Acquiring

The story of debit cards in the pandemic year of 2020 turns out to have several chapters—including higher average tickets, a sharp swing to card-not-present usage, a dramatic surge in contactless adoption, and higher mobile-wallet usage. Meanwhile, account-to-account transfers turned out to be the fastest-growing form of debit, though usage …

Building on a strategy of growing share of payments in the unattended retail market, Cantaloupe Inc. announced Tuesday its acquisition of Delicious Nutritious LLC, a Los Angeles-based micro-market payments company that operates under the trade name of Yoke Payments. The purchase price was not disclosed. The deal gives Cantaloupe, which earlier this …

The overall costs of phishing attacks on businesses have nearly quadrupled since 2015, rising from average losses of $3.8 million per company in 2015 to $14.8 million in 2021, according to research from cybersecurity and compliance company Proofpoint Inc. and Ponemon Institute.Uplift Inc., a buy now, pay later provider specializing in travel, …

Open banking has been a big trend in payments for some time, and now traditional payment processors are getting in on the action. Paysafe Group Holdings Ltd. early on Monday announced it has agreed to pay $441 million to acquire Miami-based SafetyPay, a 15-year-old provider of digital payments for cash-paying …

Mastercard Inc. said it will slowly phase out the requirement that its branded cards have a magnetic stripe in favor of the EMV chip. Beginning in 2024, in most markets, newly issued Mastercard credit and debit cards will not be required to bear the magstripe. By 2033, Mastercard said none of …

With consumer use of mobile wallets growing, supermarket chain Giant Eagle, Inc. is adding PayPal and Venmo acceptance at checkout in its 474 Giant Eagle supermarkets and GetGo convenience stores. The move, announced Thursday, furthers PayPay Holdings Inc.’s efforts to capture in-store transactions through its mobile wallet. PayPal began its …

Western Union Business Solutions (WUBS), formerly a unit of the Western Union group of companies, will rename itself Convera upon its recently announced $910-million acquisition by Goldfinch Partners LLC and The Baupost Group LLC. Patrick Gauthier, most recently head of Amazon Pay, has been announced as chief executive of Convera, which …

In response to small and mid-size businesses’ need for capital as the economy re-opens in the wake of the Covid-19 pandemic, payment-technology provider Veem Inc. on Thursday introduced two new short-term lending options as part of its Veem Capital offering. The first option, Pay Later, allows small and mid-size businesses …

The U.S. Department of Justice on Wednesday lent its weight to a proposed rule from the Federal Reserve Board that would reinforce merchants’ choice of networks for e-commerce transactions arising from debit cards. At the same time, it suggested the rule could be made more stringent. Justice’s support for the …

EBay Inc. reported some 80% of its on-platform payments volume was processed through its managed-payments service by the end of the second quarter. More than 13 million sellers globally were using the platform.Payment card manufacturer CPI Card Group Inc. said consumers’ shift to contactless cards, which command a higher price than ordinary plastic, helped drive …