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Apple Pay

Goodwin

2023 Year in Review: Fintech

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Welcome to the Fintech chapter of our annual report Consumer Financial Services 2023 Year in Review. Looking Ahead to 2024 - The CFPB is expected to finalize rulemaking authorizing supervision of payment application...more

Weber Gallagher Simpson Stapleton Fires &...

What to Know About Reporting Apple Pay, Venmo and Cash App Transactions

Weber Gallagher’s Family Law Group often reviews payments made through popular mobile apps, including Venmo and Apple Pay, in discovery and for support purposes. Clients who utilize one of the many mobile payment platforms...more

Goodwin

CFPB Analyzes Mobile Device Tap-To-Pay Market as Possible Precursor to New Regulation

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​​​​​​​On September 7, 2023, the Consumer Financial Protection Bureau (CFPB) published its analysis of how smartphone companies are affecting consumers’ use of so-called “tap-to-pay” technology – the wireless transfer of data...more

Weber Gallagher Simpson Stapleton Fires &...

Apple Pay, Venmo, and Cash App Must Now Be Reported to the IRS

Weber Gallagher’s Family Law Group often reviews payments made through popular mobile apps, including Venmo and Apple Pay, in discovery and for support purposes. Clients who utilize one of the many mobile payment platforms...more

Robinson+Cole Data Privacy + Security Insider

Crime-as-a-Service Targets Popular Platforms

It’s getting difficult to keep up with the jargon of all of the new digital scams. The SaaSes in the beginning became regular business terms, such as Software-as-a-Service (SaaS), and Business Processes-as-a-Service (BPaaS)....more

Goodwin

CFPB Prepaid Accounts Rule Challenged in Lawsuit by PayPal

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On December 11, 2019, PayPal, Inc. (PayPal) filed suit against the Consumer Financial Protection Bureau (CFPB) in the District of Columbia, challenging the CFPB’s Prepaid Accounts Under the Electronic Fund Transfer Act...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Anbang Insurance founder Wu Xiahoui’s fall from grace now includes an 18-year prison sentence for his conviction by a Shanghai court for using Anbang to “cheat investors out of more than $10 billion”....more

BCLP

Mobile Wallets and Tokenization: Banks are Catching On

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On April 20, 2017, the American Banker reported that U.S. Bank’s new high-end credit card features an interesting differentiator from the high-end cards recently introduced by other large credit card issuers. U.S. Bank’s new...more

Goulston & Storrs PC

Mobile Payments: Exciting but Unknown

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Mobile payment options are no longer the wave of the future. They are already here. It was projected that there would be almost 450 million mobile payment users worldwide by the end of 2016. These users generated $60 billion...more

Goulston & Storrs PC

Retailers Digitizing Daily Operations: From Mobile Payments to E-Receipts

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When asked last year to name one technology that we rely on today that would no longer be around in 10 years, Microsoft CEO Satya Nadella responded: “fountain pens.” Some may question Mr. Nadella’s prediction of the...more

Morrison & Foerster LLP

Members of Congress Recommend Changes to the CFPB’s Proposed Prepaid Account Rule

The comment period to the CFPB’s Notice of Proposed Rulemaking for Prepaid Accounts (the “Proposed Rule”) closed in March, but 43 Members of Congress (42 Republicans and 1 Democrat) recently sent a letter to Director Cordray...more

Goulston & Storrs PC

Apple Pay, Android Pay, Samsung Pay: Where’s Your Wallet?

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Last week Samsung launched its mobile payments app to compete with ApplePay and Android Pay, with much anticipation among technology bloggers. A few Technorati rushed to try the application so they could compare and contrast...more

Goodwin

FCC Takes a Bite Out of FNB’s Apple Pay User Agreement

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The Federal Communications Commission (FCC) recently issued a citation to First National Bank Corporation (FNB) under the Telephone Consumer Protection Act (TCPA), 47 U.S.C. § 227, for engaging in telemarketing practices with...more

Ballard Spahr LLP

FCC Issues Citations for Violations of TCPA Consent Requirement for Autodialed or Prerecorded Telemarketing Calls

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The Federal Communications Commission (FCC) recently issued citations to two companies charged with violating the Telephone Consumer Protection Act (TCPA) consent requirements for autodialed or prerecorded calls to wireless...more

Nossaman LLP

Payphones: It’s a Whole New World

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Someone must have once echoed those sentiments back in the 1890’s when payphones as we knew them were first introduced to the public. Now, as then, payphones were created as a convenience to be used in public places, mostly...more

Goulston & Storrs PC

Apple Pay and Google Wallet: Mobile Payment Going Mainstream

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When Apple announced on September 9, 2014 that the iPhone 6 would be equipped with a mobile payment system appropriately called Apple Pay, the entire mobile payment universe woke up. Although competitors had existed for...more

Goodwin

Practice Makes Perfect

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Amber Dolman and Robert Bishop came to Goodwin Procter in much the same way: Both started at the firm right out of law school, after having worked there as summer associates. While Bishop began in the REIT practice, he soon...more

BakerHostetler

Will Using “Apple Pay” Keep the Data Breach Away?

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Recently Apple unveiled its latest iPhones and other new products. While the big screens on the new iPhones are making the splashy headlines, perhaps the most interesting reveal, from a data privacy perspective, is not a...more

Goulston & Storrs PC

Release of the iPhone 6 — Is Apple Riding the Security Wave?

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Another month brings another reported massive data breach. On September 8, 2014, Home Depot confirmed that its payment data systems had been breached, potentially impacting customers using payment cards at the retailer’s US...more

Ballard Spahr LLP

The ABA Responds on Mobile Financial Services (Plus, Apple Inc.’s “Response”)

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In an interesting coincidence, the comment period for the CFPB’s Request for Information (“RFI”) on mobile financial services closed the same day, September 10th, that Apple announced “Apple Pay”—a new mobile wallet included...more

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