Debit Cards

The Accredited Standards Committee X9 Inc. said it is seeking participants for a newly-formed a study group on faster and real-time payments. The ASC X9 develops national and international standards for the financial-services industry.Payments-technology provider Payfacto Payments Inc. has partnered with Community Federal Savings Bank to launch a merchant-acquiring unit for the U.S. market …

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 …

Finally! No doubt, merchants throughout the country are applauding the Justice Department’s suit against Visa to stop its planned acquisition of Plaid, a potential competitor. For far too long, we’ve witnessed the growth of Visa’s dominance of the debit card business, which has come at a huge cost to America’s …

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 …

Independent ATM operators are lauding a proposed rulemaking from the federal Office of the Comptroller of the Currency they say would correct a history of denial of access to banking services for entrepreneurs that install and operate ATMs in retail stores and other locations. Observers say the rulemaking, if adopted, …