Issuing/Originating

Buy now, pay later specialist Affirm Inc. said its fiscal quarter-to-date financial metrics exceeded its expectations, leading it to revise its financial outlook. Affirm on Feb. 10 had expected its gross merchandise volume to be no more than $3.71 billion, but now says it will be at least that much.Aplazo, a buy …

Having held off for the past two years, the country’s two biggest card networks are preparing revisions to their interchange schedules that at least one research firm says will cost U.S. merchants an estimated $475 million in additional transaction fees. Though Visa Inc. and Mastercard Inc. have historically revised their …

With momentum accelerating behind faster payments on the automated clearing house, fraud prevention is taking on a higher profile at the nation’s banks. In the latest move, Bank of America Corp. on Thursday introduced ACH Positive Pay on its CashPro mobile app. The move will let app users review and …

E-commerce platform eBay Inc. announced it is launching a digital wallet, its first, to allow sellers to use proceeds from their sales to make purchases or pay for selling expenses.The Western Union Co. has suspended operations in Russia and Belarus in response to Russia’s invasion of Ukraine. The move follows decisions by other global …

The steady development of the cryptocurrency industry worldwide and domestically has led the executive branch of the federal government to lay the groundwork for regulation of these assets. The move, embodied in an executive order signed Wednesday by President Joe Biden, has drawn applause from some payments trade groups, though …

The ongoing Covid-19 pandemic continues to impact consumer finances and financial habits. On the one hand, since the onset of the pandemic, the bank deposits of American households have been at a record high, partially due to limited spending on entertainment and travel, reduced in-person shopping, and the receipt of …

Diebold Nixdorf Inc. launched its Vynamic Retail Platform that includes functions such as checkout, loyalty program management, retail management, and compliance.Visa Inc. said it completed its $2.15 billion acquisition of Tink, an open banking platform. Announced in June, the acquisition gets Visa access to 3,400 financial institutions in Europe. Stockholm-based Tink will operate …

Consumer spending in the United States, in terms of February retail sales excluding auto, was up 8.7% over February 2021 and 17.3% over February 2019, according to Mastercard Inc.’s SpendingPulse report, which monitors in-store and online retail sales.President Joe Biden signed an executive order requiring federal agencies to work out a common …

Visa Inc. and Mastercard Inc. will raise interchange rates for online merchants starting next month, while also lowering the rates for some small-merchant categories, according to a report in The Wall Street Journal. Mastercard’s fee changes alone will result in a net increase of about $330 million yearly, according to the Journal story, …

As Russian armed forces continue their assault on Ukraine, Visa Inc., Mastercard Inc., and American Express Co. late Saturday said they are suspending all operations in Russia, following up on actions taken by the networks nearly a week earlier. Meanwhile, reports began to filter out of Russia that at least some …