Debit Cards

From a merchant perspective, one of the most harmful features of today’s card networks is default pricing. One merchant advocate succinctly described the anti-competitive impact of default pricing, stating, “with default pricing, banks have no incentive to compete for merchants’ business.”  Today, individual merchants are forced to face off against …

Less than a month after Paysafe Group Holdings Ltd. announced processing online gambling transactions will become a primary focus for the company, the strategy is quickly paying dividends as the processor has expanded its relationship with Golden Nugget Online Gaming Inc. to Michigan. The deal is an outgrowth of online-gambling …

Just as the Covid-19 pandemic spurred many consumers to turn to online shopping, merchants have experienced a corresponding increase in their chargeback rates. Sixty-eight percent of merchants said the pandemic affected their chargeback rates, found the second annual Chargeback Field Report from Chargebacks911, a chargeback-management platform. Clearwater, Fla.-based Chargebacks911 also …

With small and medium businesses looking to establish or expand their e-commerce presence, Wix.com Ltd., an Israeli-based provider of cloud-based Web-development services, is adding Skrill, a digital wallet and payments gateway operated by Paysafe Group Holdings Ltd., to its platform. Integrating Skrill will enable Wix merchants to accept credit and …

Building on what it says is its strategy to make electronic bill payment simpler and more accessible to consumers, doxo Inc. is offering consumers a bill-payment service that avoids fees.  The Seattle-based provider of digital billing and payment services says it is bypassing the transaction fees some billers, such as …

With consumers becoming more comfortable returning to in-store shopping as Covid-19 vaccinations roll out, J.P. Morgan is partnering with U.S. processor ACI Worldwide Inc. to enable merchants in Europe and the United Kingdom to offer in-store payment acceptance. The deal expands J.P. Morgan’s omnichannel processing presence by giving merchants a …

Fortis Payment Systems LLC is the latest acquirer to build up its integrated payments position, announcing Wednesday the acquisitions of EpicPay International LLC and Change Merchant Solutions LLC. The two deals will boost Fortis’s options for independent software vendors and developers, the company says. “Technology partners will be able to …

The advent of real-time payments, account-to-account transfers, and card-based disbursements is making it easier for consumers to receive claims funds much quick than waiting for a paper check. State Farm Insurance Cos. is one of the latest providers with its release earlier this month of Digital Pay, a service provided …

Payments platform dLocal Ltd. announced the launch of its initial public offering involving more than 29 million shares with an estimated price range of $16 to $18 per share.ACI Worldwide Inc. is collaborating with JPMorgan Chase & Co. to combine Chase’s European acquiring platform with ACI’s payments platform in an offering to merchants …

Much of the publicity swirling around blockchain technology concerns its use for recording and managing cryptocurrency, but there has been little talk about using blockchain to manage merchant transactions. GreenBox POS, a San Diego-based processor, changed that on Monday with its announcement that it has secured a bank identification number, or …