Acquiring

Toast Inc., provider of popular payment and business-management systems for restaurants, is testing a 99-cent fee for online orders of $10 and above that the company could roll out nationwide next month. The test is generating criticism from restaurateurs on social media and debate in the merchant-acquiring industry about pricing …

JPMorgan Chase has extended its JPM Coin, a blockchain-based settlement token launched in 2019, to euro-denominated payments. More than $300 billion has been processed on the coin since its inception. Transact Campus, a payments provider specializing in colleges and universities, announced it has reached the 1-million mark for number of student mobile …

It’s been a busy June for Fortis Payment Systems LLC. The payment facilitator and independent sales organization announced Thursday it is moving into Canada, has acquired payments provider SmartPay, and has added new funding and settlement capabilities. Also Thursday, merchant processor FreedomPay Inc. said it is integrating Visa Inc.’s tokenization …

Open banking specialist Plaid launched Plaid Beacon, an anti-fraud network for fintechs and financial institutions. The fintech Karma Wallet has allied with card-issuing platform Marqeta Inc. to introduce a prepaid card offering cash-back rewards from merchants said to be local, ethical, and sustainable. PayEm, a spend-management platform, has integrated with American Express to allow …

Digital-banking platform Tyfone Inc. said it will work with One Credit Union to offer a real-time payment service certified for FedNow, the national real-time payments system that the Federal Reserve is expected to launch next month. Jane Technologies Inc. introduced a point-of-sale system customized for cannabis stores. Smart Pay has launched its Smart Pay …

Jack Henry & Associates has launched PayrailzFraud Monitor, a real-time fraud-monitoring technology for payments. The cloud-native solution, which Jack Henry describes as an enhancement to its Payrailz platform, uses artificial intelligence, machine learning, and behavioral analytics to detect payments fraud as the fraud is occurring, with a scope including peer-to-peer and …

Helcim Inc., a Calgary, Alberta-based payments provider, launched its Helcim Smart Terminal, which it says carries no contract or monthly fees. The device, which uses the Android operating system, is priced at $349 (C$429) and will be available this summer. Among its technical capabilities is a built-in printer, a large …

Merchants using the Shoplazza online-commerce platform can accept payments via Citcon’s technology following an integration between the two companies. A Swiss-Israeli company called Okoora launched Automatic Business Currency Management, an integrated platform for global payments, banking, and risk management. The 10-year-old cryptocurrency-payments platform Wyre said it is shutting down and advised users to withdraw their assets …

For decades, payments providers have sought to displace cash by attempting to move merchants toward card-based and digital payments, arguing that they are faster, more convenient, and more secure to accept than cash. Now they are finding that proponents of cash acceptance are pushing back. Late Thursday, legislation was reintroduced …

Online merchants that offer so-called accelerated payment methods such as Meta Pay, Amazon Pay, PayPal, Shop Pay, Apple Pay, and Google Pay potentially raise conversion rates by up to 50%. That’s according to “Leading Online Shoppers to the Finish Line,” a study of more than 220,000 e-commerce sites by Shopify …