday, February 18, 2025
In today's rapidly evolving digital payments landscape, security remains a top priority for businesses and consumers alike. In the following Q&A, Tim Barnett, chief information officer at Bluefin, shares his insights on how tokenization enhances payment security, the benefits for merchant acquirers and what the future holds for this essential technology.
Powell says emphatic no to CBDC
Friday, February 14, 2025
If you've been waiting for a definitive statement on creation of a U.S. central bank digital currency, your wait is over. Federal Reserve Chairman Jerome Powell made it clear in testimony on Capitol Hill this week that there will be no CBDC, as least as long as he's in charge of the Fed.
Valentine's Day spending hits record high
Thursday, February 13, 2025
As Valentine's Day approaches, consumers are set to break spending records, with total expenditures expected to reach $27.5 billion, according to the National Retail Federation (NRF) and Prosper Insights & Analytics. This marks a significant increase from last year's $25.8 billion and surpasses the previous high of $27.4 billion set in 2020. On average, shoppers plan to spend $188.81, up slightly from 2024's $185.81.
As CFPB goes, so goes Big Tech payments oversight
Tuesday, February 11, 2025
The Trump Administration shuttered the Consumer Financial Protection Bureau, which means, among other things, that Big Tech payment schemes likely will not be held to the same regulatory standards as financial institutions offering payment services.
GS interviews Swipesum's Michael Seaman
Monday, February 10, 2025
In the following Q&A, Michael Seaman, CEO of Swipesum, shares his insights on how Elon Musk’s partnership with Visa, formed to introduce X Money, a digital wallet service enabling real-time peer-to-peer payments and fund transfers via Visa Direct, and the emergence of Trump’s fintech venture, Truth.Fi, could shape the broader payments landscape.
Things that caught our eye this week
Friday, February 07, 2025
From shopping trends to financial security, we've noticed key shifts that are shaping 2025. AI is playing a growing role in Valentine's Day purchases, while the EU's new PSD3 directive tightens payment security. Businesses face rising cybersecurity threats, and fintech giant Stripe is making a bold move into crypto with its biggest acquisition yet.
CFPB put on mothball status
Wednesday, February 05, 2025
Rohit Chopra is out as director of the Consumer Financial Protection Bureau, and all of the bureau's work is now on hold. Chopra was fired by President Trump on Feb. 3, 2025, and Treasury Secretary Scott Bessent was named acting director of the bureau.
RTP doubles volume in 18 months
Tuesday, February 04, 2025
RTP, the private sector real-time payment network operated by The Clearing House, reached a major milestone. Just 18 months after crossing the 500 million transaction mark, the network surpassed 1 billion payments on Fri., Jan. 31, 2025.
NRF 2025 highlights AI, experiential retail
Monday, February 03, 2025
Payments industry journalist Dale Laszig attended the National Retail Federation's annual conference Jan. 12 to 14, 2025, at New York City's Jacob J. Javits Convention Center, an event that attracted 40,000 attendees, 1,000 exhibitors and 5,000 brands. Following is her report:
