Card-acceptance costs and network rules weren’t the only subjects covered by the sweeping settlement revealed Tuesday involving Visa Inc., Mastercard Inc. and lawyers for the merchants that sued them. The pending agreement, which needs approval from a federal judge, allows for the creation of so-called merchant buying groups that would …
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Merchant lawsuits challenging credit card interchange and payment card network rules that began nearly two decades ago may finally be heading for resolution under a landmark settlement announced Tuesday by Visa Inc., Mastercard Inc., and lawyers for the merchants. Merchant lawyers in the massive case estimate the settlement could save …
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Less than a year after going public, Bitcoin ATM network deployer Bitcoin Depot Inc. on Monday said it is eyeing substantial growth in 2024. Meanwhile, blockchain technology provider BTCS Inc. swung to a profit in 2023 after a loss in 2022. Recent developments from Atlanta-based Bitcoin Depot include the purchase …
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American Express Co. unveiled on Monday a new virtual card integration with AmEx Global Business Travel’s Neo1 platform for travel and spending management. And digital-tipping software developer Grazzy Inc. said IHG Hotels and Resorts has named it as an approved partner for providing tips to hotel employees electronically. The AmEx …
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In its first earnings report since its split from the former NCR Corp., point-of-sale and digital-commerce technology provider NCR Voyix Corp. on Thursday said it added 14,000 sites to its platform in 2023. Atlanta-based NCR Voyix’s platform handles payments, business-management and marketing functions for retailers, restaurants, and banks, and the …
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The federal court overseeing a $5.54-billion settlement between millions of card-accepting merchants, on one hand, and Visa Inc. and Mastercard Inc., on the other, over interchange costs recently took several steps that ultimately could get payments out to merchants. But checks still won’t be in the mail for some time. …
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A growing volume of cross-border transactions is fueling the development of real-time payment services, according to a new report from Bank of New York Mellon Corp. and research firm Datos Insights. The report also says businesses stand to lose if they’re slow to invest in real-time payments. Some 80% of …
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Intuit Inc., developer of the QuickBooks accounting software and related services for small businesses, embedded itself further into the payments business on Wednesday when it unveiled QuickBooks Money. The free product allows businesses to send invoices accepting payment choices including credit, debit, automated clearing house, PayPal, Venmo, and Apple Pay …
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Gross dollar volume on prepaid and other debit cards issued by The Bancorp Bank grew 15% year-over-year in the second quarter, and the bank expects volume growth will exceed that rate in 2024 as it expands existing programs and books new partners. Dollar volume hit $32.8 billion for the quarter, …
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With payments-industry competition rapidly getting more intense, long-established players such as Mastercard Inc. could lose out if they don’t change with the times. But Mastercard’s chief executive signaled Thursday that change is just what his company is doing. “We stand ready to compete,” declared Michael Miebach during Mastercard’s second-quarter earnings …
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