Payments News Today: November 6, 2026

On this page 7 sections

1. Block Reaches a $764 Million AML Deal in Principle With the DOJ
2. Global Payments Q3 2026 Results: A Bigger Worldpay Savings Target
3. The Credit Card Competition Act After the 2026 Election
4. ATM Operators Ask an Appeals Court to Revive Their Visa and Mastercard Case
5. Google Wallet Refunds and Receipts: What Google Is Planning
6. Revolve's Payment Card Breach Shows the Risk of Storing Cards on File
7. Payment Processing News to Watch After November 6

Key takeaways

• Block's $764 million DOJ agreement is still only an agreement in principle. Square sellers should keep their business, owner and bank records ready for possible extra verification checks.
• Global Payments raised its target for annual run-rate expense synergies from the Worldpay deal to $650 million by the end of 2028. If you process with Worldpay or Global Payments, save your statements now so you have a baseline when migration notices arrive.
• With its sponsors leaving, don't count on Congress for lower credit card fees soon. The fee relief you control comes from your own pricing.
• Revolve's breach involved card numbers saved to customer accounts. Keep cards on file as gateway tokens and protect customer logins against automated attacks.

Today's payment processing news for November 6, 2026 starts with Block, the parent of Square and Cash App. Block disclosed a preliminary $764 million deal with the Justice Department over its anti-money-laundering program. The Credit Card Competition Act lost one of its two Senate champions on Election Day. And online fashion retailer Revolve confirmed that hackers took card numbers customers had saved to their accounts. Below are six stories from November 2 to 6, what each one means for a store, restaurant or online shop, and what to do about it.

Block Reaches a $764 Million AML Deal in Principle With the DOJ

Block said in a regulatory filing on Tuesday, Nov. 3, that it reached an "agreement in principle" with the Department of Justice in October. The agreement would resolve charges that Block violated the Bank Secrecy Act by running a weak anti-money-laundering (AML) program, Payments Dive reported.

Under the proposed deferred prosecution agreement (DPA), the DOJ would hold off on a charge for three years and then move to dismiss it if Block meets the deal's obligations. The gross amount is about $964 million. Block expects to pay about $764 million after a $200 million credit for earlier regulatory settlements, and it has set that amount aside.

The company also said it cannot predict the final terms, and they could cost more.

The investigation dates to 2023, when a short-seller report from Hindenburg Research alleged that weak identity checks at Cash App let criminals use the platform, Bitcoin Magazine noted. Nothing in the filing changes Square's pricing or payout schedule. Still, a company that spends three years under a DPA has every reason to tighten know-your-customer (KYC) checks and transaction monitoring across its products. For a Square seller, that would most likely mean more identity verification requests and reviews of unusual activity. That is our reading of Block's incentives, not something Block has announced.

Your move: Log in to your Square dashboard and confirm that the legal business name, EIN, owner information and linked bank account match your paperwork exactly. Keep your EIN letter, owner IDs and a recent business bank statement in one folder so you can answer a verification request the same day. Records that don't match can hold up deposits at any processor. Our guide to what processors check on your business bank account lists the documents underwriters ask for most.

Global Payments Q3 2026 Results: A Bigger Worldpay Savings Target

Global Payments reported third-quarter results on Nov. 5:

• GAAP revenue of $3.31 billion
• Adjusted net revenue of $3.18 billion
• Adjusted earnings per share of $3.58, up 10%

CEO Cameron Bready said the quarter matched the company's expectations, and Global Payments reaffirmed its full-year outlook. For merchants, the bigger news is the Worldpay integration. Global Payments raised its target for annual run-rate expense synergies from $600 million to $650 million, to be reached by the end of 2028, according to the Q3 earnings call. The company now reports through three channels: SMB, Enterprise and Platforms.

"Expense synergies" means costs removed from the combined company. In payments, those savings usually come from running fewer platforms, back offices and support teams. If you process through Worldpay or Global Payments, expect consolidation notices over the next two years. They could cover account migrations, new statement layouts, new merchant portals or changes to how support works.

Your move: Download your last three monthly statements now and work out your effective rate, the one number for comparing processing costs. If a migration notice arrives, check it for changes to pricing, deposit timing and equipment. Then compare your first new statement against that baseline. A monthly deposit-to-sales reconciliation will catch missing or late deposits during a platform switch.

The Credit Card Competition Act After the 2026 Election

Sen. Roger Marshall, the Kansas Republican who co-led the Credit Card Competition Act (CCCA), lost his reelection bid on Nov. 3, Payments Dive reported on Nov. 5. His Democratic partner on the bill, Sen. Dick Durbin of Illinois, is retiring at the end of this term. When the new Congress starts next year, the bill will be without the two Senate sponsors who have carried it since they introduced it in 2022. The bill would require the largest credit card issuers to enable at least two unaffiliated networks on their cards, at least one of them other than Visa or Mastercard. The goal is to lower the fees merchants pay by making networks compete for routing.

Merchant groups are still pushing. Doug Kantor, general counsel for the National Association of Convenience Stores, told Payments Dive that losing Marshall's support was painful. He also said the bill's chances depend on whether lawmakers act before the current session ends, according to a Credit Union Daily summary. Payments Dive also noted that Congress's focus on affordability could shift attention to a separate proposal: capping the interest rates cardholders pay.

Your move: A lame-duck vote is still possible, but don't build your 2027 budget around network-choice rules lowering your credit card fees. The fee relief you control comes from your own pricing. Ask your current processor for an itemized breakdown and compare merchant processing quotes side by side. If you want a second opinion on your statement, request a free processing quote from MannyPay and a specialist will respond within one business day. For background on what the bill would and wouldn't change, read our Credit Card Competition Act explainer.

