Issuing/Originating

With the U.S. House of Representatives expected to sign off Friday on a $2 trillion stimulus bill in the face of the Covid-19 pandemic ravaging the United States, some payments executives are focusing on how to get a share of that cash into the hands of the country’s underbanked and …

The payment card networks plan to postpone until July changes in their interchange schedules that they had planned to take effect in April, Digital Transactions News has learned. The delays come as many merchants, especially restaurants, hotels, and local retailers have closed or greatly reduced their operations as part of governmental attempts …

After what it calls a “comprehensive search process,” prepaid-payments and banking-services provider Green Dot Corp. has found a new chief executive to replace founder and long-time CEO Steven Streit. The Pasadena, Calif.-based company said Wednesday payments veteran Daniel Henry is taking over from interim CEO William Jacobs, who has served …

Merchant processor and business-software provider Square Inc. says some of its sellers have seen declines of 45% in payment volume in recent days, and private-label and cobranded card issuer Alliance Data Systems Corp. says business at its client merchants is softening.  Both companies held conference calls with analysts after the …

With much of the world locked down in combatting the novel coronavirus pandemic, a financial trade group in the United Kingdom said Tuesday the country would increase the spending limit on contactless transactions by 50% effective April 1. The move will allow consumers to pay without touching a keypad or …

PayPal Holdings Inc. and Square Inc. are moving to increase hiring as consumers reportedly shift to mobile payments as a result of calls for social distancing.Arguing that “the [coronavirus] pandemic will pass, but the economic impact will last,” a collation of payroll processors and trade associations issued an open letter to President Donald …

Faster payments got a boost Friday as Nacha, the governing body for the nation’s automated clearing house network, raised the limit on same-day payments from $25,000 to $100,000. The move follows a similar action earlier this year by The Clearing House Payments Co. for real-time transactions and is expected to …

The federal government and the state of Utah this week cleared the way for a controversial industrial loan corporation to be set up by Square Inc. that could help the payments company cement ties with its merchant base. But the approvals also drew fierce opposition from banking groups concerned about …

Electronic Payments Inc. said it will temporarily suspend the monthly support fees for its TableTurn and Exatouch Point of Sale products for three months.JPMorgan Chase & Co. is temporarily closing 1,000 of its bank branches, or 20% of its network, because of Covid-19, according to press reports. The remaining open branches will …

With the nation hunkering down to slow the spread of Covid-19, American Express Co. said Tuesday it expects its first-quarter revenues, adjusted for currency fluctuations, to grow only 2% to 4% year-over-year. In contrast, AmEx’s revenues net of interest expense rose 7% to $10.4 billion in 2019’s first quarter. In …