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Industry News

Industry News

February 21, 2024

Br-dge and PayPal Collaborate to Enhance the Consumer Payment Experience

Br-dge, a payment-orchestration provider, has started offering its merchants the ability to add PayPal to their online checkout options. Using Br-dge Connect, merchants in the US will be able to access PayPal’s stack of payment methods and features, including PayPal Pay Later and Venmo. They will also have access to PayPal Braintree, which gives consumers the ability to pay how they want with participating ecommerce retailers.

Industry News

February 20, 2024

US Supreme Court Considers Bid to Challenge Rule Regarding Debit Card Interchange Fees

US Supreme Court justices are considering a North Dakota convenience store's challenge to a government regulation on debit card interchange fees that went into effect in 2011. The regulation capped interchange fees, which had previously run as high as 44¢ per transaction, at 21¢. Retailers at the time thought the cap should have been lower, and brought a lawsuit to that effect in 2015. The Supreme Court upheld the status quo. The current challenge was filed by Corner Post in 2021. It was thrown out by lower courts, ruling that a six-year statute of limitations applied. Corner Post is arguing that it should not be bound by the statute of limitations because it opened for business in 2018, meaning its legal injury arose only after the deadline had passed. Last year the Fed proposed cutting the cap to 14.4¢ per transaction, but nothing has been finalized.

Industry News

February 19, 2024

Capital One to Acquire Discover

Capital One will acquire Discover in an all-stock transaction valued at $35.3 billion. Discover shareholders will get 1.0192 Capital One shares for each Discover share, representing a premium of 26.6%. Capital One shareholders will own approximately 60% of the combined company and Discover shareholders will own approximately 40%. When combined, the new company will rank as the largest US credit card issuer based on outstanding receivables.

Industry News

February 15, 2024

UATP Receives Patent Approval for New Payment Technology

UATP, a global payment network serving mostly travel industry merchants, has received approval from the US Patent and Trademark Office for Enhanced Intermediate Server technology. Merchants using UATP's One platform can submit travel-agency transactions individually instead of in batch form. Batch processing can be slowed down by one file or by an incomplete passenger record. The patent for the parsing engine is the second patent awarded to UATP since 2021.

Industry News

February 15, 2024

Bank of America and Starbucks Launch Loyalty Partnership

Bank of America cardholders and Starbucks Rewards members can link eligible accounts to earn 2% cash back from Bank of America and one Star per $2 spent at Starbucks. BofA's rewards are in addition to any rewards or card benefits a cardholder already earns. Stars can be redeemed at Starbucks for free drinks, food, merchandise and whole bean coffee. Benefits are available when making Starbucks in-app purchases with a linked Bank of America debit or credit card.

Industry News

February 14, 2024

FIS Widens Access to Open Banking Through Collaboration With Banked

FIS and Banked have formed a partnership to use open banking, APIs and real-time payments services to create new pay-by-bank services for businesses and consumers. FIS is targeting industries like insurance, higher education, utilities and governmental agencies. Banked allows consumers to use their bank to make payments directly without entering any financial data.

Industry News

February 14, 2024

India Cenbank asks Visa, Mastercard to stop B2B Payments via Fintech Platforms

India's central bank has asked Visa and Mastercard to stop card-based business-to-business payments such as rents or money transfer to vendors routed through third party fintech firms, according to two sources familiar with the matter. The central bank has not specified why they have placed these restrictions, and only a small set of payments — those routed via fintech firms — will be impacted, said one of the sources.

Industry News

February 14, 2024

ACH Network Records Strong Growth in 2023 as Same Day ACH Surpasses 3 Billion Payments

Led by strong growth in Same Day ACH and B2B payments, the ACH Network handled 31.5 billion payments valued at $80.1 trillion in 2023. Transactions for the year was up 4.8% from 2022, while payment value grew 4.4%.

Industry News

February 13, 2024

Blackhawk Network Partners with Roblox to Expand Launch of Digital Gift Cards

Blackhawk Network, a branded payments provider, has partnered with Roblox to offer Austrian (EUR), Belgian (EUR), Swiss Franc (CFH), and Brazilian Real (BRL) denominated digital prepaid cards on Roblox’s site, Roblox.com/giftcards. Roblox had 71.5 million active daily users in the fourth quarter of 2023, . Prepaid cards buy Robux, a virtual currency that can be used to purchase digital items and accessories.

Industry News

February 12, 2024

BofA Clients Had a Record 23.4 Billion Digital Interactions in 2023

Bank of America clients received more than 10.6 billion proactive digital alerts in 2023, up 12% YOY. Most common were alerts about account balances, deposit available balances, and virtual debit card usage. Clients logged into their accounts 12.8 billion times including a record 3.3 billion logins in Q4, up 10%. The number of active digital clients, meaning those who have used digital in the last 90 days, reached a record 46 million, up more than 2.2 million year over year.

Industry News

February 12, 2024

BofA Clients Had a Record 23.4 Billion Digital Interactions in 2023

Bank of America clients received more than 10.6 billion proactive digital alerts in 2023, up 12% YOY. Most common were alerts about account balances, deposit available balances, and virtual debit card usage. Clients logged into their accounts 12.8 billion times including a record 3.3 billion logins in Q4, up 10%. The number of active digital clients, meaning those who have used digital in the last 90 days, reached a record 46 million, up more than 2.2 million year over year.

Industry News

February 8, 2024

Lightspeed Announces Third Quarter 2024 Financial Results

Total revenue of $239.7 million grew 27% year-over-year. Net loss and Adjusted EBITDA improved to ($40.2) million and $3.6 million, respectively. Transaction-based revenue of $147.8 million was up 38% year-over-year.

Industry News

February 8, 2024

Cantaloupe, Inc. Reports Second Quarter Fiscal Year 2024 Financial Results

Second quarter 2024 revenue of $65.4 million increased 7% YOY, driven by 15% rise in subscription and transaction fees. Total dollar volumes of transactions were $730.1 million, an increase of 12% YOY. Transactions totaled 286.7 million at the end of the second quarter of 2024

Industry News

February 8, 2024

Swivel to Improve Transaction Enablement

Swivel, which has 800+ clients and processes $3.5 billion a year in card transactions, will use J.P. Morgan Payments as a payment facilitator to improve its direct card processing for ISOs .

Industry News

February 7, 2024

Fleetcor Reports Fourth Quarter and Full Year 2023 Financial Results

Revenue grew 10% and EBITDA grew of 13% in 2023. In the fourth quarter of 2024, revenue increased 6% to $937.3 million, and net income increased 14% to $255.9 million.

Industry News

February 7, 2024

Entrust Enters Discussions to Acquire AI/ML-Powered Identity Verification Company Onfido

Entrust, a provider of trusted payments, identities, and data security, has entered into exclusive discussions to acquire London-based Onfido, a provider of cloud-based, AI-powered identity verification technology. The acquisition will allow Entrust to advance the use of biometric-based, highly phishing-resistant authentication in high-value transactions and signing events.

Industry News

February 7, 2024

Brex Named Official Corporate Card and Spend Management Partner for Boston Celtics

Brex, a provider of AI-powered spend platform for business credit cards and cash management accounts, has been designated as the Official Corporate Card and Spend Management Partner of the Boston Celtics basketball team. Brex claims that its technology helps enterprises save up to 4,250 hours a year through expense and accounting automation, plus $18M annually by blocking out-of-policy spend.

Industry News

February 7, 2024

Sabre and Revolut Bring Virtual Payments to Travel Agencies through virtual payments

Sabre, a software and technology provider to the global travel industry, can generate virtual cards issued by Revolut from within the Sabre Virtual Payments platform. Travel agencies can use the cards to pay airlines, hotels and other travel suppliers. The companies have onboarded more than 40 companies in less than a year.

Industry News

February 7, 2024

Cross River and Aeropay Partner for Instant Payouts from Gaming

Cross River Bank, a provider of embedded financial services, has partnered with Aeropay, a provider of bank-to-bank transfers via the ACH. The partnership will add instant payouts to Aeropay's offerings. Cross River is an early participant in the RTP network built by The Clearing House. Companies will access the offer via an API integration that also provides real-time transaction monitoring.

Industry News

February 7, 2024

Bestpass Announces New Integration with Geotab

Bestpass, providers of a payment platform and toll-management services for commercial fleets, will be able to give its customers access to toll data and reporting tools through an integration with Geotab, a provider of connected transportation services. Geotab has 50,000+ customers in 160 countries using its vehicle and asset tracking capabilities.

Industry News

February 7, 2024

Toast Restaurant Technology Selected by Choice Hotels as Brand Standard for Two Upscale Brands

Toast, a digital technology platform built for restaurants, will integrate its Toast for Hotel Restaurants platform into the property-management systems used by two brands owned by Choice Hotels International — Cambria Hotels and Radisson. Both will implement Toast Go 2 handhelds for server and bartender use, mobile order and pay at restaurant tables, online ordering for in-room dining, kiosks and more.

