Shift4 Payments Inc. has been a busy payments provider in recent years, and early Monday the company made plain its pace will only get faster and will include continued expansion internationally. Traditionally focused on the U.S. market, executives told equity analysts the company had closed on its first acquisition in …
Read More »Block Pursues a ‘Compelling Opportunity’ in Linking Cash App With Square
Block Inc. is the parent of the well-known Square point-of-sale equipment and processing business, but it’s the company’s Cash App unit that has been stealing a steadily growing share of the limelight at the 13-year-old company. And now Block is working to find ways to link its two big units …
Read More »Eye on Earnings: FIS Faces an ‘Uncertain Environment’ While EVO Looks to a Merger With Global Payments
Two of the more significant merchant-processing operators reported quarterly results Thursday morning, with FIS Inc. indicating its merchant solutions unit recorded $1.18 billion in revenue in the period ended Sept. 30, up 4% year-over-year. Meanwhile, the large payments provider EVO Payments Inc. said its revenue for the same period totaled …
Read More »If More States Allow Digital IDs, More Mobile Payments Could Follow
A nascent movement among states to allow citizens to store a driver’s license or other state ID card in a mobile app could give mobile payments a lift, according to research released early Wednesday. Arizona in March was the first state to allow its citizens the option of storing a …
Read More »Paya Launches a Platform to Drive Deeper Into the Utilities Market
The payments processor Paya Holdings Inc. on Monday announced UtilityConnect, an initiative aimed at deepening the Atlanta-based company’s involvement in processing for governments, municipal entities, and private utilities. The new portal, which features a redesigned user interface, features new services aimed at easing citizen payments to local governments, including settings …
Read More »Open Banking Will Soon Have a New Overseer As the CFPB Looks to Regulate Data Sharing
With data sharing via open-banking arrangements becoming increasingly vital in the payments business, the Consumer Financial Protection Bureau on Thursday released an outline of a “data-rights rule” it is preparing that would govern how consumers’ financial information is shared among players such as banks and payments companies. The proposed rule …
Read More »Mastercard Will Compete for Debit And Build out New Payment Flows, Its Top Brass Says
Mastercard Inc.’s top executives early Thursday underscored a strategy for the company involving a diversity of payment flows and new network opportunities such as open banking and cryptocurrency. At the same time, the company’s leadership made plain the company will compete for debit volume in the wake of a Federal …
Read More »Visa’s Top Executives See Little Impact from the Fed’s Ruling on Debit Transaction Choice
It was only a matter of time before the two big international card networks responded to a recent Federal Reserve requirement that issuers make at least two unrelated networks available to merchants for debit card transactions. Late Tuesday, Visa Inc.’s chief financial officer, Vasant Prabhu, said the impact of the …
Read More »Same-Day Payments Continue to Pay off in Volume Gains for the ACH Network
While the payments business moves toward real-time transfers, faster payments on the nation’s automated clearing house network continue their dramatic rise following a 10-fold increase in the transaction dollar limit earlier this year. Transactions cleared the same day they’re initiated totaled 176.6 million in the quarter ended Sept. 30, up …
Read More »BNY Mellon Launches Vaia, a Multi-Faceted Platform That Includes Real-Time Payments
BNY Mellon announced early Monday it has launched a payments platform called Vaia, which allows clients to offer real-time payments, same-day automated clearing house transfers, tokenized payments, debit cards, and payments through the Zelle peer-to-peer payments network. The nation’s 10th-largest bank by assets said the panoply of payments capabilities can …
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