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Industry News

Industry News

June 5, 2024

EBay to Stop Taking American Express Cards After Fee Dispute

EBay will drop American Express cards as a payment option, citing “unacceptably high fees” in an email to consumers reviewed by Bloomberg News. The change is set to take effect August 17.

Industry News

June 5, 2024

CFPB Launches Process to Recognize Open Banking Standards

The Consumer Financial Protection Bureau (CFPB) has finalized a rule outlining the qualifications to become a recognized industry standard setting body, one that can issue standards to help companies comply with the CFPB’s upcoming Personal Financial Data Rights Rule. The new rule establishes the process for recognizing data sharing standards and is designed to prevent dominant incumbents from squelching startups. The CFPB believes that consensus standards issued by recognized standard setters can help put the Personal Financial Data Rights rule into action and accelerate the financial system’s movement towards open banking.

Industry News

June 4, 2024

Enfuce and Swile Launch All-in-One Payment Card for Employee Benefits

Enfuce, a card issuer and payment processor, has partnered with Swile, makers of an app for employee benefits, to launch an all-in-one employee benefits card in France. Benefits range from lunch and gift vouchers to travel expenses. Swile's customers can control when, where, and how the cards are used, and apply rules for approving and declining payment transactions in real time. Enfuce processes €3 billion in transaction volume annually.

Industry News

June 3, 2024

DNA Payments Launches Online Card Acceptance of Discover Global Network to UK Merchants

DNA Payments, a UK-based fintech offering alternative payment methods at in-store POS locations, has launched Alipay+, a suite of cross-border mobile payment and digitalization technology operated by Ant International. Alipay+ will allow over 50,000 UK merchants using DNA Payments’ POS terminals to accept direct payments from global tourists, mostly from Asia.

Industry News

May 29, 2024

Amex and Ecobank to Expand American Express Acceptance in Sub-Saharan Africa

American Express and Ecobank Group, a pan-African financial services group, have signed an agreement to allow American Express cardholders to use their cards in Burundi, Central African Republic, Gabon, Guinea-Bissau, Liberia, Malawi, Mali, Niger, São Tomé and Príncipe, Sierra Leone, The Gambia and Togo. Additionally, the number of merchants accepting American Express Card payments will increase in countries where American Express acceptance already exists: Cape Verde, the Democratic Republic of Congo, Equatorial Guinea, Ghana, Nigeria, the Republic of Congo, Rwanda, Tanzania and Uganda.

Industry News

May 29, 2024

Elavon and Woo Partner for Small Business Payments

Elavon, the 11th largest merchant acquirer in Europe and a subsidiary of US Bank, will make its payments extension available to Woo to help micro and small businesses take online payments. Woo is the maker of WooCommerce, an open-source ecommerce platform built on WordPress. The extension will give Woo-supported ecommerce stores in Poland, Germany, the UK, Ireland, Sweden, Denmark, Norway, Belgium, Spain and the Netherlands instant access to online payment services from Elavon.

Industry News

May 29, 2024

PatientFi Expands Partnership with LaserAway, Powered by CredCompare Platform

PatientFi, a payments platform that offers financing, memberships and loyalty programs for medical practices, has expanded their partnership with LaserAway, an aesthetic dermatology chain. The partnership is powered by the CredCompare platform, a multi-lender platform that enables providers to extend financing options.

Industry News

May 29, 2024

Nexi Offers Tap to Pay on iPhone for Merchants in Italy

Nexi, Europe's second largest merchant acquirer, has launched the Nexi Partner Portal (NPP) in partnership with its Orderbird subsidiary. NPP allows retailers to establish card-acceptance services in 48 hours. Independent software vendors can use NPP to offer integrated payment services to their customers.

Industry News

May 29, 2024

Modulr Launches All-in-One Payments for the Travel Industry

Modulr, an embedded payments platform, has launched travel payments technology designed for online travel agents and travel industry intermediaries. It provides a suite of products in a range of currencies that includes virtual cards, account-to-account transfers and customizable notifications. All are accessible through a single API integration and an online portal. Travel companies can also access a range of fixed interchange rates available from both Visa and Mastercard, allowing for customized arrangements with suppliers.

Industry News

May 29, 2024

Flutterwave Secures Preliminary payment aggregator licence in Mozambique

Flutterwave has been granted approval-in-principle for a payment aggregator licence from The Bank of Mozambique, the country’s central bank. The approval allows Flutterwave to provide its payment services in Mozambique. Beyond Africa, Flutterwave has acquired money transfer licences in 13 US states.

Industry News

May 28, 2024

Banca Sella Enables Payments on the Discover Global Network

Banco Sella, an independent banking group in Italy, has integrated its POS terminals with the Discover Global Network to allow merchants in Italy to accept payments made with Discover, Diners Club International and affiliated network cards in their physical stores. The move follows the recent strategic agreement between Discover Global Network and Bancomat that allows Discover cards and mobile payment tools to be used in the Bancomat network throughout Italy.

Industry News

May 27, 2024

Mastercard and EagleLion Join Forces to Drive Digital Payments in Ethiopia

Mastercard will provide Mastercard Gateway to Ethiopia-based EagleLion System, a provider of digital financial technology. The collaboration supports the Ethiopian government's goal of enabling cashless transactions, including payments for public services and tax collection.

Industry News

May 24, 2024

CredBuild Reports Rent Payments to Credit Bureaus

CredBuild has launched a service that enables residents of rental apartments to report their rent payments to credit bureaus. The service uses a B2B2C integration that collaborates with property management systems and resident portal apps, and works with all three bureas - TransUnion, Equifax and Experian. BloomCredit provides the necessary APIs for data furnishing.

