The Western Union Co. announced customers will be able to send money via the company’s digital service directly to Visa and Mastercard cards through an integration with Paysend, a card-to-card payments platform. Lightspeed Commerce Inc. launched several new features including artificial intelligence-assisted menu creation, better insights into popular items, staff performance tools, …
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More than four years after it began testing its own blockchain-based stablecoin, JPMorgan Chase & Co. is processing $1 billion in transaction volume per day for JPM Coin, Takis Georgakopoulos, JPMorgan’s global head of payments, told Bloomberg News during an interview. Created in 2019 and launched in 2020, JPM Coin …
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Two point-of-sale companies have separately taken steps to boost their competitiveness, one with an acquisition and the other in a marketing expansion. Payments platform Nayax Ltd. says it will acquire Folsom, Calif.-based Retail Pro International in a $36.5-million deal. Expected to close in the fourth quarter, the deal will expand …
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Payments processor Elavon announced its global acquiring multi-currency conversion services will support transactions for the airline Virgin Atlantic. Elavon, a unit of U.S. Bancorp, says it serves more than 100 airlines among its client base. Canadian banking giant BMO said it will begin offering Visa Inc.’s Installments payments service next year. Visa launched Installments …
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Lyric.ai, a provider of artificial intelligence-based payment accuracy solutions for healthcare payers, has partnered with Codoxo, an AI-based cost-containment platform provider, to improve payment accuracy processes for health-plan payers. Lyric will offer Codoxo’s ClaimPilot, Audit Scope, Payment Scope, Provider Scope, and Fraud Scope applications to its customers via LyricIQ, its …
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Like a thunderclap, on Oct. 25 the stock price of continental Europe’s biggest payment processor, Worldline, plummeted 59%. It’s down a whopping 88% from its high in April 2021. Macroeconomic conditions are to blame, but so are Worldline-specific factors. The reign of easy money is over. Easy money inflates valuations. …
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European transaction processors are getting hammered by slowing economies and increased regulatory scrutiny. Shares in the big French processor Worldline slid 59% on Wednesday, followed by a feeble recovery Thursday. AppTech Payments Corp. announced it has closed on its acquisition of Alliance Partners LLC. The deal brings to AppTech FinZeo, Alliance’s money-movement software …
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The Federal Reserve Board’s proposal Wednesday to make a 31% reduction in the main component of its debit card interchange ceiling for large issuers touches on a longstanding sore point among merchants and has already sparked a spirited debate in the payments industry. Merchant groups, long riled by debit card …
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Mastercard Inc. posted strong third-quarter results of $6.5 billion in revenue, up 12% from $5.8 billion in the 2022 third quarter. The card giant’s net income of $3.2 billion increased 28% from $2.5 billion in the year-ago quarter. Mastercard cited cross-border payment volume growth of 21% in the quarter as one …
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With potential regulation of credit card interchange looming and with the unwavering demand from merchants for lower card-acceptance costs, the possibility that interchange as it’s known today may dramatically change can’t be entirely dismissed—but don’t count on its demise. That was the conclusion at the Money 20/20 trade show this …
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