Top-5 payment news of the week: Adyen + Plaid, debit card fees cap, and more
Good morning Payments Professionals! Here is the list of top payment news from the past week.
Adyen Team up with Plaid
Adyen and Plaid are partnering to launch Pay-by-Bank services in North America in early 2024. The collaboration will unlock an unparalleled Pay-by-Bank experience for businesses and end-consumers alike.
Pay-by-Bank provides an optimized answer to businesses' needs for seamless solutions for customers and cost-efficiency in their back-end operations.
Pay-by-Bank joins the growing list of more than 150 different payment methods offered by Adyen.
The payment industry is responding to the federal debit card fee cap
The Federal Reserve Board has proposed to lower a cap on the interchange fee that debit card issuers can charge merchants to process a transaction.
Mastercard CEO expressed concerns regarding the regulatory move, stating that price caps are driving market distortion.
Global Payments, Fiserv, and Fidelity National Information Services were mentioned as potential beneficiaries in a recent note from Baird Equity Research analysts.
Read more in the great review by Payments Dive.
BillingPlatform Announces Strategic Alliance with J.P. Morgan Payments
BillingPlatform has announced a strategic partnership with J.P. Morgan Payments
The integrated solution aims to expand billing capabilities and meet increasing market needs, enabling flexible billing configurations, workflow automation, and strategic integrations to achieve end-to-end processing.
The partnership provides J.P. Morgan with a configurable solution that fits into their broader revenue lifecycle ecosystem to help meet their complex billing needs
Stripe and JCB expand access to Japan’s growing ecommerce market
Stripe has expanded its support for JCB, a leading card network in Japan.
JCB is now available on Stripe in 39 countries and territories, which makes it easier for businesses in those markets to accept payments from 154 million JCB cardholders.
The partnership makes it easier for businesses worldwide to reach customers in Japan, which is the fourth-largest ecommerce market in the world.
Apple is under more pressure for its in-app purchase policies
Dutch regulator rules that Apple is charging excessive commissions for subscription-based apps.
South Korea plans to fine Apple up to $15 million for forcing Korean app developers to use its in-app payment system.
The Australian government plans to introduce legislation to regulate digital payment platforms like Apple Pay and Google Pay.
Read more in another great overview by Payments Dive.