Despite its detractors, the so-called gig economy that relies on freelance workers looks like it’s here to stay. And Lyft Inc., a leading ride-share provider that’s a major player in the gig economy, would like to see the payments industry evolve to meet the gig economy’s needs. Ashwin Raj, the …

Best known as an online payment processor, Adyen N.V.’s point-of-sale processing volume in 2018’s first half more than doubled in a year, the Amsterdam-based firm reported Wednesday. In its first earnings report since its June initial public offering, Adyen, which has U.S. headquarters in San Francisco, reported processed volume of …

Notoriously picky about which payment forms it accepts, Costco Wholesale Corp. is now accepting Apple Pay, Google Pay, and Samsung Pay in its U.S. stores. With 519 locations, Issaquah, Wash.-based Costco is the nation’s third-largest brick-and-mortar retailer, according to the National Retail Federation. In its warehouse-like stores, it accepts debit …

Contactless fare payments are still booming on London’s massive public-transportation network, but it’s a different story in the United States despite years of talk and testing. The latest figures from Transport for London, the agency that oversees the United Kingdom capital city’s subways and buses, show an average of 1.48 …

Interchange on debit card transactions has changed relatively little in the nearly seven years since the Durbin Amendment to the 2010 Dodd-Frank Act took effect, but a Federal Reserve report notes one small but interesting recent change. The average interchange fee in 2017 for dual-message transactions on debit cards regulated …

Payment processor First Data Corp. reported late Wednesday that it has extended its joint venture with Wells Fargo & Co.’s Wells Fargo Bank, which is one of the nation’s largest merchant acquirers and an important contributor to First Data’s payment volume and profits, until the end of 2024. Wells Fargo …

The escalating U.S.-China trade war is generating calls for a truce from the payments industry. Most recently, the ATM Industry Association announced its opposition to planned U.S. tariffs on Chinese goods, calling them a “threat to business.” ATMIA members are expected to testify at a tariff hearing next week in …

The boycott of Visa credit cards by The Kroger Co.’s Foods Co chain in central and northern California began Tuesday as planned, but the parent company still won’t say whether the boycott will be expanded to its many other units. Citing what it calls high costs to accept Visa credit …

With First Data Corp.’s stock on the rise, KKR & Co. Inc., the investment firm that controls most of the payment processor’s voting shares, is planning a secondary stock offering that will reduce its stake but still leave it firmly in control. First Data announced Monday that an affiliate of …

The Department of Finance Canada on Thursday issued its latest merchant-friendly announcement regarding payment cards, this one disclosing agreements with Visa Inc. and Mastercard Inc. for an average 10-basis-point reduction in credit card interchange for small and mid-size businesses to take effect in 2020. The department also said American Express …