With some of its payments cohorts already having warned the coronavirus would hurt their businesses, it was no surprise Visa Inc. joined the crowd Monday in forecasting reduced cardholder spending would translate into lower revenues. More signs of growing concern about the impact of the virus, officially named Covid-19, on …

Payment-related fraud continues to diversify as EMV chip cards make counterfeit fraud at the point of sale far harder to commit. For example, the FBI last September said cumulative global losses, as reported to the bureau, from business email compromises and other email fraud totaled $26.2 billion from June 2016 to …

With just over seven months to go before a crucial liability shift, just how well is the conversion of U.S. gasoline pumps to accept EMV chip cards going? It depends on whom you ask. Visa Inc. says it’s progressing nicely. “I think we’re actually doing pretty well,” Julie Scharff, Visa’s …

The release date for the Federal Reserve’s planned FedNow real-time payments service is still three or four years off, but more details about its features will be released in the coming months, according to a Federal Reserve official. “This year we do plan to make an announcement based on … …

FMR LLC, the parent company of Fidelity Investments, the big mutual-fund and asset-management firm, this week spun off Akoya LLC, a tech company that recently launched an account-access protection network. Akoya is now co-owned by FMR, The Clearing House Payments Co., and 11 of TCH’s member banks, a development expected …

Thanks mainly to strong results in North America, leading non-bank ATM network owner Cardtronics plc saw fourth-quarter revenues rise, and in 2020 is seeking new growth from more partnerships with banks and fintechs and the deployment of deposit-taking ATMs. Houston-based Cardtronics now has nearly 1,000 deposit-taking and cash-accepting ATMs in …

While playing defense in a proxy war with the company’s largest shareholder, vending-machine payments provider USA Technologies Inc.’s top executives are looking for growth through software-based services, and expansion into adjacent markets and other countries, particularly Japan.  “Our go-to-market strategy is to advance our sales efforts as an integrated software …

All those unredeemed gift cards in people’s drawers and on dresser tops are adding up. New research from Bankrate LLC estimates the total value of Americans’ unredeemed gift cards and leftover store credits at $21 billion. Bankrate says its survey, the firm’s first of its kind, found the average adult …

Toast Inc., a software, point-of-sale hardware, and payments provider for restaurants, has raised $400 million in another funding round. The Boston-based firm introduced its first POS device in the spring of 2018, and among its services it acts as a payment facilitator for restaurants. The company says revenue increased 109% in …

The decline of checks over recent decades is a well-known story, but there were still 14.5 billion check payments in 2018, according to Federal Reserve research. So just who’s still writing checks, and for what kinds of payments? “All things being equal, older, low-income, non-minority group members are more likely …