Industry News

May 23, 2024

Mastercard and Payment24 Boost Fuel Payment Security in EEMEA

Mastercard and Payment24, a fuel-payment fintech, are extending their collaboration across Eastern Europe, the Middle East and Africa to accelerate the adoption of the EMV standard. EMV, now being implemented in 80+ markets, reduces counterfeit fraud associated with cards that use only magnetic stripes.

Industry News

May 23, 2024

PPro partners with Afterpay to offer BNPL in US

PPro, a provider to multinational merchants and payment processors of local payment methods used by consumers in nearly 100 coutries, has partnered with Buy Now, Pay Later provider Afterpay. Ecommerce merchants and payment service providers based in the US, Europe, China and Hong Kong will be able to sell directly to US consumers using Afterpay.

Industry News

May 22, 2024

Virgin Red Announces Multi-Year Partnership with Synchrony and Mastercard for US Credit Card Program

Virgin Red has entered into a multi-year agreement with Synchrony and Mastercard for the new Virgin Red Rewards World Elite Mastercard credit card program. Synchrony will become the US issuer of a multi-category travel credit card program. Mastercard will become the exclusive payments network for the new card that will launch in the second half of 2024. The new Virgin Red Rewards Mastercard will allow cardholders to earn Virgin Points on hotels, flights, cruises or experiences, as well as purchases outside Virgin companies.

Industry News

May 21, 2024

Cardless, Avianca Airlines and LifeMiles Partner for First US Credit Cards on the American Express Network

Cardless, a company that delivers co-branded credit card programs, has partnered with Avianca Airlines' loyalty program, LifeMiles, to launch two new American Express cards in the US. Avianca is the largest airline in Colombia and the second largest in South America. As a member of Star Alliance and through LifeMiles, Star's loyalty program, members can accrue and redeem miles for travel to more than 1,300 destinations around the world.

Industry News

May 21, 2024

Castles Technology Integrates EasyFood into Android S1F2 Terminals

Castles Technology's Android-supported S1F2 POS terminals will be used by EasyFood, a recently launched food ordering and delivery application, allowing customers to pay for food online or in person throughout the United Kingdom.

Industry News

May 21, 2024

NetXD Expands its Collaboration with Visa B2B Connect for Cross-Border Payments in Asia and Other Markets

NetXD has expanded its collaboration with Visa B2B Connect to onboard banks in Asia for its payments-as-a-service offering. Since 2020 NetXD has onboarded banks across 8 countries in Europe and the Americas, allowing them to integrate to Visa B2B Connect from a pre-certified integration. The service gives banks wanting to facilitate business-to-business cross-border payments an alternative to the traditional correspondent banking network.

Industry News

May 20, 2024

Mashgin to Integrate Its AI Self-Checkout System with Verifone Commander

Mashgin, providers of a touchless self-checkout system, has integrated with Verifone, a global provider of POS terminals andpayments services including a computer vision self-checkout system. Convenience stores using Verifone's site management service will be able to add self-checkout kiosks connected to their payments, fueling and loyalty programs via a central Commander Site Controller. About 40% of convenience stores in the US use Commander.

Industry News

May 20, 2024

NCR Voyix Unveils Aloha Pay-At-Table for Restaurants

NCR Voyix, a global provider of digital-commerce service to retailers, restaurants and other businesses, has introduced Aloha Pay-At-Table using softwre from Sunday. The software lets guests use their smartphones to scan a tabletop QR code to view their itemized bill. They can split the costs and leave a tip while paying in less than 10 seconds. This software launched in 2021 with 23 locations across Europe during COVID-19. Currently, the platform is in more than 2,000 restaurants worldwide,.

Industry News

May 16, 2024

VGS Surpasses 3 Billion Tokens

VGS, formerly known as Very Good Security, has stored more than three billion tokens in its universal token vault. The vault stores sensitive data and manages payment routing across multiple processors and networks. VGS works with companies across every major continent including AWS, Albertsons, Deserve, and Fivestars by Sumup, and now stores more than 70% of credentials in the US.

Industry News

May 16, 2024

Mastercard and Salesforce Announce New Integration for Transaction Disputes

Mastercard and Salesforce have partnered to integrate Salesforce's Financial Services Cloud (FSC) with Mastercard's dispute resolution services. The new service is designed to streamline the way issuers view and manage transaction data, such as disputes and decisions. Mastercard’s services include Ethoca Alerts, which provides near real-time notifications when a financial institution raises a chargeback, and Ethoca Consumer Clarity, which provides merchant and purchase insights to issuers back-office teams.

Industry News

May 16, 2024

AppTech Payments Announces Commercial Launch of its Banking-as-a-Service Platform

AppTech Payments, a provider of digital financial services, has completed a pilot program for its Banking-as-a-Service platform, which will be used to commercially launch InstaCash. Instacash allows user to provide virtual accounts, debit cards, credit cards and high interest-yielding financial products. Traditional features such as check issuance, wire and ACH set up for bill pay were enhanced to include SMS invoicing for business-to-business transactions.

Industry News

May 16, 2024

Proxet Powers Arise Payment Platform for Aurora Payments

Aurora Payments, which focuses on integrated solutions for small to midsized businesses, has over 27,000 merchants in its portfolio and processes $12 billion annually. The company has deployed technology from Proxet, a one-stop platform that manages all aspects of the payment lifecycle, securing all transactions and providing real-time reporting. Proxet has delivered more than 200 projects for enterprise-level businesses.

Industry News
The latest information about the companies, products and services that are shaping the payments industry, selected by our team of specialists.

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May 2024