Credit Cards

The Covid-19 pandemic is driving consumers and merchants to opt for contactless options, and now software that can enable an ordinary smart phone to accept cards via near-field communication is moving faster toward the point of sale. Visa Inc. on Wednesday granted a so-called security compliance allowance to MagicCube Inc.’s …

Sysnet Global Solutions said it acquired the Managed Complication Solutions division of ControlScan Inc. With the acquisition, Sysnet said almost 4 million small and mid-size businesses and payment processing companies use its services. Terms were not disclosed.Fido Merchant Services, a United Kingdom-based payment gateway and merchant services provider, is embarking on …

The Libra Association, the organization behind the Libra cryptocurrency project, said it is renaming itself Diem, Latin for “day.” Acknowledging pressure from governments and regulators worldwide, the association this spring changed course on several key strategies, setting out new plans for single-currency stablecoins and a stronger compliance regime.Commerce platform Shopify Inc. said its merchants had …

Commerce platform Shopify Inc. reported $2.4 billion in global Black Friday sales, a 75% increase from 2019. Black Friday is the Friday following Thanksgiving. Mobile sales accounted for 68% of U.S. transactions and desktop, 32%. Top U.S. cities were New York, Los Angeles, and Vernon, Calif. The average ticket of $93.80 was …

Unlike Visa and Mastercard, Plaid is not just another credit and debit card company largely beholden to the big banks. It uses modern technology, in a sector that has been slow to adopt it, to create a new payments paradigm. It likely has no plans to issue cards or use …

Some 81% of U.S. consumers have used a one-click payment method while shopping online, with 37% using the method “frequently,” according to a survey earlier this month of 961 consumers by The Strawhecker Group and the Electronic Transactions Association.Switched dollar volume and switched transaction volume for Mastercard Inc. in the week ending Nov. 21 were both …

The future of digital payments is being created now with the adoption of contactless payments, new digital transactions such as buy online, pick up in store, and reduced friction within the payments ecosystem. That’s the assessment in the “Future-Proof Payments: From the EMV Chip to a Fully Digital Future” report …

Payment Alliance International Inc. said its fleet of more than 95,000 ATMs will redeem Bitcoin for cash under an agreement with B4U Financial LLC, whose BitLoad4U technology will manage authorization, clearing, and settlement and allow redemption from any cryptocurrency mobile wallet.A Bitcoin variant called Bitcoin Latinum announced a pre-sale launch with availability on exchanges in …

Visa Inc. has formed a partnership with virtual-payments technology provider Conferma Pay to launch Visa Commercial Pay, a venture in virtual commercial cards. Available globally, the suite will be available from Visa’s financial institution clients. Visa and Conferma Pay have a long-standing relationship. “Consumerization of [business-to-business] payments has significantly accelerated during …

Credit cards historically have either been secured by a deposit or tied to a credit limit that remains fixed over time. On Friday, a Toronto-based payments-technology provider announced it is developing an unsecured card that comes with a credit line that varies with cardholder behavior. The Visa-branded Vert card, managed …