Debit Cards

Western Union Business Solutions (WUBS), formerly a unit of the Western Union group of companies, will rename itself Convera upon its recently announced $910-million acquisition by Goldfinch Partners LLC and The Baupost Group LLC. Patrick Gauthier, most recently head of Amazon Pay, has been announced as chief executive of Convera, which …

The U.S. Department of Justice on Wednesday lent its weight to a proposed rule from the Federal Reserve Board that would reinforce merchants’ choice of networks for e-commerce transactions arising from debit cards. At the same time, it suggested the rule could be made more stringent. Justice’s support for the …

EBay Inc. reported some 80% of its on-platform payments volume was processed through its managed-payments service by the end of the second quarter. More than 13 million sellers globally were using the platform.Payment card manufacturer CPI Card Group Inc. said consumers’ shift to contactless cards, which command a higher price than ordinary plastic, helped drive …

Vehicle-based payments got a boost Wednesday with BlackBerry Ltd.’s introduction of a new app to enable secure payments from a car’s dashboard. The app, which leverages the concept of the connected car, acts like a mobile wallet that connects to a payment network to enable a variety of transactions, including …

With a Federal Reserve deadline hitting Wednesday for comments on decade-old debit card regulations, large merchants are firing some last-minute salvos in hopes of influencing the Fed to make major revisions to rules governing transaction routing and pricing. “[M]ajor banks and networks continue to interfere with competition for debit business,” …

Grocers and convenience stores that use distributor Hardec’s to buy products to sell now have an online and digital payment option. Omaha, Neb.-based Financial Transmission Network Inc. said it is supplying Hardec’s with an online payment portal that enables its customers to pay invoices via automated clearing house transactions and …

The increasing digitalization of global economies, along with the unprecedented growth in online commerce, means that consumers and businesses are demanding more from payments. A recent report from the Federal Reserve Bank of Boston notes that “consumers not only have higher expectations when it comes to online security, but they …

Apple Inc. said Apple Cash users can now send Instant Transfer payments to Mastercard Inc. debit cards, reported 9to5mac.com. The service had been compatible only with Visa Inc. debit cards prior to Thursday’s announcement. Apple also said it is charging a 1.5% fee for Instant Transfer transactions, up from 1%. Instant Transfer …

Credential stuffing hasn’t lost its appeal as a favored form of attack for criminals looking to commit account fraud, says a report from San Francisco-based fraud-prevention technology provider Arkose Labs detailing fraud trends during the first half of 2021.   Credential stuffing accounted for 285 million attacks during the first half of …

Mastercard Inc. said in its latest SpendingPulse report in-store shopping ballooned 15.5% in July over July 2020 and accounted for 81.9% of total retail sales, excluding automotive. E-commerce sales for the month were up 6.1% from last year, but up 77.7% from July 2019.Payments-technology provider ACI Worldwide Inc. announced an expanded agreement with …