Digital Currency

Discover Financial Services’ Payment Services unit reported its transaction volume grew 8% year-over-year to $61.8 billion, a result that included 7% growth for its Pulse electronic funds transfer network. Overall, total Discover revenue net of interest expense increased 10% to $2.85 billion, while net income jumped 13% to $753 million.In related …

Visa Inc.’s net income jumped by a third in the quarter ended June 30, a period when the leading payment card network’s global transaction volume rose nearly 12% and the company completed or announced several acquisitions to broaden its franchise. Visa chairman and chief executive Alfred F. Kelly Jr. told …

The Federal Trade Commission said payment processor Allied Wallet, its CEO and owner Ahmad “Andy” Khawaja, and two company officers agreed to settle FTC charges that they assisted numerous scams by knowingly processing fraudulent transactions that took more than $110 million from consumers’ account.The two-day Amazon Prime Day event this week sold more than 175 …

Facebook Inc. and its proposed Libra cryptocurrency took a beating this week on Capitol Hill, but the outlook for the new coin—and its Calibra wallet—may be more nuanced than that reception would seem to indicate. The skepticism toward Libra was bipartisan, with Senators and Representatives of both major parties raking …

Bank of America Corp. says it has 8 million active users of the bank-backed Zelle person-to-person payment service and that it handled 69 million Zelle transactions in the second quarter, nearly double the 35.2 million transactions a year earlier. BofA had 5.4 million Zelle users in the 2019 first quarter. …

Facebook Inc.’s Calibra wallet will generate revenue for its parent by stimulating incremental advertising but the proposed Libra cryptocurrency will also work with competing wallet apps, the company’s point man for Calibra said Tuesday. David Marcus, head of Calibra for the huge social network, said in prepared remarks that the new …

The Litecoin Foundation said the Miami Dolphins National Football League team named Litecoin its official cryptocurrency. The digital currency will be accepted for payment for ticket purchases in the team’s 50/50 raffle. Bitcoin also may be used for these ticket purchases. Citigroup Inc. reported $93.2 billion in second-quarter purchase volume …

Likening Amazon Prime Day, which takes place July 15-16, to Black Friday and Cyber Monday, threat-detection firm Cyberint warns that so-called threat traffic will run 30% higher than usual in the days leading up to, including, and shortly after Prime Day, in line with the volume experienced during the holiday …

Nxt-ID Inc.’s Fit Pay Inc. unit is using contactless technology from CPI Card Group Inc. for Fit Pay’s coin-shaped Flip device, which lets users store and spend U.S. dollars converted from Bitcoin holdings. Specifically, Fit Pay, a unit of Melbourne, Fla.-based Nxt-ID Inc., has adopted a product called “Adaptives,” CPI …

Visa Inc. released data indicating 51% of all purchases across nine stadiums in France hosting the group stage of the FIFA Women’s World Cup France 2019 were done with contactless cards or devices, including wearables and smart phones. The group stage of the soccer tournament ran from June 7 to …