Fintech iWallet, whose technology lets repair personnel and other field-service providers process checks on a smart phone, said it is seeing growth among small businesses such as those in the plumbing, appliance-repair, electrical, and HVAC fields. Financial-technology provider Ascend will provide its billing-technology platform to process transactions for NFP, a property and casualty …
Read More »Eye On iGaming: Nuvei Partners with 888; Paysafe’s Expansion Move; IPSI’s Joint Venture
Canadian fintech Nuvei Corp. is partnering with iGaming operator 888 Holdings Inc. to provide card acquiring and payment in the United States. The deal expands both companies’ footprint in the U.S. market Montreal-based Nuvei will enable 888 to accept deposits into iGamers’ accounts. In addition, iGamers will be able to …
Read More »Block’s Revenue Jumps 25% As It Continues Its Upmarket Push
Block Inc., corporate parent of Square and Cash App, posted $5.5 billion in second-quarter revenue, a 25% jump from $4.4 billion in the same quarter a year ago, as the payments provider pushes on with its move to add larger merchants. The midmarket segment now accounts for 40% of its …
Read More »Financial Institutions Are Embracing The Clearinghouse’s Request for Payment Capabilities
The Clearing House Payment Co. LLC, operator of the Real Time Payments network, said Wednesday that more financial institutions are making use of its Request for Payment capabilities. Request for payment has been a feature of The Clearinghouse’s real-time payments network since it launched more than five years ago. The …
Read More »FIS Logs a Flat Quarter And Avoids a Question Regarding Credit Card Routing
As FIS Inc. prepares to dispose of a majority interest in its merchant-acquiring unit, the big processor confronts other key questions regarding potentially favorable developments in the payments business. Still, its top brass proved reluctant early Wednesday to discuss those questions, one of which touched on opportunities the proposed Credit …
Read More »Mastercard Is ‘Ready To Compete’ for Online Debit Volume, Says CEO Miebach
With payments-industry competition rapidly getting more intense, long-established players such as Mastercard Inc. could lose out if they don’t change with the times. But Mastercard’s chief executive signaled Thursday that change is just what his company is doing. “We stand ready to compete,” declared Michael Miebach during Mastercard’s second-quarter earnings …
Read More »Visa’s CEO Delicately Fields Questions About the Company’s Merchant Relations
Visa Inc.’s top brass, during the company’s quarterly earnings conference call Tuesday afternoon, preferred to talk about fast-growing newer lines of business such as value-added services and transaction sources apart from traditional plastic credit and debit cards. But stock analysts on the call had questions about some sensitive merchant-relations issues, …
Read More »The CCCA Won’t Harm Card Issuers’ Ability to Fund Rewards Cards, MPC Says
The latest battle in the war over the proposed Credit Card Competition Act has focused on the question whether the legislation would cut rewards and other benefits for cardholders. Citing research from the consulting firm CMSPI, the Merchants Payments Coalition, a lobbying group for sellers, argues that passage of the …
Read More »As Instant Payments Make Headlines, Same-Day Payments Continue to Lift the ACH
Growth in same-day automated clearing house volumes slowed in the second quarter, but same-day ACH is still posting impressive gains from 2022, according to the latest data from ACH governing body Nacha. Herndon, Va.-based Nacha says the second quarter saw 199.4 million same-day ACH payments, up 7.7% from 185.1 million …
Read More »For ISOs And Other Acquirers, Picking a Sponsor Bank Entails Understanding Banks
Independent sales organizations can’t do much without a sponsor bank, also known as an acquiring bank, to get them access to the payment card networks. As with most business endeavors, the complexity of finding a sponsor bank has increased. It’s a challenge that attendees at the 2023 Midwest Acquirers Association …
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