Debit Cards

They’ve been the subject of intense debate for several years now, but evidence from the Southeast Acquirers Association annual conference Tuesday shows interest among independent sales organizations in discounts for cash and credit card surcharges is as high as ever. About 800 people attended the Atlanta confab that concluded Wednesday, …

Merchants will be able to choose merchant services from T-Mobile US Inc. now that the wireless carrier has launched GoPoint, a new product that includes one-price processing and mobile card readers. With processing provided by Total System Services Inc. (TSYS), GoPoint is aimed at small and medium-size businesses. The service …

Citigroup Inc. says its treasury and trade solutions unit is building a capability to allow consumers to make payments to institutions. Payment methods will include cards, e-wallets, and new bank-transfer services such as request to pay and open banking. Chosen Payments said Hudson Software Inc., developer of software for the …

Thirty-five merchants in the Silicon Valley area are accepting the new Yosemite Card, which caps acceptance fees at 0.3%. The private credit card can do that because it uses blockchain technology to manage transactions. Typical discount rates for network-branded credit cards range from 2% to 3% or more. Palo Alto, …

Apple Inc. on Monday is expected to make several major announcements, possibly including one regarding a credit card it is reportedly developing with Goldman Sachs Group Inc. that would work with the iPhone and Apple Pay, according to news services. Apple’s iOS 12.2 update will integrate a new wallet app …

Debit card issuers subject to the Durbin Amendment’s interchange price controls saw their average authorization, clearing, and settlement expense, excluding fraud, fall to 3.6 cents per transaction in 2017, down 54% since 2009, the Fed reported Thursday. The Durbin Amendment to 2010’s Dodd-Frank Act requires the Fed to issue a …

Mastercard Inc. announced contactless-payment capability will go live in 20 U.S. cities “within the next few years,” starting with subway and bus systems later this year in New York City, where the company is working with transit-technology firm Cubic Transportation Systems. Bitmo, a startup that offers mobile gift cards that …

Avnet Inc., a technology supplier for industries as diverse as automotive, communications, energy, and wearables, quickly has found that accepting Bitcoin via BitPay Inc. is a hit, especially with the Bitcoin mining industry. Atlanta-based BitPay announced this week that Phoenix-based Avnet uses it for Bitcoin and Bitcoin Cash transactions. With …

As more and more companies adopt tokens as a proxy for the primary account number and other sensitive payment data, the day is fast approaching when the utility of the technology will move beyond the payments box. That’s the forecast from Nate Morgan, senior director for product management at CyberSource, …

Banking giant JPMorgan Chase & Co. is discontinuing its Chase Liquid general-purpose reloadable prepaid card and replacing it with a checking account called Chase Secure Banking, which has many of the same features but requires the customer to open a Chase bank account. Launched in 2012 and aimed mainly at …