Acquiring

Payment orchestration has entered a new phase, evolving from a gateway or regional solution to include sophisticated global capabilities and services. This unlocks a set of powerful capabilities that allow businesses to customize on a global scale, turning on and off services by region, product, and sales channel, increasing authorization …

Some 38% of U.S. small businesses have tried generative AI tools—27% for fun and another 11% to run their businesses—according to an April survey of 1,003 businesses by Web-site provider and payments platform GoDaddy Inc. Such payments companies as Stripe Inc. have incorporated chatGPT, a form of generative AI, to support their …

Instant payments gratification continues to take hold among businesses and consumers. New evidence of that from a couple of Federal Reserve surveys shows that 83% of businesses and 75% of consumers already use some form of faster payments. Favorable sentiment toward instant payments could increase as 66% of businesses and …

Payments provider Priority Technology Holdings Inc. announced it has entered into a so-called stalking-horse agreement to bid on the assets of Plastiq Inc., an 11-year-old payments provider that has entered Chapter 11 restructuring. Terms of the bid were not disclosed. Freshmart, a Puerto Rico-based grocer with seven stores, said it has chosen eGrowcery to …

Four-year-old payments provider Green Payments said it has expanded into a new office after what it says was a “record year of portfolio and employee growth.” The company, which focuses on health care, hospitality, and automotive sales, says its portfolio grew 134% last year to a total of $1.2 billon in volume. …

Cantaloupe Inc., a specialist in micropayments, announced on Tuesday it has teamed up with Amazon Web Services Inc. (AWS) to use AWS cloud services and make AWS its preferred provider to handle transaction volume flowing through Cantaloupe’s merchant network. Cantaloupe, which specializes in payments technology for vending machines and self-service marketplaces, handles …

As part of a settlement with Citizens Bank, the Consumer Financial Protection Bureau is requiring the bank to pay a $9-million civil money penalty for its alleged failure to “properly manage and respond to customers’ credit card disputes and fraud claims.” The agreement is subject to approval by the court. UATP, a …

In the hotly competitive restaurant point-of-sale market, acquirers are constantly devising new products and enticements to attract these merchants. To that end, SpotOn Transact LLC said Monday it has released three new point-of-sale devices for restaurants, and Shift4 Payments Inc. has enlisted hospitality expert Jon Taffer in a contest. Announced …

The share of all payments using cash declined only modestly to 18% in 2022 from 20% in 2021, while the share of in-person and person-to-person payments has stayed constant at 81%, according to the Diary of Consumer Payment Choice from the Federal Reserve System’s FedCash Services. Sunmi Technology Co., a China-based point-of-sale …

Small businesses in Canada will reap lower interchange rates in that country, the Department of Finance Canada announced Thursday. The deal suggests a similar reduction is possible in the United States, the Merchant Payments Coalition quickly responded. Both Mastercard Inc. and Visa Inc. agreed to lower the domestic consumer credit …