Issuing/Originating

Square Inc. may be planning to re-file its application for deposit insurance with the Federal Deposit Insurance Corp., but that isn’t stopping its main opponent from celebrating the fact that the company has withdrawn its original application—at least for now. “We can call it a victory,” Chris Cole, executive vice …

The Federal Reserve Board said Thursday that it is seeking comments about its proposal to adopt the ISO 20022 messaging format for the Fedwire Funds Service. If approved, the format would replace the Fedwire’s current, proprietary messaging system. ISO 20022 enables payment providers to add more detailed instructions and other …

Token, a provider of contactless payment terminals tailored for events, launched its Mini-Serve EFTPOS system, which allows attendees at events or venues to top up their wristbands or badges with payment cards or mobile wallets. In an expansion of a relationship that dates back to 2004, PayPal Holdings Inc. has …

The cybersecurity firm Gemini Advisory recently announced a large-scale data breach at Saks Fifth Avenue and its sister company Lord & Taylor, compromising 5 million credit cards. While the forensic investigation is still under way, it appears that the breach was likely caused by malware on the parent company’s point-of-sale …

While the opportunity to earn interchange on transactions made on its new Venmo debit card seemingly answers the oft-asked question of how PayPal Holdings Inc. plans to leverage its free peer-to-peer payment service, the full answer runs much deeper. Interchange is only one piece of the puzzle. A much larger …

With its Monday decision upholding American Express Co.’s anti-steering rules, the U.S. Supreme Court unleashed a tide of press speculation about just how payment card pricing, rewards, and network rules will be affected. At this point, however, only a few things are clear. The first is that AmEx chief executive …

Bill.com announced that, at more than $52 billion, it has surpassed the $50-billion mark in bill payments processed annually for more than 3 million small-business clients. Prepaid specialist Incomm announced it is working with CheckFreePay Corp., a unit of Fiserv Inc., on a cash-based bill-payment service in store checkout lanes. …

In a 5-4 decision, the U.S. Supreme Court ruled Monday that American Express Co.’s anti-steering rules for merchants do not violate federal antitrust law. The conservative majority’s decision, written by Justice Clarence Thomas, caps a case that dates back to 2010 and involves merchants who wanted to steer merchants to …

Zelle’s gestation as a favored person-to-person payments service may be nearing fulfillment. A new survey from LendEDU finds that, nine months after its June 2017 debut, more consumers had become aware of the bank-backed service. In 2017, only 6.1% had heard of Zelle. By the time of the survey, that …

The fraud-fighting tools of the future for e-commerce retailers include artificial intelligence, multimerchant velocity checks, and fingerprint identification, according to a poll of 166 merchants for the Federal Reserve Bank of Minneapolis. None of those newer tools is in widespread use today, but more merchants plan to use them going …