Industry News

February 7, 2024

Trustly Integrates MX Data

Trustly's Open Banking product suite has integrated data-enhancement services from MX Technologies to help merchants with decision making, personalized offers and rewards. Trustly has over 8,300 global merchants using its Pay with Bank services. MX adds the ability to cleanse and categorize consumer-permissioned transaction data so that merchants can better understand consumer needs and preferences when creating marketing offers and loyalty programs.

Industry News

February 6, 2024

Jack Henry & Associates, Inc. Reports Second Quarter Fiscal 2024 Results

Second quarter results include an 8% increase in GAAP revenue and a 10.8% increase in GAAP operating income. Year-end results include and increase of 8% for GAAP revenue and a 1.4% increase in GAAP operating income.

Industry News

February 6, 2024

Paystack Expands “Pay With Apple Pay” to Cote D’Ivoire and South Africa

Paystack has introduced the “Pay With Apple Pay” payment option in Cote D’Ivoire and South Africa, allowing users to make payments in iOS apps and on the web via Safari. Previously introduced in Nigeria, Ghana and Kenya, Paystack's service allows merchants to accept payments from users in the US, UK, Canada, and some other African countries that support Apple Pay. Users who have enabled Apple Pay and are paying with a card issued outside of the country will see the option to checkout using Apple Pay and complete the transaction with Touch ID or Face ID. Paystack is owned by Stripe.

Industry News

February 6, 2024

ChargeAfter’s Lending Hub Selected for Citi Retail Services’ Citi Pay

ChargeAfter, an embedded lending platform for POS financing, has been selected by Citi Retail Services as a technology provider for its Citi Pay products — Citi Pay Credit and Citi Pay Installment Loan. The collaboration gives online merchants the ability to integrate ChargeAfter into their point-of-sale experience.

Industry News

February 6, 2024

ConnexPay Announces New Payments Category, ConnexPay Exclusives

ConnexPay, an all-in-one platform for managing payins and payouts, has launched ConnexPay Exclusives, a suite of payment capabilities designed to lower the total cost of payments. The first of four components is ConnexPay’s Global Travel card — a, negotiated-rate virtual card designed to improve economics for travel companies worldwide, in part by reducing or eliminating cross-border and FX fees.

Industry News

February 6, 2024

Fyle Integrates with American Express

Fyle, an expense-management platform that works with customers' existing credit cards, has integrated with American Express to offer US Business and Corporate cardmembers the ability to issue on-demand virtual Cards via the Fyle platform. To achieve this integration, Fyle is participating in the American Express Sync Commercial Partner Program.

Industry News

February 6, 2024

Nepal Clearing House Taps ACI Worldwide to Pioneer Card Payment Central Infrastructure

ACI's Enterprise Payments Platform has been chosen by Nepal Clearing House, a public limited company under the leadership of Nepal Rastra Bank (the Central Bank of Nepal), to establish and operate a National Payment Switch. ACI will also help roll out a domestic-only card brand called Nepal Pay. Currently, domestic card transactions are routed through international payment gateways.

Industry News

February 6, 2024

Sprinque Partners with Mangopay for Payments at B2B Marketplaces

Sprinque, a B2B payments platform, has partnered with Mangopay, a payments provider for marketplaces and platforms. Sprinque handles risk and fraud management while letting sellers offer flexible net payment terms to international buyers. Mangopay supports multiple business models in the platform economy with a modular payment infrastructure that includes a programmable e-wallet and end-to-end processing.

Industry News

February 5, 2024

Ant International and Yapily Launch Europe’s First Variable Recurring Payments for eCommerce

Ant International, a global provider of digital payments and financial services, is expanding its existing partnership with Yapily, a European open banking platform. The partnership will introduce Europe’s first commercial variable recurring payments for ecommerce via Open Banking on mobile payment platforms. It will debut on HungryPanda, a food delivery platform in Asia.

Industry News

February 5, 2024

Mastercard and Last Mile Solutions Launch a Universal Payment-Terminal Service for EV Charging in Europe

Mastercard has partnered with Last Mile Solutions to establish new payment standards for the Electric Vehicle (EV) charging industry. The partnership will introduce a payment gateway for charge point operators (CPOs) that allows them to seamlessly integrate with a variety of payment terminal brands. The program will be will be rolled out across Europe this year to enable to enable CPOs to comply with the EU AFIR regulation that will come into force in April 2024.

Industry News

February 5, 2024

Airwallex and McLaren Racing Enter Multi-Year Partnership

Airwallex, a global payments and financial platform, will provide software to the McLaren Formula 1 team for supply chain payments. Previously McLaren used a singular currency account based in the UK that required foreign exchange charges when paying providers outside of the country. Airwallex branding will appear on McLaren's livery, driver overalls and other branded material.

Industry News

February 3, 2024

Thousands of Accounts at India’s Paytm Payments Bank Set Up Improperly, Sources Say

India's central bank has found hundreds of thousands of accounts at Paytm Payments Bank created without proper identification, and has passed the information on to the country's financial crime fighting agency, according to three sources familiar with the matter. The Reserve Bank of India (RBI) is concerned that some of the accounts could have been used for money laundering, the sources said. The RBI has ordered Paytm Payments Bank to wind down most of its businesses, including deposits, credit products and its popular wallet by Feb. 29, citing "persistent non-compliances and continued material supervisory concerns in the bank."

Industry News

February 1, 2024

Deluxe Reports Fourth Quarter and Full Year 2023 Results

Reported revenue decreased 2.0% including impact from divestitures, while comparable adjusted revenue increased $6 million or 0.3%. Full year net income was $26.2 million, down from $65.5 million in 2022, on increased interest expense and restructuring activity.

Industry News

February 1, 2024

Worldpay Begins Operating as Independent Company

Worldpay, the second largest merchant acquirer worldwide, is now operating as an independent company owned 55% by private equity firm GTCR. FIS sold that stake and retains 45% of the equity in Worldpay. Charles Drucker, a former CEO at Worldpay, has resumed that role.

Industry News

February 1, 2024

Nuvei Partners with Cash App Pay

Nuvei, the 26th largest merchant acquirer in the US, has partnered with Cash App, a payment method that lets US customers make online payments either by scanning a QR code or by tapping Cash App Pay during checkout. Nuvei's partners in the US can add Cash App Pay to their existing integration. Cash App Pay’s customers can use their Cash App balance or a linked debit card.

Industry News

February 1, 2024

Visa and Fibank Unveil Cards With Paris 2024 Olympic and Paralympic Themes

Fibank (First Investment Bank) based in Bulgaria, will issue Visa brand debit and credit cards with the official design of the upcoming Olympic and Paralympic Games Paris 2024. The debit card will feature the Eiffel Tower. The gold credit card will depict the Arc de Triomph.

Industry News

February 1, 2024

Adyen Partners With Bill to Provide Advanced Card Issuing Capabilities

Adyen, a global financial technology platform, is providing card issuing and related support services to Bill for that company’s virtual card product tied to its accounts payable and accounts receivables services. as part of Bill Accounts Payable and Accounts Receivable services. Bill's market is small and midsize businesses.

Industry News

February 1, 2024

AppTech Drives Licensing Revenues as Patent Licensee PayToMe.co Integrates with Plaid

PayToMe.co, a digital payments platforms that is a licensee of fintech AppTech Payments, has integrated Plaid's technology into their platform. The integration adds access to secure financial data and wider network coverage, and intuitive user interface. AppTech is a 7.5% stakeholder in PayToMe.co.

Industry News

February 1, 2024

Praxis Tech Launches New 3DS Cascading Module for Payments

Praxis Tech, a payment technology firm, has launched its 3DS Cascading feature to make online payments quicker while maintaining Strong Customer Authentication requirements. 3DS Cascadingbuilds on builds on Praxis' Smart Routing technology, which selects the optimal payment route for each transaction, while bypassing the need for customers to re-verify their identity.

Industry News

January 31, 2024

JCB Offers 10% Cashback When Taiwanese Cardmembers Make Purchases in the US

JCB International Credit Card Co., the US subsidiary of Japan's international payment brand, JCB Co., is offering 10% cashback for JCB cardmembers in Taiwan making purchases in the US. The promotion runs from February 1 through March 31, and applies to cumulative in-store purchases totaling $100 or more.

Industry News

January 31, 2024

CardFlight Adds a Mobile Option for SimpleSwipe Invoice Management

CardFlight has expanded its SwipeSimple product to include a mobile app for creating and sending invoices, a feature that was previously available only from the company's website. Over 125,000 small businesses use SimpleSwipe, which also allows them to accept payments via phone, tablet or computer.

Industry News

January 31, 2024

Paystand Brings Rapid, Free B2B Payments Platform to Acumatica Cloud ERP

Paystand, a B2B blockchain-enabled payment platform that does not charge fees, will be used by Acumatica, a cloud-based ERP system for business management. The platform, which operates as a Payments-as-a-Service model, includes finance, inventory, CRM and payroll. Acumatica users represent companies involved in construction, distribution and retail. AR staff can utilize full reconciliation automation and fee-less bank-to-bank payment options that eliminate card fees.

