Banks Want Technophobes and Late Adopters to Use Digital Wallets. It Isn’t Easy.
Dalvin Brown, The Wall Street Journal
Paze faces an uphill battle to get people to use its online checkout button over Apple Pay and Google Pay
The biggest banks in America move the money behind almost everything you buy. They haven’t figured out how to get you to click a button to pay at checkout. The digital wallets that allow online shoppers to click to avoid manually typing in their credit card numbers are largely operated by technology giants like Apple Pay and Google Pay and PayPal…
Read moreZelle Loses Bid to Dismiss New York Fraud Lawsuit
Bridget Luckey, Law Commentary
Zelle must face a New York lawsuit accusing its operator of allowing widespread fraud while promoting the payment service as safe and secure, after a Manhattan judge rejected the company’s bid to dismiss the case.
New York Attorney General Letitia James sued Early Warning Services, which operates Zelle, in August 2025 following a state investigation into fraud on the payment network. New York says consumers lost more than $1 billion through fraud on Zelle between 2017 and 2023 and claims the company failed for years to adopt protections that could have reduced those losses…
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PayPal Leans into Financial Services
Lynne Marek, PaymentsDive
The company’s CEO said that buy now, pay later and other consumer finance offerings will pump up revenue, but some analysts have doubts.
Lores took over this year after CEO Alex Chriss fell short of growth expectations, just as his predecessor, Dan Schulman, had as well. PayPal has struggled to keep up growth, particularly at its core PayPal branded business, as younger rivals use newer technology to increase competition for merchant and consumer customers…
Read moreCBA, ABA Urge Federal Reserve to Strengthen Proposed Payment Account Safeguards
Liz Carey, Financial Regulation News
The Consumer Bankers Association (CBA) joined the American Bankers Association (ABA) today to urge the Federal Reserve to add additional safeguards to proposed Payment Account frameworks.
In a comment letter, the organizations said the Fed’s proposed Payment Account framework was a prudent approach to responsible innovation, but added that additional measures should be adopted to protect the safety and integrity of the U.S. payment system. The two associations said the proposal must be accompanied by strong risk management requirements, direct federal oversight and transparent application standards…
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