Credit Cards

Visa Inc. reported $8.6 billion in net revenue for its December quarter, up 9% year-over-year, on $3.9 billion in credit and debit card volume, up 7.8%. Apple Inc. announced changes to iOS, Safari, and its App Store to meet European Union rules, including new options on its App Store to use payment …

A new way of shopping using the PayPal app and related services is in the offing. Announced Thursday, the update includes a one-click guest checkout experience, digital receipts PayPal calls Smart Receipts, a revised offers platform, and improvements to business profiles for Venmo, its social peer-to-peer payments service. The moves …

Klarna AB, a buy now, pay later provider, is entering the subscription arena with the U.S. launch of Klarna Plus. For $7.99 a month, Klarna Plus enables eligible consumers to earn double rewards points on their purchases, pay no service fee when using Klarna at merchants outside of the Klarna …

Subscription management specialist Recurly Inc. released its 2024 State of Subscriptions report that found 45.5% of consumers chose debit as the subscription payment method, followed by credit cards, 33%, PayPal, 19.3%, and other alternative payment methods, 2.2%. Wise, a platform for international money transfers, said junk fees associated with credit cards and …

In today’s fast-paced business landscape, efficiency and quality are essential for staying ahead of the competition. Straight-through processing (STP) is a solution that enables businesses to expedite financial transaction processing while reducing errors and eliminating repetitive tasks. In both accounts payable and accounts receivable, STP can transform the way payments …

Synchrony Financial said it will acquire the point-of-sale financing business of Ally Financial Inc. The portfolio includes $2.2 billion in loan receivables and includes relationships with nearly 2,500 merchant locations and more than 450,000 active borrowers in home improvement services and health care. Terms were not disclosed. Alchemy Pay, whose gateway …

Sound Payments issued a slate of updates for its point-of-sale system, including a way for retailers to categorize returns. Jacksonville, Fla.-based Sound Payments says the new return-categories feature enables merchants to catalog returns by size, reason for return, defective, and other custom variables. It also has a reporting component for …

UnionPay, an international payment card network based in China, said it is now accepted in 183 countries and regions, with issuance outside the Chinese mainland exceeding 230 million cards in 81 countries. Issuance outside Mainland China commenced in January 2004. Consumer-finance and card issuer Synchrony said it is testing a browser extension …

Giant payment processor Fiserv Inc. wants to take on another aspect of the business with its application for a special bank charter in Georgia. The charter for a merchant-acquirer limited purpose bank, if approved, would enable Brookfield, Wis.-based Fiserv to interact with card networks directly instead of operating through a …

Banking giant Bank of America Corp. reported combined credit and debit card volume of $228.9 billion for the fourth quarter, up 3% year-over-year. The number of BofA users of the Zelle peer-to-peer payments network grew 18% to 21.5 million, while Zelle volume climbed 25% to $101 billion. Late in 2021, the …