Acquiring

The Federal Reserve announced the 22 members of its new Fraud Definitions Work Group, another component of its sweeping Payment System Improvement Project. The group, which comes from the banking and payments industries, regional Fed banks, and other organizations, will work with Fed leaders on recommendations for improving the quality …

So-called shoppable ads could get a big boost if a tap-and-buy test announced Tuesday by Facebook Inc.’s Instagram social network succeeds, a test in which PayPal Holdings Inc. is the payment processor. Other social networks and Internet sites have rolled out or begun testing shoppable ads, including Pinterest, Snap Inc.’s …

Fifty-nine percent of consumers cited the ability to pay quickly as a reason they use peer-to-peer payments apps, according to a survey of more than 380 consumers from Tallwave, a digital-services firm. More than 65% have used PayPal and 37% have used Venmo, PayPal’s P2P payment service. Verifi Inc. launched …

The other shoe has dropped. Fidelity National Information Services Inc.’s $43-billion cash-and-stock deal to acquire Worldpay Inc., announced early Monday, will create a processing behemoth that will compete globally across a sweeping range of payments businesses, including merchant acquiring, e-commerce, faster payments, and core processing. And though the bosses of …

Close observers of the payment-processing industry predicted Fiserv Inc. would start a merger wave when it announced its $22 billion deal to acquire First Data Corp. in January. That prophecy seems to have come true with the even bigger $43 billion FIS-Worldpay merger announced Monday, and the consolidation wave probably hasn’t …

SpotOn Transact LLC said it will integrate Poynt Inc.’s smart point-of-sale terminal into its platform. SpotOn said it is the first to work with Poynt to integrate loyalty, marketing, and POS software directly into the terminal hardware. Synchrony Financial expanded the merchant categories eligible to accept its Synchrony Car Care …

In a time when criminal access to consumer data has never been more common, merchants continue to experience pervasive and persistent fraud attempts. That’s the key takeaway from the 2019 sixth annual Fraud Attack Index from Forter Inc. released Thursday. How bad is the problem? Fraud grew in 2018 in …

First Data Corp. began talking with a potential merger partner identified only as ‘Party A’ more than a year before Fiserv Inc.’s $22 billion takeover offer for the big payment processor was announced, according to a proxy statement Fiserv and First Data filed this week. The lengthy document—more than 300 …

The Trump administration is considering sanctions that would ban Visa Inc., Mastercard Inc., and financial institutions from handling transactions in Venezuela, according to Reuters. The move would be aimed at restricting the ability of the Venezuelan government, headed by embattled president Nicolas Maduro, to access funds. IBM Corp. may be …

Aliant Payments said it added Bob Moore Auto Group as a client for cryptocurrency processing. The agreement will allow the auto dealer to accept Bitcoin, Ethereum, and Litecoin for cars, parts, and service at its Subaru dealership in Oklahoma City. Thales S.A. said Gemalto will operate as a separate company …