Eric Cohen’s Commentary, “Whey the Credit Card Competition Act Falls Short,” posted here Oct. 9, makes three key claims about how the Credit Card Competition Act would supposedly harm small businesses and consumers. All of them are wrong.First, he says the bill would allow merchants “to choose their own network” …
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The Payments Innovation Alliance released what it calls a tabletop exercise designed to help small and mid-size businesses prepare defenses against a cyberattack. The PIA is part of Nacha, the network operator for the automated clearing house network. Transact Campus Inc., a payments platform specializing in college campuses, announced a technical …
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Celero Commerce announced late Wednesday it has acquired Finical Holdings LLC for an undisclosed sum. The acquisition, which is the tenth Celero has made since its launch in late 2018, will increase the company’s annual card processing volume to $25 billion and enlarge its presence in the Southwestern U.S. market, …
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Processor Worldline is adding a flexible payment element to its revenue-share model for its North America partners servicing e-commerce merchants. And, payments provider Payroc says it will be the launch partner for the Ingenico Axium point-of-sale terminal line. Worldline’s new product, called FlexCommissions, enables its software and independent sales organization …
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Presto Automation Inc. says its voice-ordering system for restaurants represents a $17-million annual revenue opportunity as the company finishes its first full year as a public company. San Carlos, Calif.-based Presto finished the fiscal year ended June 30 with revenue of $26.1 million, a 14.1% decrease from $30.4 million the …
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Payments platform Klarna AB announced a series of new services, including Shopping lens, which enables shoppers to take a picture of an item in their surroundings to find out where to buy it on the best terms. The service uses artificial intelligence to render the item in a search term. Technology consultancy Thoughtworks said …
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Orum, a provider of technology for payment processing and account verification, announced Tuesday the launch of Verify, an account-verification solution for FedNow, the Federal Reserve’s instant-payment service, which launched in July. With Verify, businesses initiating a payment through FedNow can validate, within 15 seconds prior to sending funds, whether a …
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Paze, an online wallet still in development, will be available to merchants using GoDaddy Inc.’s Web services. Paze is available for testing to select U.S. businesses on the GoDaddy platform. In March, at the announcement of Paze, Early Warning Services LLC, its developer, said full availability would arrive this autumn, …
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The Credit Card Competition Act (CCCA) looks to be headed for a vote before the end of the year, spurred in part by Sen. Dick Durbin’s recent urging that it be brought to the Senate floor. While the Illinois Senator is of the mind it will help increase industrywide competition …
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Rainforest, an Atlanta-based platform for embedded payments, has closed on an $11.75-million seed funding round led by Accel. Beverly, Mass., has contracted with Passport for support of mobile payments for parking in the town. Passport claims more than 800 cities and other entities using the app. Instant Financial, a provider of earned-wage …
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