Payments News

On The Web

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Systems

Bipartisan Senate Bill Would Punish Retailers for Refusing Cash Payments

“Sens. Bob Menendez, D-N.J., and Kevin Cramer, R-N.D., have introduced a bill prohibiting retailers from declining cash payments from customers, as businesses promote “contactless” digital payment as they grapple with the coronavirus pandemic .  Retailers and mall owners, including Nordstrom and Simon Malls, have encouraged the use of contactless transactions such as Apple Pay to […]
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Systems

Americans Are Rapidly Shrinking Their Credit Card Debt During the Pandemic

“Americans’ credit card debt is shrinking rapidly during the coronavirus recession. That’s a sharp contrast with the last two economic downturns. The amount of consumer revolving credit, which is mostly credit cards, plunged by another $24 billion in May, the Federal Reserve said Wednesday. This costly form of debt is down more than $100 billion […]
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Systems

IT Pros Indicted After Arranging Credit Card Payments for Weed Startup

“On March 9, 2020, a German IT consultant named Ruben Weigand had a layover in Los Angeles as he traveled from Switzerland to Costa Rica. He never made it to his destination because US authorities arrested him as he was changing planes. The feds say Weigand and a co-conspirator, Hamid “Ray” Akhavan, were the masterminds behind […]
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Systems

Our Cash-Free Future Is Getting Closer

“Fears over transmission of the disease have compelled consumers to rethink how they shop and pay. Retailers and restaurants are favoring clicks over cash to reduce exposure for employees. China’s central bank sterilized bank notes in regions affected by the virus. And governments from India to Kenya to Sweden, as well as the United Nations, […]

On The Wires

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Global

JCB Expands Its Merchant Network With 3C Payment in Spain

“JCB International, Co., Ltd. (JCBI), the international operations subsidiary of JCB Co., Ltd., Japan’s only international payment brand, and 3C Payment, a leading global payment solutions provider, today announce the activation of JCB payment acceptance in over 85 locations of a well-established Hotel Group in Spain. This partnership strengthens JCB’s coverage across Spain and further […]