Industry News

January 31, 2024

PXP Financial Becomes a Google Pay Payment Service Provider

PXP Financial, a global provider of acquiring, payment, fraud and data-analysis services, has become a Google Pay Payment Service Provider. The move means PXP Financial can manage a Google Pay integration in both web and native applications. It can also securely process transactions by decrypting the payment data and authorizing with an acquirer directly.

Industry News

January 31, 2024

Factor4 Announces Gift Card Integration with LMS-POS

Factor4, a provider of prepaid cards and loyalty programs, has integrated its prepaid card with LMS-POS, a POS system for both liquor and retail stores that includes a lottery management system. LMS-POS also includes inventory management and can scan IDs for legal age and expiration dates.

Industry News

January 31, 2024

Verizon Business Launches Field Management Tablet Plus Powered by Jobber and Verizon

Verizon Business has teamed with Jobber, a provider of operations management software for home service businesses, to create Field Management Tablet Plus for small and midsize companies. The Verizon-connected tablet comes with preloaded Jobber software, which handles scheduling, invoicing and payments.

Industry News

January 31, 2024

PayRange Settles Patent Dispute with KioSoft

PayRange, the inventor and service provider of a mobile payment app and hardware for automated retail, has settled a four-year patent dispute with KioSoft Technologies and its affiliate, TechTrex. At issue were patents held by PayRange that enable consumers to pay self-service retail machines such as laundry and vending machines. KioSoft has agreed to pay PayRange up to $62 million over a ten-year period with a base license of $40 million.

Industry News

January 30, 2024

Co-op Pay Network Surpasses 200 Credit Unions Milestone

PSCU/Co-op Solutions, a payments provider for Credit Union Service Organization, now has over 200 credit union members in its Co-op Pay Network, introduced less than than one year ago. Pay Network is an unaffiliated debit POS network that is owned by its issuers.

Industry News

January 30, 2024

Nexi Strengthens Its Commitment to Decarboization

Nexi, the 8th largest merchant acquirer worldwide, has announced that its group-wide CO2 reduction goals have been approved by the Science Based Target initiative, a partnership between CDP (formerly the Carbon Disclosure Project), the United Nations Global Compact, the World Resources Institute and the Worldwide Fund for Nature. It urges companies worldwide to half their emissions by 2030 and achieve net zero emissions by 2050.

Industry News

January 30, 2024

EMVCo Publishes 2023 Annual Report

Global technical body EMVCo, which enables card-based payments to work securely worldwide, has published its 2023 Annual Report. It highlights emerging use-cases including EV charging payments, payment acceptance on mobile devices and biometric payment cards. Click here to download the report.

Industry News

January 30, 2024

College Ave Launches the Ambition Mastercard to Help Students Build Credit Histories

College Ave, a financial services company, has launched a secured credit card for college students called Ambition Mastercard. Students 18 years of age and older can apply. They transfer money to the card from their existing checking or savings account to establish their credit limit. There is no credit check to qualify, no fees to apply, no late fees, no interest charges, and no monthly fees for the first six months. After the first six months, a $2 monthly charge will be applied. The card is issued by Evolve B&T.

Industry News

January 30, 2024

Co-op Pay Network Surpasses 200 Credit Unions Milestone

PSCU/Co-op Solutions, now has over 200 credit union members in its Co-op Pay Network, introduced less than one year ago. Pay Network is an unaffiliated debit POS network that is owned by its issuer members.

Industry News

January 30, 2024

Wisecard Technology Joins the Multis Consortium

The Multos Consortium, a group of international organizations responsible promoting and developing the Multos high security smart card platform, have added Wisecard Technology as a partner member. Wisecard provides bank payment systems, card issuance and payment terminals along with AI and IoT systems. It will gain access marketing, technical and networking resources managed by the consortium, which is made up of 30 companies within the secure smart device industry.

Industry News

January 30, 2024

ePayPolicy Partners with Cogitate Expand Premium Payment Options for Policyholders

ePayPolicy has partnered with Cogitate Technology Solutions to offer policyholders a wider range of payment options. ePayPolicy provides ACH and credit card premium payment processing for insurers. Cogitate's DigitalEdge insurance platforms connect insurers with policyholders and agents/brokers.

Industry News

January 30, 2024

Mastercard and BOK Financial Expand Payments Agreement

Mastercard and BOK Financial have expanded their partnership, making Mastercard the exclusive payments network for BOK Financials’ debit and commercial card portfolios. The agreement also extends Mastercard's relationship with BOK Financials' TransFund processing business

Industry News

January 30, 2024

Synchrony and PatientNow Partnership for the Cosmetic Industry

Synchrony, the 10th largest issuer of US general purpose credit cards, has partnered with PatientNow to handle payments across cosmetic practices and the medical spa industry. PatientNow's cloud-based practice-management technology, which focuses on elective medial treatments, will integrate with Synchrony's CareCredit health and wellness credit card. The partnership will also integrate a Quickscreen application to tell doctors which patients will be preapproved for financing, which patients already have a CareCredit account, and their available credit, before the patient's appointment.

Industry News

January 29, 2024

Dillard’s, Citi and Mastercard Announce New Credit Card Agreements

Dillard’s, Citi and Mastercard will team up to provide a credit card program for Dillard’s customers. Citi will purchase the existing Dillard’s credit card accounts and Mastercard will serve as the exclusive payment network for the new version of Dillard's existing co-branded cards. There will also be a private label credit card. Citi will provide customer service and support for some marketing and loyalty programs.

Industry News

January 29, 2024

Amazon to Offer Buy Now, Pay Later in Mexico via Fintech Kueski

Amazon.com is partnering with Mexico-based fintech Kueski to offer bi-weekly installment payments in Latin America’s second-largest economy. Kueski focuses on BNPL and personal loans. The partnership marks the first time Amazon Mexico will allow users without a credit card to pay for purchases with up to 12 bi-weekly installments. Kueski will provide the financing and allocate credit limits.

Industry News

January 25, 2024

i2c Partners with The Bank of Missouri to Help Fintechs Launch Digital Banking Products

i2c Inc., a provider of core banking and payments services, has formed a five-year partnership with The Bank of Missouri, a community bank with a focus on digital banking. The bank wants to help fintechs speed up the process of offering digital financial products to both consumers and businesses. I2c's platform has a customizable suite of financial services that includes checking and savings accounts, consumer and small business loans, credit card, reward programs, and virtual cards.

Industry News

January 25, 2024

The Electronic Transactions Association Unveils Public Policy Priorities for 2024

The Electronic Transactions Association has released its policy priorities for 2024 involving involving the US and Canada. The policy agenda covers positions on artificial intelligence, digital assets, open banking and privacy.

Industry News

January 25, 2024

Bluevine Adds Allpoint ATM Network to Expand Branchless Banking

Bluevine, a digital banking platform designed for small businesses, has partnered with Allpoint for cash-deposit access at 1,500 ATMs. Added to previous retail locations through Green Dot, Bluevine can now give its small business customers access to a network of over 91,500 ATM and retail locations nationwide for cash deposits. Customers can withdraw cash from 37,000 in-network MoneyPass ATMs.

Industry News

January 24, 2024

Solutions by Text Partners With Lightico

Solutions by Text's messaging service has been embedded into Lightico's platform to deliver real-time messaging to auto finance organizations. Real-time messaging can be used to communicate with customers via text, collect loan documents over multimedia messaging service (MMS) instead of via emails and web uploads, and send timely alerts. The partnership guarantees strict adherence to industry regulations.

Industry News

January 24, 2024

Instant Financial Handled Over $1B in Employee Payments

Instant Financial, a provider of earned-wage-access and payment-card services, handled over $1billion in employee payments and processed over 52 million employee transactions in 2023.

Industry News

January 24, 2024

Mastercard and The Clearing House Extend Partnership on Real-Time Payments

Mastercard and The Clearing House (TCH) have extended their multi-year partnership with plans to collaborate on getting consumers, businesses and governments to adopt real-time payments on TCH's RTP network. Mastercard is the network's exclusive provider of software for instant payments. The RTP network was launched in 2017, giving consumers 24/7 access to payment delivery.

Industry News

January 23, 2024

Corpay Unveils End-to-End Spend Management Solution, Corpay Complete

Corpay, the largest B2B commercial Mastercard issuer in North America, has launched Corpay Complete, a mobile spend-management platform for corporate payments and spending. It integrates corporate cards and expense reimbursements with accounts-payable automation and supplier payments. Corpay is a Fleetcor brand that processes over one billion payment transactions annually across multiple forms, including checks, automated clearing house, virtual cards and physical cards.

Industry News

January 23, 2024

Citi Launches Browser Extension for Shoppers

Citi's new Citi Shop is a desktop browser extension for eligible Citi credit cardholders in the US. It searches the internet for offers and coupons from 5,000+ online merchants selling products from nearly 30 categories. Credits appear on statements for enrolled Citi credit cards. The extension is powered by Wildfire Systems, a shopping rewards platform. Citi Ventures, one of Citi’s three venture investing vehicles, invested in Wildfire in 2022.

