Credit Cards

Seven months after paying $260 million for Sage Payment Solutions, the U.S. merchant-services arm of Sage Group plc, investment firm GTCR LLC is giving it a new name—Paya—and a refreshed strategy to add more merchants to its portfolio. Announced Tuesday, the Paya name for the Reston, Va.-based payments provider signifies a …

Investors gave Starbucks Corp. the cold shoulder Friday morning on news that despite a record $6.1 billion in quarterly revenues, growth is slowing in the United States. But the coffee giant’s payments business has several initiatives brewing, executives reported late Thursday. A leader in closed-loop prepaid cards and mobile payments …

Last year was a year of revival for Discover Financial Services’ long-suffering Pulse debit network, which posted a 19% fourth-quarter increase in year-over-year dollar volume on 15% more transactions. The strong finish—$42.4 billion in volume on 1.03 billion transactions—brought Pulse’s full-year volume to $157.1 billion, up 14% from $138 billion …

Fraud-prevention specialist Tender Armor LLC intends to use the proceeds from its latest funding round to hire more personnel and launch its marketing efforts. Announced Thursday, the funding round, for an unspecified amount (though characterized as “multimillion”), is a big step in growing the startup, says Madeline K. Aufseeser, chief …

For decades, merchants have had to install specially designed and built devices to allow customers to enter their personal identification numbers for debit card payments. And lately, that has been the case for EMV cards, as well. But on Wednesday, that changed as the PCI Security Standards Council published a …

Bank of America Corp.’s Merrill Lynch subsidiary on Monday announced enhanced capabilities for its Virtual Payables service, including the ability by corporate card-using businesses to create single-use account numbers in real time. In addition to the single-use card numbers, businesses with a BofA Merrill purchasing card can connect directly to …

About a year later than it intended, Amazon.com Inc. on Monday opened to the public an 1,800-square-foot convenience store in Seattle that promises to streamline physical shopping and payment as the company has for decades smoothed out the wrinkles in e-commerce. Along with Amazon’s $13.7 billion acquisition last year of …

Unlike its rivals Visa Inc. and Mastercard Inc., American Express Inc. depends crucially on revenue from the fees it charges merchants for acceptance. These fees, in fact, account for 57% of the company’s overall revenues net of interest expense. So it came as no surprise that AmEx’s top brass spent …

With the merger between Vantiv Inc. and Worldpay plc finalized, the combined organization, known as Worldpay Inc., will get to the tasks at hand, says Shane Happach, Worldpay executive vice president and head of its global enterprise e-commerce. Chief among them will be developing its technology and growing the company, …

Financial-services providers experienced a 105% increase in the fraudster attack rate from 2015 through 2017, reports ThreatMetrix Inc., an authentication and fraud-mitigation provider, in its “Cybercrime Report 2017: A Year in Review,” released on Tuesday. E-commerce merchants, too, experienced greater fraud, with the log-in attack rate growing by 170% from …