News

May, 2024

• 17 May

  Will Its Supreme Court Victory Embolden an Already Activist CFPB?

  

  The Consumer Financial Protection Bureau’s victory at the Supreme Court on Thursday answers for now the question of its constitutionality and may quiet the agency’s critics, who view it as a largely unnecessary agent of federal power operating with an overly aggressive agenda. But some payments experts fear the decision, …
• 17 May

  MagTek Teams with KwikPOS on Handheld Device and other Digital Transactions News briefs from 5/17/24

  

  Point-of-sale technology provider MagTek Inc. said it has worked with KwikPOS, a developer of POS systems for restaurants, to develop a handheld device that links to MagTek’s gateway and uses the company’s mobile card reader. Tassat Group Inc., a real-time settlement platform based on blockchain technology, announced it will work with cross-border …
• 16 May

  Eye On Restaurants: NCR Voyix Launches a Self-Service Kiosk; Lightspeed’s Q4 earnings

  

  Digital-commerce technology provider NCR Voyix Corp., formerly part of NCR Corp., has partnered with self-ordering software provider GRUBBRR to introduce a new ordering kiosk for restaurants. The kiosk, which integrates with NCR Voyix’s commerce platform, was developed as a response to consumers’ growing preference for self-service ordering, the company says. …
• 16 May

  Visa Revamps its Payments Approach

  

  Visa Inc. is taking up the notion of a digital payment identity and making it part of its product mix. Announced Wednesday at the Visa Payments Forum in San Francisco, the Visa Flexible Credential is but one of several products the payments network formally debuted, including broader tap-to-pay capabilities, a …
• 16 May

  Supreme Court Upholds CFPB Funding and other Digital Transactions News briefs from 5/16/24

  

  The U.S. Supreme Court early Thursday upheld the constitutionality of the Consumer Financial Protection Bureau by a 7-2 vote, reversing an October 2022 ruling by a federal appeals court in New Orleans that had held the means by which the bureau is funded violates the U.S. Constitution. The CFPB, created in 2008, receives its …
• 15 May

  Eye On Travel: Worldline’s Virtual Card Platform; Consumers Are Traveling More

  

  The big processor Worldline S.A. is working with Visa Inc. to launch a virtual business-to-business card-issuing facility for online travel agencies. The deal marks the first foray for Paris-based Worldline beyond payment processing.  The partnership will integrate Worldline’s Merchant Services Acceptance capabilities with its Financial Services Card issuing platform to …
• 15 May

  Eye on ISVs: Booksy Adds Tap to Pay on iPhone; Usio Could See $20 Million in Revenue From a Single ISV

  

  With an eye to making it easier for consumers to pay how they want, Booksy Inc., a booking platform for beauty-service appointments, is adding Tap to Pay on iPhone as an option. The contactless payment method enables consumers to use their contactless credit or debit cards, or an iPhone with …
• 15 May

  Flywire Widens Invoicing Access and other Digital Transactions News briefs from 5/15/24

  

  Flywire Corp., a specialist in payments for higher education, said it has widened the availability of its third-party invoicing platform, which lets third parties pay tuition and fees on behalf of students. Buy now, pay later provider Afterpay said Gen Z consumers—those born between 1997 and 2012—increased first-quarter 2024 spending at small …
• 14 May

  Merchants And Banks Prepare for Battle Over the Fed’s Proposed Debit Adjustments

  

  The National Retail Federation and the Merchants Payments Coalition have lined up against the Federal Reserve, arguing that while a rate reduction on debit card transactions is welcome, the Fed’s proposed pricing does not go far enough. The two industry trade groups sent their respective letters to the Fed on …
• 14 May

  Results Improve for Paysafe As the Processor Looks to Beef up Its Internal Sales Staff

  

  Paysafe Ltd. wants to do more to sign merchants directly, and to that end it’s hiring salespeople—lots of them. The London-based merchant processor, which has a big operation in North America and aspirations for a larger one, hired 55 salespeople in the first quarter and plans to add 170 in …