Industry News

January 23, 2024

Onfido Launches Compliance Suite for Local and Global Identity Verification

Onfido, a provider of automated identity verification, has launched an all-in-one identity verification service called Compliance Suite for customers in the EU. The suite adds Qualified Electronic Signature and One-time Password to Onfido's Real Identity Platform, which also handles local and global compliance.

Industry News

January 22, 2024

Federal Reserve Board Will Extend Comment Period on Interchange Fee Proposal

The board has extended the comment period on its interchange fee proposal until May 12, 2024. The previous deadline was February 12, 2024, but data has been added since that date was announced. In October 2023, the board requested comment on a proposal to lower the maximum interchange fee that a large debit card issuer can receive for a debit card transaction.

Industry News

January 22, 2024

Visa and Plug and Play Announce Alliance to Spur Grow of Canadian Fintechs

Visa Canada has allied with Plug and Play, an accelerator and venture capital firm, to support its entrance into the Canadian market. The companies will jointly develop a platform that gives fintechs in the country access to Visa's global network. Visa has already partnered with Plug and Play in the US to launch a fintech accelerator platform that gives selected founders access to Visa products, APIs, and analytics.

Industry News

January 19, 2024

Synchrony and Ally Financial Reach Agreement on Sale of Ally’s POS Financing Business

Synchrony and Ally Financial have entered into a definitive agreement for Synchrony to acquire Ally's point-of-sale financing business including $2.2 billion of loan receivables. The portfolio includes relationships with nearly 2,500 merchant locations and supports more than 450,000 active borrowers in home improvement services and healthcare.

Industry News

January 18, 2024

Pretty Links Launches Payment-Link Feature For eCommerce

Pretty Links, a link-management WordPress plugin, has released PrettyPay, a built-in payment-link function developed in collaboration with Stripe payments platform. The feature allows users to create trackable, branded checkout links they can paste in any unrestricted place online — similar to a "buy now' button. When a user clicks on the link, they are directed to a checkout page. If the user completes a purchase, the funds go immediately into the link creator's Stripe account.

Industry News

January 18, 2024

Mastercard Partnership for B2B Healthcare Payments

Mastercard has partnered with a financial institution in India and Remedinet, a cloud-based health tech platform, to simplify the back-end of cashless medical claims by connecting hospitals, insurers and third-party administrators in India. The service uses APIs to embed Mastercard's virtual card technology into health tech platforms, and is available to all insurance-network hospitals in India that use the Remedinet platform. The virtual card is generated once an authorized claim is submitted. This enables detailed transaction-level data to flow alongside the claim settlement information for every bill that is paid with a Mastercard branded commercial or virtual card.

Industry News

January 18, 2024

Mercury Financial Links Credit Cards to Amazon

Mercury Financial, the 38th largest issuer of Visa, Mastercard credit cards in the US, has started giving its cardholders the ability to link their credit cards to their Amazon wallet via the Mercury Cards app, the Amazon mobile app, or while shopping on Amazon. Once linked, cardholders can shop, earn, and redeem rewards points directly on Amazon.com and the Amazon mobile app. Last year Mercury launched Amazon Shop with Points for its 1.6 million cardholders.

Industry News

January 18, 2024

Pretty Links Launches Payment-Link Feature For eCommerce

Pretty Links, a link-management WordPress plugin, has released PrettyPay, a built-in payment-link function developed in collaboration with Stripe payments platform. The feature allows users to create trackable, branded checkout links they can paste in any unrestricted place online — similar to a "buy now' button. When a user clicks on the link, they are directed to a checkout page. If the user completes a purchase, the funds go immediately into the link creator's Stripe account.

Industry News

January 17, 2024

Synchrony General Purpose Credit Cards to Test Viability of Browser Extension

Synchrony Financial, which ranks 10th largest among all general purpose credit card issuers in the US, is testing a browser extension that automatically prompts cardholders during the checkout process to use a Synchrony credit card, and then provides a virtual card for that purchase. The initial launch is designed for Synchrony's general purpose credit cards on Chrome desktop browsers, with the intention to scale to more Synchrony credit cards if successful.

Industry News

January 17, 2024

Zillow Helps Renters Build Credit with Payment Reporting

Zillow, an operator of an online rental marketplace, has begun reporting rent payments made by its customers to one of the three top national credit bureaus. There is no cost to to the renter. Data from the Consumer Financial Protection Bureau indicates that approximately 26 million Americans lack a credit history, often because rent payments go unreported. The reporting gap particularly affects minorities who tend to spend a far higher percentage of their income on rent than what home owners typically pay for a mortgage.

Industry News

January 17, 2024

Virgin Atlantic Implements Payment Orchestration with CellPoint Digital

Virgin Atlantic Airlines and its affiliated tour operator, Virgin Atlantic Holidays, have partnered with CellPoint Digital to implement its payment orchestration platform. CellPoint's specialty is the airline industry. Virgin Atlantic expects lowered transaction fees due to Cellpoint's intelligent routing capabilities. Other CellPoint customers include UATP, Emirates Airlines, AVA Airways and Viva Air.

Industry News

January 17, 2024

Brightwell Collaborates with Visa for Payouts to Bank Accounts and Wallets

Brightwell, a provider of cross-border payment products, has implemented Visa Direct to enable payouts to eligible bank accounts and wallets around the world. This makes Brightwell the first Visa-enablement platform provider in North America to offer all cross-border payment modalities enabled by Visa Direct. The service reaches over 8.5 billion endpoints including 3+ billion cards, 3+ billion accounts and 2.5 billion digital wallets.

Industry News

January 17, 2024

Organic Payment Gateways for Cannabis Seeds

Organic Payment Gateways has added payment gateways designed specifically for federally legal cannabis seed businesses in the US. They allow website owners to accept credit cards, and also to promote the plants' anticipated cannabinol levels, including THC and CBD, that will ultimately be grown from their seeds. Payment processing is compatible with e-commerce platforms such as WordPress, WooCommerce, and BigCommerce.

Industry News

January 17, 2024

Clearent by Xplor Adds Mobile App

Clearent by Xplor has launched Xplor Pay Mobile, designed for small businesses and sole traders such as in-home contractors, food trucks, farmers-market vendors, therapists and freelancers. Users can handle voids and process refunds. An offline mode stores transactions then processes them once internet access is available.

Industry News

January 16, 2024

Accel-KKR to Acquire Accertify from American Express

Accel-KKR, a technology-focused private equity firm, has reached an agreement with American Express to acquire Accertify, a wholly owned subsidiary. Accertify provides fraud prevention, chargeback management, account protection, and payment gateway services. It's customers include 40% of the Top 100 online retailers.

Industry News

January 16, 2024

Worldline and Google Announce Strategic Partnership

Worldline, the 7th largest merchant acquirer worldwide, will use Google Cloud technology to boost the digital capabilities it offers to merchants and financial institutions. It will also tap into Google Cloud's data analytics and AI capabilities to develop new payment products and services. Google will work with Worldline to facilitate online payments for Google's customers in Europe.

Industry News

January 16, 2024

TreviPay and Mastercard Partner to Launch B2B Net Terms Financing

TreviPay, a B2B-payments and invoicing network, has partnered with Mastercard to launch its Universal Acceptance product in order to expand supplier access to its TreviPay's services. Suppliers who accept Mastercard will be able to extend net terms and SKU-level invoicing to business buyers. They can also provide approved buyers with a net-terms card for purchasing, offering the checkout convenience of a credit card, as well as the auditability and purchase controls of trade credit.

Industry News

January 16, 2024

Visa Completes Acquisition of Pismo

Visa has completed its acquisition of Pismo, a global cloud-native platform for issuer processing and core banking. Clients will be able to access both capabilities across all product types via cloud native APIs. Pismo’s platform will also allow Visa to provide support and connectivity for emerging payment schemes and RTP networks for financial institution clients.

Industry News

January 16, 2024

DataVisor Platform Achieves PCI Compliance for Fraud Detection

DataVisor, an AI-powered fraud and risk platform, has received its PCI certification in accordance with the Payment Card Industry Data Security Standard (PCI DSS) to deliver a secure environment for processing, storing, and transmitting card information. Both existing and new DataVisor customers now have the option to host their data in a PCI-compliant environment.

Industry News

January 16, 2024

Swipesum Optimizes Payment Processing for NP Digital Marketing Agency

Swipesum, a payment processing and merchant services consultancy, has developed customized payment services for NP Digital, a global digital marketing agency. Called Staitment, the technology uses AI to uncover hidden processing fees within merchant statements. It also reduces the need for manual intervention while processing ACH and credit card payments, and integrates the company’s ERP and payment processing .

Industry News

January 16, 2024

CBord and Amazon Collaborate on Just Walk Out Technology for US Healthcare Market

CBord, a provider of campus card and cashless payment systems, has integrated with Amazon’s Just Walk Out technology at Candler Smart Bytes store at St. Joseph’s/Candler Hospital in Savannah, Georgia. It allows employee badges to be used as an alternative to credit cards. Just Walk Out technology detects what shoppers take from or return to the shelves so that they can leave the store without waiting in line. The purchase amount will be automatically deducted from their payroll deduct account, and itemized receipts are sent via email.

