Acquiring

The Merchants Payments Coalition released a 30-second TV ad that says the Credit Card Competition Act, a measure that would stipulate merchants have credit card routing choices, would prohibit China’s credit card network UnionPay from processing U.S. credit card transactions. Currently, no regulation prohibits that the MPC says. The CCCA, if passed, would …

Though the big news about Discover Financial Services is its pending acquisition by Capital One Financial Corp., the acquiring segment remains vital to the card brand. “Our business model, being a network rail, is the right space for us,” Judith McGuire, Discover senior vice president of global products, told Digital …

Open banking, the ability for third-party developers to access financial data in traditional banking systems, as defined by Stripe Inc., may provide one component for a new payment type, at least one that has limited use today. Pay by bank, a payment method that enables an online payment without the …

American Express Co. reported first-quarter 2024 revenue of $15.8 billion, up 11% from the same period last year, and billed business of $367 billion, up 6%. Net income grew 34% to $2.44 billion. Affinipay, a payments platform specializing in the legal and accounting professions, said it has expanded its LawPay and …

The Cato Institute’s Nicholas Anthony warned recently that the Biden Administration is waging “a war on (payments-industry) prices.” The payments industry provides services funded by a range of fees paid by consumers and businesses. Demagogic regulators and politicians pillory industry fees as exploitative, as “junk fees,” and “a tax.” These …

Point-of-sale technology provider PAX Technology Inc. introduced Airlink, networking technology that provides payment connectivity in outdoor settings and other venues where wireless Internet or other network service may be unavailable or insufficient. Mastercard Inc. introduced what it calls a mobile virtual card app, which is aimed at financial institutions and supports the loading …

Visa Inc. on Wednesday unveiled enhancements intended to further remove friction from the customers’ payment experience for merchants of all sizes. The enhancements, which are being launched on Visa’s Acceptance Platform, were developed in response to merchants’ needs for simpler implementation of payments technology, Visa says. The enhancements include Developer …

The buy now, pay later specialist Klarna AB signaled its intention Wednesday to issue a new credit card in the U.S. market. The company said it has opened a waitlist for the product, which it calls a “new and improved Klarna Card.” The new Visa card, which does not offer …

Fiserv Inc. introduced Clover Kiosk for the hotly competitive restaurant payments market, along with what it calls an enhanced Clover Kitchen Display System. Ferry, a tip-payout specialist, has launched a payroll card and tipping platform nationally for casual-dining chain BJ’s Restaurants, which operates more than 200 locations in 30 states. U.S.-based …

Shift4 Payments Inc. says it has added a new business-intelligence module to its SkyTab POS platform for restaurants. The new module, aimed at dining establishments of any size, provides more granular data-filtering options for restaurants’ point-of-sale system, such as detailed transaction-management and revenue-center reporting. Chains can use the module to …