[UPDATED TO REFLECT A STATEMENT FROM PAX] A report released on Tuesday detailing a raid by federal investigators at a Florida warehouse linked to Pax Technology Inc. has stunned the payments industry and left some observers concerned about the big point-of-sale device maker’s reported reaction to allegations its technology was …

The rapidly unfolding buy now, pay later business holds huge potential for point-of-sale lenders but flashes caution signs for players that jump in without doing their homework, a panel of experts said Tuesday at the Money 20/20 exposition in Las Vegas. The BNPL product, which generally allows shoppers to pay …

Microsoft Corp. will significantly expand its processing arrangement with the big Worldpay unit of FIS Inc. to include the Americas, Europe, and Asia-Pacific under a new agreement announced Tuesday. The agreement will support credit and debit card transactions Microsoft receives on online properties, including Xbox, Microsoft Advertising, and Microsoft Azure, …

It has been known anecdotally over the past year that the impact of the Covid-19 pandemic has shifted consumers to digital payments. On Monday, survey results emerged to show just how extensive that shift has been. Roughly one-third of consumers who now use such services as digital wallets, peer-to-peer payments, …

American Express Co. reported strong results Friday morning for its third quarter as its top executive said the company hasn’t exhausted its interest in acquisitions, though he added the New York City-based payments company is cool to the prospects for cryptocurrency as a medium of exchange. Chief executive Stephen Squeri …

The big open-banking provider Plaid Inc. on Thursday launched a major international campaign to support so-called account-based payments, working in league with almost 50 fintech companies and service providers in North America and Europe. The partners include long-time Plaid allies Dwolla Inc. and Square Inc., as well as new connections …

Driven by a surge in business-to-business and health-care claims payments, transactions on the nation’s automated clearing house network swelled 7.7% year-over-year in the third quarter, according to Nacha, the organization that governs the network. Transactions totaled 7.3 billion, up by 520 million, while dollar volume totaled $18.1 trillion, a 13/8% …

In a move aimed in part at accommodating digital-only financial institutions, Visa Inc. on Saturday opened its ReadyLink prepaid top-up network for the first time to debit cards. “The expansion makes Visa ReadyLink available to all consumer and business debit cards. The service is optional and issuers need to opt-in,” …

The global shortage of semiconductor chips that’s plaguing the makers of point-of-sale terminals and other payment devices has left at least one technology firm sitting pretty, its founder and chief executive says. “It’s wind in our sails,” says Sam Shawki, chief executive of MagicCube Inc. That’s because MagicCube’s technology enables …

In a deal that could have important implications for payments providers like Square Inc. and Stripe Inc., the United Kingdom’s SumUp Inc. early Thursday announced it has acquired Fivestars Loyalty Inc., a San Francisco-based payment facilitator for some 12,000 small businesses. The acquisition, SumUp’s first in the U.S. market, calls …