Industry News

January 16, 2024

Eventbrite Introduces Instant Payouts and Tap to Pay

Eventbrite, a marketplace for event creators and event goers in nearly 180 countries, has added Instant Payouts and Tap to Pay, initially for organizers in the US. Gobal availability is expected by the end of the year. Tap to Pay adds functionality for digital wallets and credit cards.

Industry News

January 16, 2024

Paymentus Expands Its Reach in Real Estate With Yardi

Paymentus, a provider of SaaS-based billing and payment products, has been designated as a fully qualified Yardi Standard Interface Vendor, meaning that it is available to property managers through the Yardi Voyager platform. Features include advanced bill management, modern payment options, reporting functionality, and the ability to automated rent and fee notifications. Residents can make instant payments through a variety of methods including PayPal, Venmo and other digital wallets, digitized cash, web, mobile, pay-by-phone and pay-by-text.

Industry News

January 16, 2024

Paymob Secures PSP License from Central Bank of Oman

Paymob, a provider of financial services in the Middle East, North Africa and Pakistan, has been granted the Payment Service Provider license by the Central Bank of Oman. The license permits Paymob to process both online and in-store payments in Oman via local integration with OmanNet, the secure payment infrastructure of the CBO.

Industry News

January 16, 2024

GhIPSS, Visa Sign Domestic Processing Partnership Deal

GhIPSS, an infrastructure provider for Ghana’s national payment systems, has signed an agreement with Visa that allows GhIPSS to process domestic transactions denominated in Ghana Cedi with Visa cards issued in Ghana. Combining Visa with GhIPSS’s Ghlink card will allow users to shop online and to receive international remittances directly on their combined Visa-ghlink cards. GhIPSS stands for Ghana Interbank Payment and Settlement Systems.

Industry News

January 15, 2024

Tulip Announces Tulip Pay, a Payment Integration Powered by Stripe

Tulip, a provider of retail customer-engagement products, has launched Tulip Pay for in-person retail transactions. Tulip Pay is a payment integration powered by Stripe. Clients can use Tulip Pay to close out in-store and curbside transactions on Tulip POS. It uses Stripe Terminal — a set of developer interfaces, pre-certified card readers and logistics-management tools. Businesses on Tulip can use the Stripe Reader S700 to accept in-person payments.

Industry News

January 15, 2024

Plooto Launches Enhanced All-In-One Payment Automation

Plooto, a provider of payment automation for small-to-midsized businesses, has launched a payment-orchestration product designed to support workflows and security requirements of rapidly scaling businesses in Canada. It includes end-to-end payment automation with security controls and connection to enterprise resource planning.

Industry News

January 12, 2024

MagTek Introduces AES-256 Encryption with CMAC Authentication

MagTek, a global provider of technology for retail electronic payments, has incorporated AES-256 encryption with CMAC authentication and DUKPT key management into its newest hardware devices — the Magensa Gateway.

Industry News

January 12, 2024

Dubai First is First Issuer in the Region to Use Mastercard Token Connect

Dubai First, the consumer services platform under First Abu Dhabi Bank, has become the first issuer in the UAE to use Mastercard Token Connect to push customers’ tokenized card details from its mobile app to Click to Pay and digital wallets. Cardholders using guest checkout will not need to manually enter card information. Returning users are automatically identified through their device or email.

Industry News

January 11, 2024

Global Payments and Commerzbank Announce Joint Venture in Germany

Global Payments, the fifth largest merchant acquirer worldwide, has formed a joint venture with Commerzbank, which focuses on small and midsize bank in Germany. The new entity, Commerz Globalpay GmbH, is expected to launch in the first half of 2024 and will provide a suite of omnichannel payment services and software. Global Payments will hold a 51% stake in the company, which will be based in Frankfurt am Main, Germany, and Commerzbank will hold 49%.

Industry News

January 11, 2024

ACI Worldwide To Power Payments for U.K. Retailer Co-op in Cloud

ACI Worldwide, has mighrated longtime customer U.K. retailer Cofrom physical data centers to its mulit-tenant cloud platform hosted in Microsft Azure. The migration follows ACI’s announcement of an expanded multi-year strategic alliance with Microsoft to deliver payment software in the cloud. Microsoft also supports ACI’s AI-powered anti-fraud processing model.

Industry News

January 11, 2024

Darwinium and AtData Forge Partnership Against Fraud

Darwinium, a provider of next-generation digital security and fraud prevention, will use email-address intelligence from AtData to gain insights into the individuals behind an email address. The move is part of Darwinium’s efforts to expand its Evolution Ecosystem of partners whose products are available through Darwinium Marketplace and optimized through an open and flexible orchestration layer.

Industry News

January 11, 2024

Forter Announces Next Generation Approach to Blocking Policy Abuse

Forter, a trust platform for digital commerce, has launched its next-generation Abuse Prevention program that allows merchants to identify and block abuse through custom, self-service policies and simulations. Estimates say that 56% of US and UK consumers admit to wardrobing – purchasing an item with the intent of returning it after use. Forter aims to help merchants block serial abusers without negatively impacting trustworthy customers. It has added Policy Builder to identify common forms of abuse—returns, then simulate the impact of any one policy using live or historical data.

Industry News

January 11, 2024

Mastercard Develops Inclusive AI Tool for Small Businesses

Mastercard has partnered with Create Labs to develop Small Business AI, an Artificial Intelligence tool that provides customized assistance for all small business owners. Citing research that says 8 out of 10 small businesses operate without employees and that 88% of them would value mentorship along with additional resources, the program will offer both on a 24/7 basis via an conversational interface that uses generative AI. The AI tool will deliver data based on both Mastercard’s existing repository of content — drawn from the Small Business Community, Digital Doors, Mastercard Trust Center, Strive USA – and from a newly formed global media coalition able to license a company's content such as articles, podcasts and interviews.

Industry News

January 11, 2024

Nayax Opens Additional Technical Support Center

Nayax, a global commerce platform for payments and loyalty, has opened a new tier 1 technical support center for US merchant clients.

Industry News

January 11, 2024

Sift Partners with Underdog Fantasy to Prevent Fraud

Sift, a provider of products for Digital Trust & Safety, has partnered with Underdog Fantasy, a sports gaming platform. Its platform uses machine learning and a global data network of 1 trillion annual events to identify high-risk transactions in real time.

Industry News

January 10, 2024

U.S. Faster Payments Council’s Report on the Practicalities of Cross-Border Payments

The U.S. Faster Payments Council (FPC), a membership organization formed to advance safe, easy-to-use faster payments in the United States, has published a new research report titled The Practicalities of Cross-Border Payments in a Faster Payments World. The report builds on the FPC’s previous white paper, Cross-Border Faster Payments, released in June 2021, which focused on use cases and user expectations. The report was developed by the FPC Cross-Border Payments Work Group, which is sponsored by Mastercard.

Industry News

January 10, 2024

VoPay Unveils Instant Micro-Transaction Service for Bank Account Verification in Canada and US

VoPay, a provider of embedded financial software, has launched VoPay Verify, a service that verifies bank accounts via micro transactions. Available as of February 1, it will allow enterprises to authenticate and confirm any US or Canadian bank account by leveraging VoPay's real-time transaction capabilities.

Industry News

January 10, 2024

Wirex Launches Strategy for Tackling Risks from the Dark Web and Mule Accounts

Wirex, a Web3 money platform, has enhanced its measures to combat Dark Web activities and money mule threats by incorporating ZeroFox's Dark Web Monitoring tool into its system. The technology uses both human and artificial intelligence to scan the Dark Web for potential dangers like leaked data, compromised credentials, and other sensitive information in real-time. It also alerts users to mule accounts. ZeroFox is a US-based cybersecurity company.

Industry News

January 10, 2024

Weave Adds ACH Direct Debit

Weave, a platform for small and midsized healthcare businesses, has added ACH Debit Payments to its product suite. Previously, patients were limited to paying with credit or debit cards. ACH Direct Debit is available for Text to Pay and Online Bill Pay workflows. In recent months Weave has also formed partnerships with Affirm, Scan to Pay, and Mobile Tap to Pay.

Industry News

January 10, 2024

Finix Launches Payouts

Finix, a provider of software that lets businesses accept and send payments online or in-person, has launched Payouts, a service that can send money to one or many recipients at once via a single API. Use cases include B2B account payables, gig economy wages, insurance claims, tax refunds, sales commissions, tips and contractor payouts.

Industry News

January 10, 2024

PortX and Plaid Partner to Fast-Track Data Access and Innovation for Financial Institutions

PortX, a provider of financial infrastructure and integration technology for accessing data, has partnered with Plaid, a network that connects digital financial data between applications and bank accounts. The collaboration is designed give financial institutions a more comprehensive and holistic view of customer data in order to better personalize customer services and gain deeper financial insights.

