News

August, 2022

• 2 August

  ‘We Are…Regaining Our Momentum,’ Says PayPal’s Boss As Payments Volumes Grow

  

  After a few stumbles in recent months, PayPal Holdings Inc. returned to growth mode in its June quarter as the big payments provider refocused its energies on its basic businesses, including checkout, peer-to-peer payments, and the Braintree processing operation. “We are well under way toward regaining our momentum,” chief executive …
• 2 August

  The Mobile Channel Is Driving Fraud Costs

  

  The cost of fraud to U.S. merchants increased 4.2% in 2022, up from $3.60 to $3.75 for every dollar lost to fraud. That’s the latest from the 2022 edition of the LexisNexis Risk Solutions “True Cost of Fraud Study: Retail and Ecommerce” report released Tuesday. The metric had been $3.13 …
• 2 August

  A New $1-Million Same-Day Limit Makes Itself Felt in the ACH’s Latest Results

  The U.S. automated clearing house network saw a double-digit increase year-over-year in transactions in the second quarter while dollar volume ballooned 94%, the network operator Nacha reported Tuesday morning. The volume of all transactions on the system, meanwhile, reached 7.5 billion, up from 7.3 billion in the first quarter. Helping …
• 2 August

  AmEx Launches SMB Global Pay Service And Other Digital Transactions News briefs from 8/2/22

  

  American Express Co. launched American Express Global Pay, a digital payment service to enable U.S. businesses to make domestic and international business-to-business payments. Eligible U.S. AmEx Small Business cardholders can fund payments from their business bank accounts to suppliers in more than 40 countries with a dozen currencies.RevoluGroup Canada Inc., a payments-technology provider, …
• 1 August

  First American Payments Settles an FTC Complaint Regarding Deceptive Practices

  

  First American Payment Systems has agreed to a proposed federal court order requiring the processor to repay $4.9 million to small businesses affected by what the Federal Trade Commission called deceptive practices, according to the FTC. The settlement, announced Friday, was made in the wake of charges by the FTC …
• 1 August

  Global Payments Says It Will Acquire Overseas Payments Specialist EVO for $4 Billion

  

  The consolidation of the payment-processing business continues apace, driven by economies of scale and the challenges of keeping up with emerging technology. In the latest deal, which is expected to close in the first quarter of next year, Global Payments Inc. announced early Monday it will acquire EVO Payments Inc. …
• 1 August

  Regpack Signs NYLA Talent And Other Digital Transactions News briefs from 8/1/22

  

  Regpack, a payment management platform, said NYLA Talent, a network of more than 100 entertainment industry professionals and organizations, adopted its service to automate and digitize its payment processes.Early Warning Services LLC has opened a new headquarters in Scottsdale, Ariz. Owned by seven of the nation’s biggest banks, Early Warning is …

July, 2022

• 29 July

  Dueling Trade Groups Seek to Sway the Payments Industry Over Durbin’s Credit Card Bill

  

  With the introduction in Congress on Thursday of a bill that attacks rising credit card acceptance costs, lobbyists for both sides of the issue lost no time firing broadsides, pro and con, over the matter. The legislation, co-sponsored by Richard Durbin, D-Ill., and Roger Marshall, R-Kan., seeks to ratchet down …
• 29 July

  Blackhawk Teams Up With Aurus To Help Increase Digital Payments Access

  

  Blackhawk Network Inc. is partnering with Aurus Inc., an omnichannel payments-platform provider, to increase consumer access to digital payments such as digital wallets and buy now, pay later loans. The deal is expected to provide merchants a single payments platform that supports myriad payment options, including general purpose and private-label …
• 29 July

  PayGround Secures $5.5 Million in Funding And Other Digital Transactions News briefs from 7/29/22

  

  PayGround, a payments fintech specializing in health care, completed a $5.5-million funding round led by FCA Venture Partners and Lewis & Clark Ventures. The financing follows a $4-million seed round for PayGround last year.Chargebacks911 said its partnership with FIS Inc.’s Worldpay unit now includes Disputes Deflector, a set of chargeback and …