ATM Operators Ask an Appeals Court to Revive Their Visa and Mastercard Case

On Friday, Oct. 30, ATM operators filed a notice that they will ask the D.C. Circuit to revive their class action against Visa and Mastercard. The court had certified the case as a class action. It accuses the networks of an anticompetitive agreement that forced operators into higher network fees, Law360 reported on Nov. 2 (summary via Constantine Cannon). The notice came the same day U.S. District Judge Richard J. Leon unsealed his late-September decision. That ruling threw out the 15-year-old case on summary judgment, meaning without a trial.

Your move: If you own an ATM in a bar, convenience store or liquor store, nothing changes for now. Appeals take time, so watch for the D.C. Circuit's briefing schedule rather than expecting any near-term change in network fees.

Google Wallet Refunds and Receipts: What Google Is Planning

Stavan Parikh, Google's head of payments, told Payments Dive that Google wants its wallet to store receipts, track online orders, arrange refunds and deliver merchant discounts and promotions. Retail Dive added that Google is redesigning the wallet to show larger images and give brands more space. Parikh said a wallet should let users check a transaction's status, act on it and handle refunds.

Some of this already exists. In the U.S., Google Wallet pulls order details from a customer's Gmail for supported merchants, including receipts, tracking numbers and delivery status. For now, Google's help page says Wallet does not issue refunds and tells customers to contact the merchant directly. Refunds are still your job. But more customers will look for your order in their wallet before they look for your email.

Your move: Make sure your order confirmation emails show a clear order number, item names and tracking details, because that email is what Wallet reads. Check that your card statement descriptor uses the name customers know, not a parent company or an old LLC name. Customers who can't recognize a charge in their wallet are more likely to dispute it. Our walkthrough of how chargebacks work shows what a dispute costs you. To decide which wallets are worth turning on, see digital wallets for business.

Revolve's Payment Card Breach Shows the Risk of Storing Cards on File

Online fashion retailer Revolve told the SEC that an unauthorized party used "automated means" to take card numbers and expiration dates, along with names and contact details. The breach affected customers who had saved a card to their shopping account, The Record reported. The unauthorized access happened on Sept. 11, 2026, according to teiss, and Revolve is not offering affected customers free credit monitoring.

How many people were affected is still unclear. Notices filed with five state attorneys general cover at least 197,072 people, SecurityWeek reported. Malwarebytes found a figure of 1,515,073 in data returned by the Texas attorney general's breach website. Revolve has not confirmed a nationwide total or said how the attackers got in.

Saved cards bring repeat customers back, which is why apparel and boutique sites rely on them. The lesson is to keep the convenience without keeping the card numbers.

1. Store tokens, not card numbers. Ask your gateway whether saved cards are kept in its vault so that your system holds only a token, a stand-in code that's useless outside your account. If your own database holds full card numbers, you carry the breach risk and a much larger PCI DSS scope. Our payment gateways page covers the options MannyPay supports.
2. Defend customer logins against bots. Revolve described automated access. Rate limits, bot detection and a second login step before a saved card can be shipped to a new address all make that kind of attack harder.
3. Add authentication to risky orders. 3-D Secure authentication can challenge high-risk card-not-present orders before you ship.
4. Watch for card testing. Criminals test stolen card numbers with small online orders. A spike in tiny authorizations or declines is the warning sign. Our holiday credit card fraud checklist covers what to set up before peak season.

Payment Processing News to Watch After November 6

Block's final DOJ terms will show whether new compliance requirements reach Square sellers. The lame-duck session will show whether the CCCA can pass before Durbin leaves. And Revolve's final count will show how big the breach really is. If you store cards on file, don't wait for that number. Ask your gateway this week where your customers' card data actually lives.

Sources

1. Payments Dive: Block reaches $964M DOJ pact
2. AML Intelligence: Jack Dorsey-led Block faces $764m US settlement over AML failures
3. Bitcoin Magazine: Block (XYZ) Sets Aside $764 Million for DOJ Settlement
4. Global Payments: Global Payments Reports Third Quarter 2026 Results (press release, Nov. 5, 2026)
5. Global Payments Form 8-K, Exhibit 99.1 (Q3 2026 results)
6. The Motley Fool: Global Payments (GPN) Q3 2026 Earnings Call Transcript
7. Payments Dive: Will a 'blue wave' push the CCCA?
8. Credit Union Daily: What Now for the Credit Card Competition Act?
9. Constantine Cannon: Payments News Update, November 6, 2026 (summarizing Law360, Nov. 2, 2026)
10. Payments Dive: Google makes big plans for wallet
11. Retail Dive: Google makes big plans for wallet
12. Google Wallet Help: View and track your online orders in Google Wallet
13. The Record: Fashion retailer Revolve says hackers stole payment card information
14. teiss: Fashion retailer Revolve notifies more than 179,000 customers of breach affecting saved payment cards
15. SecurityWeek: Revolve Data Breach Impacts at Least 200,000 People
16. Malwarebytes: Revolve card breach: 1.5 million people may be affected

AR

About the author

Adrian Reyes

Adrian Reyes is Senior Payments & Fintech Editor for Beyond the Swipe, covering credit card processing, merchant accounts, payment technology and processing fees.

This article is for general educational purposes and is not legal, tax or financial advice. Card network rules and state laws change; confirm current requirements for your business.