Industry News

January 9, 2024

JustGiving Selects GoCardless Instant Bank Pay for Open Banking

GoCardless has replaced America Express as the exclusive open banking payment provider for JustGiving, an online donation platform. JustGiving will use the fintech’s Instant Bank Pay feature to collect instant one-time gifts, and its Direct Debit capabilities for recurring donations. Other companies using GoCardless include Yonder, a card provider, Nude, a savings app for first time buyers, Pillar, a fintech platform, and ethical lender Plend.

Industry News

January 9, 2024

VizyPay’s 2023 End-of-Year Report

VizyPay, a payment processing fintech serving small businesses in rural America, increased its revenue by 18% in 2023 to $21.5 million and is projected to bring in $26.5 million in 2024. Total Payments processed totaled 33.5 million generating $1.8 billion.

Industry News

January 9, 2024

Payway Introduces WooCommerce Payment Gateway Plugin

Payway, a payment services provider, has integrated with Global Payments' Portico Virtual Terminal for customers in the US and Canada. Portico is a web-based terminal that allows businesses to securely process manually keyed and card-not-present transactions.

Industry News

January 9, 2024

Visa Adds More Digital Wallets to CIBC and Simplii Global Money Transfers

Visa and CIBC have announced a new collaboration that will enable the bank’s clients to send funds to family and friends across borders using Visa Direct. Clients of both CIBC and Simplii, a digital-only banking division of CIBC, can send funds to either digital wallets, bank accounts or credit cards, reaching remittance destinations that include the Philippines, China, Bangladesh and Kenya. A previous collaboration allowed P2P and B2C payouts through CIBC's and Simplii's Global Money Transfer service.

Industry News

January 9, 2024

Link Money Will Provide Pay By Bank to Optty Clients

Link Financial Technologies, a US-based open banking payment platform, will provide Pay by Bank services to US-based merchant clients and partners of Optty, a payments platform. Optty integrates with nine payment architectures worldwide, 115+ Buy Now, Pay Later and alterntive payment services. It can make payouts in 120+ currencies in more than 140 countires.

Industry News

January 9, 2024

Bluefin Upgrades ShieldConex with Enterprise Security Proxy Service

Bluefin, a payment services provider specializing in PCI-validated Point-to-Point (P2PE) encryption and tokenization, has made its ShieldConex processing services end-point agnostic. This means ShieldConex will detokenize data in real-time and forward it to any processor for authorization, adding proxy capabilities for card-present and card-not-present transactions.

Industry News

January 8, 2024

Car IQ Expands Merchant Network

Car IQ, a provider of technology that makes vehicles into payment devices, replacing flat credit cards, is expanding its merchant network to include Exxon and Mobil stations including diesel stations and convenience stores.

Industry News

January 8, 2024

Big Tech Rebuffs CFPB Plans to Supervise Digital Wallets

The Consumer Financial Protection Bureau's November proposal to supervise companies like Apple and Alphabet's Google that provide digital wallets and payment apps has brought a warning from the Computer & Communications Industry Association (CCIA). The lobby group, representing members including Amazon, Meta and X, said the CFPB's proposal had failed to identify specific risks to consumers and improperly viewed nonbank digital providers and banks as direct competitors. The CFPB proposal, which has yet to be finalized, would subject such companies to the same kind of supervision currently imposed on banks. Officials expect the proposal, as currently written, would cover 17 companies responsible for 13 billion payments annually.

Industry News

January 4, 2024

Intergiro Partners With Silverflow

Talus Pay, a provider of payment processing for small and mid-sized merchants, has acquired Jobox.ai, a fintech serving the home services industry, and Clarus Merchant Services, a provider of integrated B2B payments. Processing volume from the two companies raises Talus Pay's volume to more than $9 billion annually from over 22,000 merchants in the US. Talus Pay is a portfolio company of A&M Capital Partners.

Industry News

January 4, 2024

Talus Pay Acquires Jobox.ai and Clarus Merchant Services

Talus Pay, a provider of payment processing for small and mid-sized merchants, has acquired Jobox.ai, a fintech serving the home services industry, and Clarus Merchant Services, a provider of integrated B2B payments. Processing volume from the two companies raises Talus Pay's volume to more than $9 billion annually from over 22,000 merchants in the US. Talus Pay is a portfolio company of A&M Capital Partners.

Industry News

January 4, 2024

Visa Launches Web3 Engagement Service for Customer Loyalty

Visa's recently launched Web3 Loyalty Engagement Solution targets consumers attracted to digital and virtual worlds by rewarding them for engaging in immersive programs like gamified giveaways, augmented reality treasure hunts, and new ways to earn and burn loyalty points. The program, powered by SmartMedia Technologies, allows brands to offer customers a digital wallet where they can apply rewards – such as perks and benefits – towards virtual, digital or real-world experiences in sectors such as travel and sports.

Industry News

January 4, 2024

New Consortium Assists Financial Institutions with Check Fraud

FraudXchange is a newly formed cooperative network for financial institutions wanting to share insights, strategies and intelligence related to fraud prevention. It offers reporting of fraudulent transactions, streamlined communication, and expedited funds return between member banks and credit unions. It also monitors the dark web, employee-email fraud detection and provides a fraud training platform.

Industry News

January 4, 2024

Intellicheck Introduces Enhanced Its Identity Platform

Intellicheck,a company that provides both digital and physical identification validation, has added Capture for digital users of its platform. New features include auto snap/focus for image capture, a barcode scanner, new user prompts, and a faster workflow. Intellicheck customers can white label the user experience with logos, colors, and language customization.

Industry News

January 4, 2024

Adyen Partners with Straumur to Simplify Payments in Iceland

Adyen, a global financial platform, has entered a partnership with Straumur, a subsidiary of Kvika that processes payments in several verticals in Iceland including grocery stores, restaurants, pharmacies and gas station. Adyen will act Straumur's acquiring bank, allowing merchants to collect all payment data from all sales channels, markets and consumers on the same platform.

Industry News

January 3, 2024

LQpay Introduces Zero-Click Payments for Practices

LQpay, a payment services provider to the healthcare industry, has begun offering Zero-Click Payments for medical and dental practices. It integrates the LQpay POS app with both stored payment information and the appointments calendar from a practice management system. When using later model POS terminals, card-on-file capabilities can be combined with LQpay’s proprietary robotics processing Automation technology.

Industry News

January 3, 2024

Chaser’s SMS Payment Reminders

Chaser, an accounts-receivables SaaS platform, has added SMS invoice-chasing functionality for payment reminders. The company says research has shown that, compared to an open rate of 25% for emails, SMS message have a rate of 98%. The average amount of time from when SMS reminders are sent to when an overdue bill gets paid is 16 days, which is 7 days after then the average of emails alone. Chaser uses a centralized cloud system and customizable templates designed to appear human-crafted. It's offering free SMS usage to all its customers from January to June 2024.

Industry News

January 2, 2024

Tata Pay Gets Payment Aggregator License in India

The Tata Group's digital payments app, Tata Payments, has been granted a payment aggregator license by the Reserve Bank of India according to the Economic Times. This allows the company to facilitate ecommerce transactions on its platform, joining companies like Razorpay, PhonePe, and Google Pay.

Industry News

December 26, 2023

Mastercard SpendingPulse Shows US Retail Sales Up 3.1% for Holiday Season

Mastercard's preliminary findings from its SpendingPulse report show US retail sales, excluding automotive, increased 3.1% YOY this holiday season, running from November 1 through December 24. SpendingPulse measures in-store and online retail sales across all forms of payment and is not adjusted for inflation.

Industry News

December 22, 2023

Blackstone Signs Agreement to Acquire Sony Payment Services in Japan

Blackstone has entered into a definitive agreement to acquire a majority stake in Sony Payment Services, a top payment service provider in Japan. Sony Bank will sell its equity but continue to support the growth of SPS as a minority investor. Sony Group established its payment service business in 1995. It became a standalone company in 2006. SPS offers high-speed and secure infrastructure for customers and businesses to process online payments.

Industry News

December 22, 2023

Ping Payments Chooses Neonomics to Support Nordic Expansion

Ping Payments, a Swedish company that specializes in payment services for platforms, has selected Neonomics, a Norwegian Open Banking technology company, to enhance its Open Banking services across the Nordics. Neonomics will manage end user consents and A2A payments and provide Ping Payments with connections to banks across Norway, Denmark and Finland.

Industry News

December 21, 2023

700Credit Announces Alliance with Overfuel

700 Credit, a provider to the automotive industry of products that handle credit reports, compliance, soft pulls, driver's license authentication and identity verification, has partnered with Overfuel, a mobile-first website platform that offers dealerships secure online payments for online car buyers. The alliance allows shoppers to prequalify for financing directly on a dealership's website or from their mobile phone.

Industry News

December 21, 2023

Data Plus and Edenred Pay Expand Their Partnership to Provide DPPay

Data Plus, a provider of end-to-end payment automation for multi-property management, has expanded its partnership with Edenred Pay to power DPPay, an embedded payments service that automates reconciliation processes for hotels and hospitality businesses during the complete AP process. DPPay will be available by the end of Q1 2024.

