As money movement gets faster, consumer expectations are increasingly pushing payments providers to make funds available sooner. PayPal Holdings Inc. on Tuesday bowed to that reality with the latest in a series of faster-payment services. The new service, called Instant Transfer to bank, relies on connections to real-time payments pioneer …
Read More »An Analyst Argues Historic Patterns Could Augur a Soaring Price for Bitcoin
Could the price of Bitcoin be headed back up into the stratosphere? One noted analyst is saying it’s a distinct possibility. Based on what he sees as recurring patterns in the cryptocurrency’s pricing history, Michael Graham says Bitcoin could be starting its upward climb now toward the neighborhood of $20,000, …
Read More »Eye on Contactless: CPI Card Group Sees ‘Gradual’ Growth for Dual-Interface EMV; A Cashless Forecast
Observers of the U.S. payments market who have been expecting a surge in conversions to dual-interface cards may have been disappointed Wednesday morning as CPI Card Group Inc., one of the nation’s biggest card manufacturers, said it expects “dual interface to grow gradually as a proportion of the U.S. market” …
Read More »The NFC Forum’s Latest Spec Is Aimed Squarely at QR Codes
Backers of near-field communication technology for mobile payments made it plain on Tuesday they’re ready to fight back against quick-response codes, a rival technology that has won support not only from giant systems like China’s Alipay and WeChat Pay but also domestically from merchant apps from big chains like Walmart …
Read More »Kroger Steps up the Pressure on Visa With Another Ban on the Network’s Credit Cards
The Kroger Co. on Friday opened a new front in its battle with Visa Inc. over acceptance costs with an announcement that it will stop accepting Visa credit cards at its Smith’s Food & Drug Stores chain, which operates 134 stores in seven Western states. The ban is set to …
Read More »ACI Agrees to Acquire Speedpay for $750 Million in a Bid to Bulk up Bill-Pay Muscle
ACI Worldwide has agreed to lay out $750 million in cash to buy Speedpay Inc., the digital bill-payment business that has been part of The Western Union Co. for 17 years. The deal, announced early Thursday, will bulk up ACI’s bill-payment processing business at a time when trends like digital …
Read More »Square Posts Strong Growth for Cash App, Its Entry in the Hot P2P Payments Market
Square Inc. is rapidly growing into a heavyweight player in the hard-fought market for peer-to-peer payments. The San Francisco-based company had 15 million active users in December for its P2P product, Cash App, a number that doubled from December 2017, the San Francisco-based company disclosed on Wednesday. That’s still well …
Read More »Consumer Finance at the Point of Sale Takes a Big Step Ahead As Affirm Clinches a Walmart Deal
The 7-year-old startup Affirm Inc. has already signed up more than 2,000 merchants to accept its instant-financing option, but on Wednesday it announced it had bagged the biggest one of all: Walmart Inc. In a move that extends Affirm to the physical point of sale in a major way, users …
Read More »A Year Into His Own Merger, Worldpay’s CEO Offers Advice to Fiserv And First Data
The global processor Worldpay Inc. is beating its own expectations in knitting together the assets combined in the huge merger of Vantiv Inc. and Worldpay plc and is looking to make more acquisitions this year, top executives said Tuesday. Speaking to stock analysts to discuss Cincinnati-based Worldpay’s fourth-quarter and full-year …
Read More »Network Fee Boosts Are Taking a Big Bite out of Merchants’ Durbin Savings, Research Says
A bevy of fees levied by the two major card networks is offsetting much of the fee relief merchants receive from the 7-year-old Durbin Amendment, according to new findings from a payments-research firm that is studying the issue on behalf of the retail industry. While the Durbin caps on debit …
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