Lynne Marek

Chicago

Lead Editor, Payments Dive | Chicago journalist following burgeoning payments arena--credit card companies, fintech, crypto. Cyclist. Wine lover.

Articles

Block agrees to pay $40M New York penalty

1 week ago | bankingdive.com | Lynne Marek

Payments technology company Block agreed to pay a $40 million civil monetary fine last Thursday as part of an agreement to resolve claims brought by the New York State Department of Financial Services over lax oversight of its financial services. In particular, the state cited Block’s Cash App peer-to-peer payments tool as not satisfying state requirements for anti-money laundering, Bank Secrecy Act and know-your-customer compliance programs, according to the NYDFS.
Shazam sheds merchant services to focus on debit

1 week ago | paymentsdive.com | Lynne Marek

Debit network company Shazam made a move this month to streamline its business by shedding its merchant services portfolio. NCMIC Finance acquired the merchant services business from Shazam as of April 4, according to a press release earlier this month. That will allow privately-held Shazam, based in Johnston, Iowa, to focus on its debit card rails just as that business is getting a lift from increased consumer use of debit cards.
Worldpay delivers payments industry insights in DC

1 week ago | paymentsdive.com | Lynne Marek

Worldpay executives held an informational meeting for policymakers and staffers this month on Capitol Hill to update them on the state of the payments industry, showing how it has changed over the past decade and to provide a future forecast. In particular, the presentation highlighted the growing use of non-card digital payments in a $58 trillion market by 2030.
Republicans pressure Fed on debit card fees

1 week ago | paymentsdive.com | Lynne Marek

Republicans on the House Financial Services Committee are seeking to reverse a late 2023 Federal Reserve decision that would cut fees that large financial institutions can charge merchants when consumers use debit cards to pay for goods and services. The 14 Republicans, including the committee’s chairman, Rep.
Block agrees to pay $40M New York penalty

1 week ago | paymentsdive.com | Lynne Marek

Payments technology company Block agreed to pay a $40 million civil monetary fine Thursday as part of an agreement to resolve claims brought by the New York State Department of Financial Services over lax oversight of its financial services.
PayPal, Block and others face recession risk: analysts

2 weeks ago | paymentsdive.com | Lynne Marek

PayPal, Bill Holdings and Block are among the payments companies most likely to be negatively impacted if President Donald Trump’s tariff war triggers a recession and curbs consumer spending, analysts said in recent reports. As prices for imported goods rise, consumers typically spend less, generating less income for payments players that derive revenue from processing transactions, Morningstar analyst Brett Horn said in a report Monday.
DailyPay sues New York Attorney General, denying its payments are loans

2 weeks ago | hrdive.com | Lynne Marek

Earned wage access provider DailyPay went on the offensive Monday with a lawsuit against the New York attorney general’s office, after a planned action by the state. The company, which provides payments to workers ahead of their regularly scheduled paydays, denied that those payments are loans, despite assertions to the contrary by the New York attorney general’s office, according to the lawsuit.
DailyPay sues New York Attorney General

2 weeks ago | paymentsdive.com | Lynne Marek

Earned wage access provider DailyPay went on the offensive Monday with a lawsuit against the New York attorney general’s office, after a planned action by the state. The company, which provides payments to workers ahead of their regularly scheduled paydays, denied that those payments are loans, despite assertions to the contrary by the New York attorney general’s office, according to the lawsuit.
US businesses cling to paper checks

2 weeks ago | paymentsdive.com | Lynne Marek

Big and small companies alike rely on paper checks to do business and may continue to do so for years despite the federal government’s move to phase them out by September. President Donald Trump signed an executive order late last month calling on federal agencies to shift to electronic payments for taxpayers’ refunds, Social Security benefits and vendor payments, among other disbursements.
Durbin rounds up CCCA support

2 weeks ago | paymentsdive.com | Lynne Marek