PayPal Waives Fees and Defers Loan Payments to Help Small Business Customers

PayPal

PayPal announced a set of relief measures to help its more than 24 million merchants around the world impacted by the coronavirus (COVID-19) emergency. The company is waiving certain fees and will be deferring repayments on business loans for some of its most affected small business customers. “Small businesses are the lifeblood of our national […]

Square Receives Conditional Approval For FDIC Deposit Insurance

Square FDIC Deposit Insurance

The Federal Deposit Insurance Corporation (FDIC) Board has voted to conditionally approve Square’s application for deposit insurance related to its Industrial Loan Company (ILC) bank charter. Square has also received charter approval from the Utah Department of Financial Institutions. The bank, Square Financial Services, is expected to launch in 2021. It will operate independently as […]

Visa Overhaul to Interchange Rates Will Raise Online Merchant Rates

Visa CNP fee increase

Visa is planning changes to its interchange rates, also commonly known as swipe fees, that will likely result in higher transaction costs for most online commerce. A document Visa circulated to banks outlining the change and seen by Bloomberg will vary depending on how a consumer purchases goods or services. Some service sectors, such as […]

Indiana Man Indicted for Using PayPal and eBay to Gain $2 Million by Fraud

Indiana man indicted of fraud using eBay and PayPal

The United States Attorney’s Office of the Southern District of Indiana announced that Tuong Quoc Ho, 32, Carmel, Indiana, was indicted on Friday by a federal grand jury for an elaborate scheme to defraud businesses, consumers, suppliers, financial institutions, credit card holders, credit card companies, and identity theft victims for personal monetary gain. The indictment […]

Shopify Joins Facebook Backed Digital Currency Project Libra

Shopify Libra

Shopify announced today it is joining the Facebook championed digital currency Libra Association as it seeks “…to build a payment network that makes money easier to access and supports merchants and consumers everywhere.” The Libra association was formed with a big splash in mid-2019 and counted among its members a slew of online giants in […]

Square For Retail Now Available on Square Register

Square for Retail

Retailers can now leverage retail-specific software, premium hardware, and integrated payments, all in one comprehensive solution from Square. The company announced the availability of Square for Retail on Square Register, enabling the point-of-sale solution optimized for retailers to run on Square’s end-to-end, integrated POS built for larger sellers. This new offering provides access to everything […]

Coinbase Commerce Merchants Can Now Accept Stablecoin DAI

Coinbase Commerce accepts DAI

Coinbase Commerce announced that merchants can now accept the stablecoin DAI cryptocurrency as a form of payment by linking their online storefront to a Coinbase Commerce checkout, or in-person using the point-of-sale interface (both are accessible through the merchant dashboard). For existing Coinbase Commerce merchants, DAI will automatically show up in their checkouts if they […]

PayPal’s Pay with Rewards Program Just Got Much Bigger

PayPal Pay with Rewards / FIS

FIS and PayPal are extending their partnership to enable millions of cardholders of U.S. financial institutions to participate in PayPal’s Pay with Rewards. Beginning in the second half of 2020, cardholders of thousands of financial institutions participating in FIS’ Premium Payback loyalty network will be able to use their eligible card loyalty points to pay […]