Credit Cards

Automaker Mercedes-Benz is enabling in-car fuel payments for users of its Mercedes pay+ service. Announced Monday, the service also integrates Mastercard Inc.’s Secure Card on File for Commerce Platform technology. Available initially only on select Mercedes models in Germany, the fuel payment app joins a parking-payment app the giant carmaker …

The number of digital transactions globally will rise 12% in 2024 to cross the 1-trillion mark, Juniper Research forecasts. Near-field communication (NFC) payments, otherwise known as tap-and-pay, will grow fastest, at 30%, followed by digital ticketing (19%), according to Juniper. The Canada-based commerce platform Shopify will enable payments for India-based e-commerce merchants directly on …

Most bankers know that today’s payments are broken. From keeping pace with evolving customer experiences, to navigating the changing regulatory environment, to overcoming competitive threats from nonbanks, many have become so frustrated they are debating whether to abandon some in-house payments channels entirely. Consumers, too, are becoming frustrated with the …

Supporters and U.S. Senate sponsors of the Credit Card Competition Act stepped up pressure to pass the bill Wednesday with a Washington press conference featuring Senators Dick Durbin (D-Ill.), Roger Marshall (R-Kan.), and Peter Welch (D-Vt.). The legislators attacked merchants’ card-transaction costs as price gouging and said the levies make …

Consumers have come to expect an electronic payment to happen in seconds with zero or few errors, but for organizations the situation is a little more fraught. At least that’s the feedback from a new report, “The State of Payment Operations 2023,” from Modern Treasury Corp., a payments and financial …

ACI Worldwide Inc. said it will work with Microsoft Corp. to make its Real-Time Payments Cloud available in Microsoft Azure, enabling financial institutions access to The Clearing House Payments Co. LLC’s Real Time Payments network and the Federal Reserve’s FedNow real-time payments service. Treasury Prime, an embedded-banking technology provider, said it …

Wise Transfer Ltd., a developer of software for cross-border transfers, announced its Wise Platform will complete transactions initiated through the Swift international payments platform at the option of financial institutions. In related news, IBM Corp. announced its IBM Payments Center, a software-development unit, has joined the Swift Partner Program, gaining access to …

The federal court overseeing a $5.54-billion settlement between millions of card-accepting merchants, on one hand, and Visa Inc. and Mastercard Inc., on the other, over interchange costs recently took several steps that ultimately could get payments out to merchants. But checks still won’t be in the mail for some time. …

Airlines Reporting Corp. announced it has started processing payments through its ARC Pay application programming interface for the online travel agency Business Travel Group LLC’s Business Class brand. The Western Union Co. announced it will offer free money transfers for funds consumers around the world send to Libya in the wake of severe …

Commerce platform FreedomPay said it will begin offering point-of-sale devices from Pax Technology Inc. in the second quarter next year. Visa Inc. announced it will deploy its real-time payments network, Visa Direct, to allow users of United Kingdom-based money-transmission platform Paysend to route payments to eligible Visa cards in 170 countries and territories. …