With the Covid-19 pandemic helping fuel broad adoption of Quick Response codes by merchants for payments and ordering, it was only a matter of time before criminals exploited the contactless technology. Fraudsters are creating fake QR codes that, when scanned, take consumers to a bogus landing page that collects payment …
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The Federal Reserve’s FedNow real-time payments platform will charge a monthly $25 participation fee for each receiving routing transit number, 4.5 cents per credit transfer to be paid by sender, and a penny for a request for payment message, paid by requestor. The Fed expects to release a full fee schedule later this …
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Visa Inc.’s top executives made it plain Thursday afternoon that the story of the company’s growth into the near future is threefold, including cryptocurrency, cross-border transactions, and the buy now, pay later trend. “Visa is enabling scale for BNPL, crypto, and wallets,” Visa chief executive Alfred Kelly told equity analysts …
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The vision of turning mobile devices into tap-and-go POS terminals took a big step forward Thursday as MagicCube Inc. announced i-Accept Cloud, an open, cloud-based softPOS acceptance platform. i-Accept Cloud is expected to simplify the creation of new merchant payment acceptance and digital commerce solutions. By connecting the currently siloed …
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Top executives at Mastercard Inc. made it plain early Thursday the card network is determined to develop its account-to-account payment capabilities, while maintaining its distance from the dispute between its rival Visa Inc. and the e-commerce juggernaut Amazon.com Inc. over transaction pricing. “That’s fundamentally a question for Visa and Amazon,” …
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Consulting firm The Strawhecker Group announced its list of best-performing payment gateways in a range of categories. CSG Forte and FIS (Express) were co-winners in the best-performing gateway category, with JPMorgan Chase (Orbital) as runner-up. Elavon (Fusebox) won for fastest transactions.With the majority of buy now, pay later accounts going unreported to …
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The turbulent story of the Diem digital currency recorded yet another twist with reports on Tuesday that the two-and-a-half-year-old project is seeking to dispose of its assets. The latest news, first reported by Bloomberg, comes less than a year after the Diem Association moved its headquarters from Switzerland to the …
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On Tuesday, Plaid Inc., a bellwether of the open-banking movement, announced the availability of Plaid Portal US, a privacy tool for consumers using Plaid’s technology. The move comes as firms that connect financial-services providers with consumer-account data seek to help account owners manage how their information is distributed and used by …
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Payments provider Lightspeed Commerce Inc. announced new features for its Lightspeed Restaurant point-of-sale technology, including order throttling, a feature that helps manage spikes in demand.Software firm Launch Cart said it will introduce on Feb. 2 its On-Demand eCommerce SaaS platform, intended to ease entry into e-commerce for small business owners and entrepreneurs.Payments provider Paysafe Ltd. said …
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Seeing an opportunity to offer payment acceptance along with its encryption and tokenization technologies to its enterprise clients, Bluefin Payment Systems LLC has invested an undisclosed sum in payment facilitator Payfactory Inc. The investment, which will create a strategic relationship between the two companies, will enable Payfactory to expand its …
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