Credit Cards

The Consumer Financial Protection Bureau has filed a petition with the U.S. District Court for the Northern District of California seeking to require Block Inc. to fully comply with the CFPB’s demands for information related to Block’s Cash App product, according to Bloomberg. Block said it is “disappointed” with the action and …

Payments provider Celero Commerce has acquired Community Bankers Merchant Services, a provider of electronic transaction processing through community and regional banks across the country. Terms of the deal, announced late Thursday, were not disclosed. The acquisition of CBMS will open the door for Celero to provide processing services to merchants …

Consumers are spending significantly less on their primary credit cards, says J.D. Power’s 2022 U.S. Credit Card Satisfaction Study. Overall, credit card holders are allotting 42% of their monthly spending to their primary credit cards, down from 47% in 2021 and 2020, and down from 50% from 2019. That decline …

Tulip.io Inc., a Toronto-based point-of-sale system provider, said it has a certified integration with Moneris Solutions Corp., a large payment processor in Canada. Moneris had a U.S. presence prior to 2016 when it sold the U.S. business to Vantiv Inc.The Western Union Co. said it has renewed an agreement to support digital …

Bread Financial Holdings Inc. on Monday released a performance update for July, indicating it posted credit card and other loans totaling $17.8 billion last month, a 12% year-over-year increase. The Columbus, Ohio-based provider of personalized payment, lending, and savings solutions said average credit card and other loans for the month …

The card-issuing platform Marqeta Inc. on Wednesday reported processing volume of $40 billion for the June quarter, a 53% increase over the same time last year, but the 12-year-old company also announced its founding chief executive is leaving that position. Jason Gardner, a well-known payments entrepreneur, said he will move …

Bruce Lowthers took over a stumbling Paysafe Ltd. back in May, and now with three months evaluating the company behind him, the new chief executive early Wednesday offered encouragement mixed with some tough talk. Speaking particularly about product innovation, Lowthers lowered the boom, citing what he sees as an imbalance …

Restaurant-technology provider ParTech Inc. announced it has acquired Menu Technologies AG, an omnichannel ordering platform serving international restaurant brands. Terms were not disclosed.The Western Union Co. expanded its integration of Visa Direct, Visa’s real-time payment service, to its U.S. network, enabling consumers to send or receive funds directly to their eligible Visa debit …

Increasing issuance of contactless cards, along with stronger demand from instant-issuance platforms, are generating tailwinds for at least one of the companies that produce payment cards. CPI Card Group Inc. early Monday cited these factors in reporting record sales for the June quarter, leading top executives at the Littleton, Colo.-based …

MoneyGram International Inc. said its MoneyGram Online digital service had second quarter revenue of $53.3 million, up 13% from $47 million in the same quarter in 2021. Its overall revenue of $329.6 million in the quarter, was up slightly from $329.3 million revenue in the 2021 second quarter. MoneyGram posted a …