Issuing/Originating

The debit interchange controls of the Durbin Amendment went into effect seven years ago Monday, and to mark the occasion the Electronic Payments Coalition issued its latest salvo in what appears to be a never-ending feud over that law. According to survey results released by the EPC, 52% of registered …

In what may be a boon for ATMs, Visa Inc. will allow dynamic currency conversion for consumers using international ATMs beginning April 13, 2019, says Euronet Worldwide Inc. The Leawood, Kan.-based processor, which operates more than 41,000 ATMs globally, says the rule change enables acquirers and ATM operators to offer …

Biometric authentication may be coming into its own as a tool to aid financial institutions and payments companies in serving their customers. At financial institutions, as much as $20.75 million is saved annually using biometric authentication instead of SMS one-time password services, says Reston, Va.-based Daon Inc., a biometric-services company, …

The world currently has 40 real-time payments systems versus only 25 just a year ago, payment processor Fidelity National Information Services Inc. (FIS) reported Wednesday. What’s more, five such programs are under development, and another 16 should be live in 12 months to 18 months, Jacksonville, Fla.-based FIS says in …

It’s another go-around for contactless payments as Visa Inc. prepares an extensive campaign involving issuers, merchants, and consumers to push use of the payment method. The card brand on Tuesday debuted an infographic on contactless payments from across the globe, and touted the preparedness of the U.S. market for the …

Paycosmos, a provider of virtual and point-of-sale terminals, has teamed with payments provider linked2pay to launch “ISO in a Box,” a platform that offers sales agents support with acquiring and underwriting merchants and help with payments technology. Cashierless technology like that of Amazon Go will account for $45 billion in …

The San Francisco Bay Area’s Metropolitan Transportation Commission next week will consider a $461 million contract with Cubic Transportation Systems to modernize the Clipper fare-payment system used by 22 separate transit agencies in the region. The upgrade will retain the closed-loop Clipper card that uses near-field communication for contactless fare …

With rumors circulating that Amazon.com Inc. is interested in getting into banking and also preparing to open thousands more cashier-less stores, new research results released by management-consulting firm Bain & Co. claim that a large pool of consumers would be willing to bank with the online retailing giant. “Our survey …

Déjà vu, anyone? Similar to its now-moot predecessor agreement from 2012, the proposed $6.24 billion monetary-damages settlement in a big credit card interchange antitrust case announced Tuesday by Visa Inc. and Mastercard Inc. is drawing diverging reviews from merchants. Based on anecdotal comments and the history of the earlier settlement, …

When you flip over your debit card or go to an ATM, you see logos for companies like Shazam, First Data’s Star Network and others, but you may not think about the role these processors play in the payments system. As one of those processors, we simplify the connections that …