Bank of America Institute reported that credit and debit card spending by BofA credit and debit cardholders increased 13% in April compared to the same month in 2021. Credit card dollar volume rose 22%, while spending on debit cards was up 6%. Combined transactions increased 8%.Some 43% of consumers would use …

The Judiciary Committee of the U.S. Senate heard testimony Wednesday from witnesses both for and against regulation of credit card interchange. Speakers represented a supermarket chain, merchant groups, Mastercard and Visa, and a bank. The hearing showed that “while more Democrats than Republicans likely would support greater intervention in the …

Processor Fiserv Inc. announced it is adding buy now, pay later services from Affirm Inc. to its Carat operating system. Affirm joins Bread, Synchrony, and Zip as current providers. Affirm said its service will be the first fully-integrated BNPL provider with Carat.Payments provider Rapyd Financial Networks Ltd. launched Virtual Accounts, intended to allow businesses anywhere globally …

Buy now, pay later provider Afterpay said retailer Rite Aid now accepts the installment payment option online and intends to offer it in-store in coming months.MoneyGram International Inc. rebutted claims by the Consumer Financial Protection Bureau that the company is a “repeat offender” with respect to “consumer harm,” citing the fact that the …

The Clearing House Payments Co. LLC announced it will soon introduce tokenization for checking account and routing numbers on transactions financial institutions run over TCH’s RTP real-time payments and EPN automated clearing house networks.Of 80 mid-tier U.S. financial institutions surveyed by Volante Technologies, 37% of these not already connected to The Clearing …

Consumer restaurant spending was up 4% in the first quarter, compared to a 7% increase in the 2021 first quarter, according to The NPD Group in a new report.Shift4 Payments Inc. has expanded its office in Lithuania, its only outpost in Europe, from a roster of two to more than 260 and …

Aeropay, a specialist in payments for the cannabis industry, announced it and Flowhub, a point-of-sale platform for cannabis dispensaries, will work together on enabling automated clearing house payments via Aeropay for more than 1,000 dispensaries using Flowhub’s software.Paysafe Ltd. said it is expanding in the auto-finance market through a deal to …

NCR Corp. reported first quarter revenue of $1.9 billion, a 26% increase from $1.5 billion in the 2021 first quarter. Much of that growth can be attributed to its payments and network business, which includes the Cardtronics and LibertyX acquisitions made less than a year ago. This revenue of $299 million increased 1,259% from $22 …

The payments platform Choice Inc. has acquired payments provider Direct Payment Consultants, boosting Choice to more than $3 billion in annual volume on more than 7,000 clients. In a separate transaction, Choice has been acquired by Nexa Equity LLC, a private-equity firm. The terms of the two transactions were not disclosed.A startup …

Data-exchange network Bonifii said it has selected Mastercard Inc.’s Finicity unit to provide open-banking services to access consumer bank data and support underwriting for mortgage, auto, personal, and small-business loans.A financing company for patients to pay medical bills, iVitaFi, launched IVitaFi MyPlan, a payment platform that allows guarantors to access medical bills and …