Shift4 Payments Inc. will join the S&P MidCap 400, replacing R1 RCM Inc., effective before the opening bell on Wed., Nov. 20, 2024. This change follows the planned acquisition of R1 RCM by TowerBrook Capital Partners and Clayton, Dubilier & Rice, set to close on or around Nov. 19.
Durbin calls hearing on Credit Card Competition Act
Friday, November 15, 2024
The Democrats may have lost their slim majority in the U.S. Senate, but that hasn't kept Senator Dick Durbin, the Illinois Democrat who authored the Durbin Amendment to the 2010 Dodd-Frank Act, from one more attempt at advancing the Credit Card Competition Act. Sen. Durbin, who chairs the Senate Judiciary Committee, called for a hearing before the panel on Tues., Nov. 19, 2024, on what some have dubbed Durbin 2.0.
Fraud protection, resolution key to customer satisfaction
Wednesday, November 13, 2024
Fraud protection and resolution have become an unrelenting problem, as well as a critical component of customer satisfaction for financial institutions and credit card companies, a new J.D. Power survey revealed.
Recently, The Green Sheet touched base with Randy Modos, president and co-founder of PayJunction, to learn about how no-code payments help merchants meet the demand for expanded payment options. PayJunction's No-Code Payments Integration platform is an example the company's focus on redefining the payment processing industry through innovation, customer advocacy and transparent pricing. Following is the Q&A with insights Modos shared.
Jury awards $8 million to ISO snookered by unscrupulous lender
Friday, November 8, 2024
Score one for ISOs paralyzed by unscrupulous lenders. On Oct. 29, 2024, following a seven-week trial and nearly three years of litigation, a 12-person jury awarded $8 million to an ISO that was held "captive" by an unscrupulous lender.
Visa CEO Ryan McInerney said the card giant is standing firm on its position in the debit marketplace, rejecting a Department of Justice lawsuit that it has created a monopoly in the debit card marketplace.
Scams, check fraud continue to plague financial world
Tuesday, November 5, 2024
Financial services companies are facing unprecedented increases in fraud of all types. But perhaps most surprisingly, given the growth in payments digitization, is the growth being experienced with check fraud. A new study from Unit21 revealed that nearly a third of banks (30 percent) have seen dramatic increases in check fraud, on the order of 25 to 75 percent in the last 12 months.
Holiday pay later plans entice millennials, parents, self-gifters
Monday, November 4, 2024
As holiday shopping ramps up, consumers are increasingly turning to pay later options for both gift purchases and self-gifting, according to new research by Splitit and PYMNTS. Their study, The Use of Card-linked Installment Plans in Holiday Shopping, revealed that 38 percent of consumers plan to use pay later options for treating themselves this holiday season.
This week, we're highlighting two sets of predictions for 2025, one from a technology research and consulting firm and another from a payments industry CEO; a new collaboration between long-time Chinese rivals; and a Chinese platform seeking to do business with U.S. retailers.
