Issuing/Originating

The National Retail Federation and the Merchants Payments Coalition have lined up against the Federal Reserve, arguing that while a rate reduction on debit card transactions is welcome, the Fed’s proposed pricing does not go far enough. The two industry trade groups sent their respective letters to the Fed on …

Paysafe Ltd. wants to do more to sign merchants directly, and to that end it’s hiring salespeople—lots of them. The London-based merchant processor, which has a big operation in North America and aspirations for a larger one, hired 55 salespeople in the first quarter and plans to add 170 in …

Just 38 app developers have so far applied to Apple Inc. to enable payment processors outside of Apple’s proprietary payment system, the iPhone maker said. That’s out of 65,000 developers that were eligible to apply, according to Bloomberg. The report follows legal action that required Apple to make the alternatives available for apps. Ohio-based …

Lightspeed Commerce Inc. announced it is supplying payments capability for the Myrtle Beach Area Golf Course Owners Association in South Carolina, which includes more than 70 golf courses. The Western Union Co. resumed service between the United States and Cuba after technical issues in January disrupted it. Payments provider Priority Technology Holdings Inc. reported $205.7 million …

Real-time account-to-payment payments has received a big boost as J.P. Morgan Payments adds Visa Direct to its arsenal of payment options. The deal gives businesses using J.P. Morgan Payments’ platform an option to make payments, such as a rebate or refund, directly to a consumer’s debit card or bank account …

Buy now, pay later platform Sezzle Inc. has launched a loyalty program that rewards users for paying on time. The new offering, called Payment Streaks, is part of Sezzle’s free Loyalty Tiers program. The idea is that, with each on-time payment, Sezzle users begin a payment streak that moves them …

The war over the proposed Credit Card Competition Act shows no signs of abating as combatants on both sides of the fence continue their efforts to sway legislators and public opinion on the matter of card-acceptance costs. The latest battle centers on data from payments consultancy CMSPI that says merchants …

The top management at Global Payments Inc. said early Wednesday the company is beginning to reap the benefits it planned for when it paid $4 billion to acquire EVO Payments Inc., a processor with international merchant connections. The deal, which is now more than a year past its closing date, …

Mastercard Inc. reported $6.3 billion in first-quarter revenue, a 10.5% increase from $5.7 billion in the 2023 first quarter. It posted a quarterly net income of $3 billion, up 25% from $2.4 billion a year prior. Executives noted strong consumer spending, cross-border payments volume growth, and new deals across its regions …

Capital One Corp.’s chief executive late Thursday struck back against concerns that the banking giant’s proposed acquisition of Discover Financial Services will dampen competition in banking and payments. “The facts will show there are no barriers to entry in the credit card business,” declared Richard Fairbank as he fielded questions …