Industry News

December 21, 2023

NordVPN Adds Cyber Protection Benefits Backed by Insurance

NordVPN, a cybersecurity company, has obtained cyber protection benefits backed by insurance for its customers in selected markets, starting with the US and the UK. Benefits are included in the NordVPN Ultimate bundle subscription plan, together with the virtual private service NordVPN, the password manager NordPass, and other features, without additional cost.

Industry News

December 20, 2023

Onbe and CardCash Launch Instant Payouts Marketplace

Onbe, a corporate payouts platform, has partnered with CardCash, an online market for unused prepaid cards, to enable instant payouts on virtual Mastercard cards. The program was piloted over the summer of 2023 and rolled out for the holiday season. It allows CardCash customers to spend at the 130 million Mastercard locations worldwide.

Industry News

December 19, 2023

Financial Data Exchange Announces Release of FDX API v6.0 Featuring Updates for Open Finance Data Sharing

The Financial Data Exchange (FDX) has announced its release of FDX API 6.0, which includes extended fraud notification, more options for payment network data, updates to tax documentation, corporate/treasury support, and the first payroll data structures.

Industry News

December 19, 2023

Affirm Expands to Self-Checkout at Walmart Stores

Affirm has expanded its services with Walmart to bring BNPL options to self-checkout kiosks at over 4,500 Walmart stores in the US.

Industry News

December 19, 2023

Bold Commerce Brings Personalization to Payments

Bold Commerce, a provider of headless checkout for omnichannel retailers and DTC brands, has launched a payment feature for its Bold Checkout product, called Payment Booster. It allows brands to expand the payment options they offer, manage the handling of multiple payment options and introduce as many payment options as they need to cater to individual shoppers. Personalized payment experiences are based on shoppers’ profiles, the device and channel they’re using and past purchase behavior.

Industry News

December 19, 2023

JCB Extends Collaboration with Worldpay from FIS for Contactless Deployment in the UK

JCB International has extended its collaboration with FIS and its merchant services business, Worldpay from FIS, to enable JCB Contactless for its UK merchants. Almost 20% of Worldpay POS systems in the UK are already equipped to accept JCB contactless payments. The remaining 80% should be similarly equipped by the end of 2024.

Industry News

December 19, 2023

Volt and Ekko Partner to Help Consumers Remove Plastic from the Ocean

Volt, a real-time payments platform, will partner with Ekko, an embedded sustainability fintech, to give its customers the no-fee option of choosing to remove a plastic bottle from the ocean at checkout. Afterwards they are shown a real-time counter for how many bottles have been removed so far.

Industry News

December 19, 2023

Yonder Goes Live with GoCardless for Variable Recurring Payments

Yonder, a rewards credit card, has extended its relationship with GoCardless by adding Variable Recurring Payments (VRPs) alongside the direct debit functionality it uses already. GoCardless offers VRP through its Instant Bank Pay feature. Yonder customers can use VRPs to instantly pay off their credit card balance.

Industry News

December 19, 2023

Corpay Cross-Border Expands Global Presence with a New Office in Chennai, India

Corpay, a Fleetcor brand handling business payments, has opened a back-office support center in Chennai, India in order to expand its cross-border business. The center will function as a service hub, initially handling financial planning and analytics, data and business intelligence, sales compensation, CRM, credit underwriting, client support, strategy and M&A.

Industry News

December 18, 2023

Alternative Payments Launches Collections Assist

Alternative Payments, a provider of integrated B2B payments and checkout infrastructure, has launched Collections Assist, an embedded feature designed to help companies get paid faster. It gets activated when invoices are not paid within 30 days, allowing businesses to evaluate and then send overdue invoices to collections with two clicks.

Industry News

December 18, 2023

Visa Expands Fintech Fast Track to Drive the Next Generation of Money Movement

Visa is expanding its Fintech Fast Track program beyond card issuance to connect members to Visa’s real-time money movement platform, Visa Direct.

Industry News

December 18, 2023

Visa Announces Strategic Collaboration with Tech5 to Advance Digital Government Ecosystems

Visa and Tech5, a provider of biometrics and digital identity management, have signed a strategic agreement to collaborate on the development and enhancement of digital government ecosystems. The partnership will enable Visa card credentials for citizens and non-residents through multiple digital channels, expanding card acceptance for government disbursements and payment programs, and initiating programs for financial literacy and digital inclusion.

Industry News

December 15, 2023

Blaze Announces Self-Checkout for Dispensaries

Blaze Solutions, manufacturers of a software suite for cannabis dispensaries and delivery services, can now give dispensary customers the option of using their smartphone camera to scan product QR codes for self checkout.

Industry News

December 15, 2023

UnionPay International Partners with Trip.com

UnionPay International's cards will be accepted by Trip.com, operators of a hotel and flight network consisting of more than 1.2 million hotels and flights from over 510 airlines covering 3,400 airports in 220 countries and regions.

Industry News

December 15, 2023

Bluefin Announces a Global Agreement with Scheidt & Bachmann

Bluefin, a provider of PCI-validated encryption and tokenization services to protect payment data, has reached a global agreement with Scheidt & Bachmann Fare Collection Systems to secure fare-collection systems. Scheidt & Bachmann will give clients using its platform the option of using Bluefin's PCI P2PE service based on Decryptx. The company has upgraded more than 3,800 ticket vending machines with P2PE protected payment devices throughout the UK and Ireland for their national rail services.

Industry News

December 15, 2023

Ebanx Integrates Botón Bancolombia for Cross-Border Digital Commerce in Colombia

Ebanx, a Brazil-based PSP that specializes in payments for rising economies, has added Botón Bancolombia to its portfolio of payment methods in Latin America. The integration gives cross-border merchants selling to customers in Colombia the ability settle payments for products and services with a bank transfer. Bancolombia has more than 10 million active digital customers.

Industry News

December 14, 2023

JCB and GLN Agree to Accept Korean Code Payment Services

JCB Co. has agreed to enable the Korean code payment service provided by GLN at Smart Code merchants. This will enable users of Korean code payment services—such as GLN, KEB Hana Bank and KB Kookmin Bank—to shop at Smart Code merchants in Japan.

Industry News

December 14, 2023

PSCU Announces Annual Dividend for Fiscal Year 2023

PSCU, a credit union service organization and a provider of integrated financial technology, has announced a $31.0- million annual patronage dividend for the 2023 fiscal year, with a cash distribution of 30%. PSCU’s total cash distribution to its owners this year is $19.4 million, including $7.6 million in capital credits and $2.5 million in revolving funds.

Industry News

December 14, 2023

SAP and PayPal Collaborate to Simplify Digital Payments Through the Braintree Platform

SAP has expanded its integration with financial services company, PayPal, through the creation of a digital payments plug-in for the PayPal Braintree platform built on SAP Business Technology Platform (SAP BTP). The technology brings together data and analytics, artificial intelligence, application development, automation and integration. PayPal will offer a plug-in for SAP customers.

Industry News

December 14, 2023

TD Bank Group and Plaid Enter into North American Data-Access Agreement

TD Bank and Plaid have entered into a North American data-access agreement that allows TD customers in Canada and the US to access applications and services on Plaid's network without having to share login credentials with third parties. Plaid's data network has over 8,000 + apps and services.

Industry News

December 14, 2023

Offchex Consults on Reducing Paper Checks

OffChex, a new Chicago-based payment consultancy, has launched a check-migration and consulting service with a focus on reducing or eliminating paper checks. The company provides a turnkey service and manpower to replace checks with digital payment methods, such as electronic ACH.

Industry News

December 13, 2023

Worldline Subsidiary Obtains ‘Major Payment Institution’ License for Singapore

Worldline's wholly owned subsidiary, GCS APAC, has been granted a Major Payment Institution license by the Monetary Authority of Singapore. The license allows Worldline to deliver localized and cross-border money transfer services. It also supports merchant acquiring.

Industry News

December 13, 2023

Trustly and Cross River RTP Adoption Approaches 10% of Total Network Volume

Trustly, a provider of Open Banking Payments, has its volume of Real Time Payments grow by 29% in transactions and 31% in payment value from Q2 2023 to Q3 2023. The company operates instant payouts in the US in partnership with Cross River, a provider of financial services and technology infrastructure that offers embedded financial technology.

Industry News

December 13, 2023

UK Payments Regulator Proposes To Cap Cross-Border Fees On Mastercard and Visa Cards

UK's Payment Systems Regulator or PSR may introduce a price cap on cross-border interchange fees for transactions made on credit and debit cards, mainly on cards carrying the Mastercard and Visa brands. PSR published an interim report for its market review into cross-border interchange fees, saying online retail payments between the UK and the European Economic Area may be unduly high.

Industry News

December 13, 2023

Airwallex and Woo Partner for Cross-Border Commerce

Airwallex, a global payment and financial platform for businesses, is available on open source e-commerce platform Woo Commerce. Merchants on Woo Commerce can use Airwallex to accep cross-border payments made with global cards, Apple Pay, Google Pay and 60+ local payment methods.

