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Payments News


The Consumer Financial Protection Bureau (CFPB) issued a new circular affirming that companies offering “negative option” subscription services must comply with federal consumer financial protection law. Negative option programs include subscription services that automatically renew unless the consumer affirmatively cancels, and trial marketing programs that charge a reduced fee for an initial period and then automatically begin charging a higher fee.


Digital payments company PhonePe has raised USD 350 million from General Atlantic at a valuation of over USD 12 billion in a first tranche of a USD 1 billion funding round


US-based financial institution Citizens has partnered Mastercard as its exclusive payments network across its credit, debit, and commercial portfolios and its US services provider


Orrick and Buckley jointly announced the strategic combination, which responds to growing demand from the most innovative companies and financial institutions for forward-looking regulatory and enforcement advice.


A Universal Digital Payments Network (UDPN) for stablecoins and Central Bank Digital Currencies (CBDCs) was launched at the World Economic Forum (WEF) in Davos. The network aims to provide interoperability between these digital currencies.

  1. Mastercard scores exclusive deal for Citizens’ card portfolio
  2. livi bank launches QR payment option
  3. Tabby gets USD 58 mln funding
  4. BIS explores multilateral platforms for cross-border payments

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