Industry News

December 13, 2023

Melio’s Platform Offers Real-Time B2B Payments

Melio, a B2B payments-as-a service platform for small businesses, has launched real-time payments. Giving payors the option of delivering funds to their vendors instantly allows them to hold on to their funds for as long as possible rather than paying days ahead of a due date. Real-time payments can currently support approximately 60% to 70% domestic B2B transactions in the US. The feature is supported by J.P. Morgan Payments.

Industry News

December 13, 2023

Noqodi Partners with Napier to secure Digital Payments in the UAE

Napier, a London-based platform for anti-money laundering and financial crime compliance, has been chosen by Noqodi, a digital wallet and payments provider based in the United Arab Emirates (UAE). Noqodi will use Napier's transaction monitoring, client screening, client risk assessment and client activity review services.

Industry News

December 12, 2023

Apple to Let Mobile Payment Rivals Access Tap-and-Go NFC

Apple, in a move that could settle an EU antitrust case carrying a possible fine, has offered to let rivals access its NFC tap-and-go mobile payments systems used for mobile wallets. Last year, EU regulators alleged that Apple was curbing access to this technology, making it difficult for others to develop a competitive service on Apple devices.

Industry News

December 12, 2023

Visa Platinum Business Debit Cards from Fibank

Fibank (First Investment Bank) in Bulgaria has launched a Visa Platinum Business Debit card. The product is designed for managing company funds, and can be issued to corporate managers or other authorized personnel. Fibank already issues Visa Business Debit cards in each of its branches in Sofia and across the country.

Industry News

December 12, 2023

Affirm Teams With Blackhawk for Retail Gift Cards

Affirm has partnered with privately held Blackhawk Network to provide digital prepaid cards for the holiday season. Cards carrying values of between $50 and $500 can be paid for with installments spread over as many as 12 months . They can be purchased from Nordstrom, REI and Bath & Body, or from Affirm via its website or app.

Industry News

December 12, 2023

ConnexPay Launches Technology to Both Accept and Make Payments in Canada, Unifying Payments for North America

ConnexPay, an all-in-one payments platform, has added acquiring in Canadian dollars (CAD) to its existing service for issuing virtual cards. Some customers, including GlobeSpan Travel Management, are already transacting in CAD.

Industry News

December 12, 2023

Corpay One Launches New Business Mastercard

Corpay One, a Fleetcor brand, has launched Corpay One Business Mastercard for fuel, travel and business purchasing. The card also delivers fuel rebates, fraud prevention and spend management tools.

Industry News

December 12, 2023

Versatile Credit Integrates Intellicheck With Advanced Identity Validation

Intellicheck's technology for identity validation has been integrated by Versatile Credit into their omnichannel lending platform, allowing Versatile's merchant customers to authenticate customer identity documents in less than a second with a pre-filled application. Intellicheck claims a 20% to 40% reduction in false negatives. Versatile Credit's markets include jewelry, furniture, flooring, automotive, electronics, and elective medical.

Industry News

December 12, 2023

JustiFi and Verifone Partner for Unified Card-Present Service

JustiFi, provider of a platform that consolidates reporting processes by incorporating both card-present and card-not-present transactions within a unified dashboard that also includes embedded lending and insurance, has partnered with Verifone. The companies have introduced a “Unified Card-Present” service foreign-store transactions at Verifone POS terminals.

Industry News

December 12, 2023

Citizens Rolls Out Sustainably Manufactured Mastercard Debit and ATM Cards

Citizens Financial, which ranks 17th largest among US debit card issuers and 27th largest among credit card issuers in the US, has rolled out a new sustainably manufactured Mastercard Debit and ATM Card. The cards use 90% recycled PVC, and have Mastercard’s Touch Card notch to improve card recognition for customers who are blind and partially sighted. They also carry Mastercard’s sustainable card badge, which shows an independent program has certified that they meaningfully reduce energy consumption, material consumption, carbon footprint and waste.

Industry News

December 12, 2023

RevoluPay introduces Visa Direct for Instant P2P Payments Through RevoluSend

RevoluPay, a wholly owned subsidiary of RevoluGroup Canada, has connected to Visa’s real-time money movement service, Visa Direct, to provide its customers in the European Economic Area with the ability to send and receive P2P payments.

Industry News

December 11, 2023

Discover Financial Services Appoints Michael G. Rhodes Chief Executive Officer and President

Discover Financial Services has appointed Michael G. Rhodes Chief Executive Officer and President, effective on or before March 6, 2024, at which time he will be appointed to the company’s Board of Directors. He will also serve as President of Discover Bank and will be appointed to the Discover Bank Board of Directors, effective the same date. Rhodes has more than 25 years of experience, most recently as the Group Head, Canadian Personal Banking at TD Bank Group.

Industry News

December 11, 2023

Payway Introduces WooCommerce Payment Gateway Plugin

Payway, a payment services provider, has launched a plugin called Payway for WooCommerce Payment Gateway. WooCommerce is an open-source ecommerce platform built on WordPress that lets users customize their websites. Payway's plugin currently accepts credit cards and, in future releases, will support Apple Pay, Google Pay, and recurring payments.

Industry News

December 7, 2023

Block’s Self-Custody Bitcoin Wallet Bitkey Launches Globally

Bitkey, a self-custody bitcoin wallet built by Block, has launched in over 95 countries in six continents, giving Bitcoin owners an alternative to keeping their bitcoins in the custodial platforms or exchanges where it was bought. The wallet includes a mobile app, hardware device and a set of recovery tools in case the customer loses the phone, their hardware, or both. Bitkey was built by the Proto team at Block.

Industry News

December 7, 2023

PayPal Stock Declines as Amazon Drops Venmo Payment System

Shares of PayPal Holdings fell after Amazon indicated it would no longer accept payments from PayPal-owned Venmo after January 10. Amazon and PayPal announced the Venmo arrangement in October of last year. PayPal shares closed 1.8% lower at $58.48 on December 7, bringing their year-to-date decline to 22%.

Industry News

December 7, 2023

FreedomPay Partners with Citi Pay

FreedomPay has collaborated with Citi Retail Services, allowing its merchants to offer Citi Pay products at the point of sale including a digital-only credit card and monthly installment loans.

Industry News

December 7, 2023

Citcon Partners with Alipay+ for Cross-Border Mobile Payments in US

Citcon, a payments processor, has partnered with Alipay+ to enable international e-wallet payments for retail merchants in the US International Shoppes, a duty-free retail group, will be among the first merchants gaining access to Alipay+ and its e-wallet partners including Alipay China wallet, AlipayHK (Hong Kong SAR, China), Mpay (Macau SAR, China), GCash (The Philippines), Kakao Pay, NaverPay, TossPay (South Korea), OCBC, ChangiPay (Singapore), Public Bank (Malaysia), TrueMoney (Thailand), Hipay (Mongolia), and Tinaba (Italy).

Industry News

December 7, 2023

Cooperative CS Ahorro y Crédito partners with OpenWay for e-Commerce Acquiring

CS Ahorro y Crédito, a financial cooperative formerly known as Coopeservidores, has introduced an e-commerce acquiring service on OpenWay's Way4 digital payment platform.

Industry News

December 7, 2023

Infobip to Deliver Conversational Commerce via AuthVia

Infobip, a global cloud communications platform, will offer its network of enterprise customers and developers access to Text-to-Pay and conversational commerce technology through a partnership with AuthVia. The technology can be used to complete purchases, sign documents and conduct more transactions from within messaging apps like text/SMS, WhatsApp, and Facebook Messenger.

Industry News

December 7, 2023

Trustmi Provides Bank Account Validation

Trustmi, cybersecurity fintech company, has released Trustmi Certify for bank account validation. The out-ofband process authenticates the identity of vendors as well as the legitimacy of their bank accounts, reducing time-consuming communications with the bank. The solution also adds the intelligence of the AI-powered Trust Network to provide additional assurance of validation. In addition, the bank account validation solution enables vendors to connect to their bank account during onboarding for immediate validation or use penny drop for validation.

Industry News

December 6, 2023

Russia Launches Mir Payment System in Cuba

Mir Payment Systems, the domestic card payment system in Russia, is expanding to Cuba. Its cards are now accepted at hotels, shops and restaurants in Havana and Vardero. The Central Bank of Russia created Mir in 2017 as a competitor to Visa and Mastercard. When Russia invaded Ukraine in 2022, all international card networks dropped clearing and settlement services in Russia. Mir is the largest domestic card program in Europe. Cash withdrawals from Mir cards have been available in Cuba since March of this year.

Industry News

December 6, 2023

Brim Financial Partners with Mastercard to Modernize Its Credit Card Infrastructure in the US

Brim Financial, a Credit-Card-as-a-Service provider, has formed a strategic partnership with Mastercard to modernize its credit card platform with open banking for financial institutions, fintechs, regional and community banks and large brands in the US.

Industry News

December 5, 2023

Shift4 Selected to Power Payments for the Baltimore Ravens

Shift4's VenueNext point-of-sale technologies will be used by the Baltimore Ravens to handle the NFL team’s ticketing transactions as well as in-venue concession sales made at M&T Bank Stadium. This includes mobile and kiosk-based ordering and payments.

Industry News

December 5, 2023