News

April, 2024

• 19 April

  COMMENTARY: Don’t Take It Any More! It’s Time for the Payments Industry to Fight Back (Part II)

  

  (Editor’s note: This is Part II of a two-part article. Part I appeared Thursday.) Interchange fees paid by merchants are the credit card industry’s second-largest revenue source. For debit cards and neobanks, these fees are a primary revenue source. The 2010 Dodd-Frank Act imposed price controls on debit interchange fees …
• 19 April

  AmEx’s Encouraging Results and other Digital Transactions News briefs from 4/19/24

  

  American Express Co. reported first-quarter 2024 revenue of $15.8 billion, up 11% from the same period last year, and billed business of $367 billion, up 6%. Net income grew 34% to $2.44 billion. Affinipay, a payments platform specializing in the legal and accounting professions, said it has expanded its LawPay and …
• 18 April

  In an Abbreviated Call, Discover Sticks to the Numbers And Stays Mum About Cap One

  

  Executives at Discover Financial Services Inc. early Thursday cut short their first-quarter 2024 earnings call, saying in advance they would not take questions after the presentation. Instead, equity analysts listening to the presentation were told to direct questions to Discover’s investor-relations team. On the call, executives duly reported a significant …
• 18 April

  COMMENTARY: Don’t Take It Any More! It’s Time for the Payments Industry to Fight Back (Part I)

  

  The Cato Institute’s Nicholas Anthony warned recently that the Biden Administration is waging “a war on (payments-industry) prices.” The payments industry provides services funded by a range of fees paid by consumers and businesses. Demagogic regulators and politicians pillory industry fees as exploitative, as “junk fees,” and “a tax.” These …
• 18 April

  PAX’s Network Tech and other Digital Transactions News briefs from 4/18/24

  

  Point-of-sale technology provider PAX Technology Inc. introduced Airlink, networking technology that provides payment connectivity in outdoor settings and other venues where wireless Internet or other network service may be unavailable or insufficient. Mastercard Inc. introduced what it calls a mobile virtual card app, which is aimed at financial institutions and supports the loading …
• 17 April

  Visa Launches Enhancements for its Acceptance Platform

  

  Visa Inc. on Wednesday unveiled enhancements intended to further remove friction from the customers’ payment experience for merchants of all sizes. The enhancements, which are being launched on Visa’s Acceptance Platform, were developed in response to merchants’ needs for simpler implementation of payments technology, Visa says. The enhancements include Developer …
• 17 April

  Klarna Gets Set to Launch a New U.S. Credit Card ‘Over the Next Few Months’

  

  The buy now, pay later specialist Klarna AB signaled its intention Wednesday to issue a new credit card in the U.S. market. The company said it has opened a waitlist for the product, which it calls a “new and improved Klarna Card.” The new Visa card, which does not offer …
• 17 April

  Fiserv’s Clover Kiosk and other Digital Transactions News briefs from 4/17/24

  

  Fiserv Inc. introduced Clover Kiosk for the hotly competitive restaurant payments market, along with what it calls an enhanced Clover Kitchen Display System. Ferry, a tip-payout specialist, has launched a payroll card and tipping platform nationally for casual-dining chain BJ’s Restaurants, which operates more than 200 locations in 30 states. U.S.-based …
• 16 April

  As Data Drives Sales, Shift4 Adds A Business Intelligence Module to Its SkyTab POS System

  

  Shift4 Payments Inc. says it has added a new business-intelligence module to its SkyTab POS platform for restaurants. The new module, aimed at dining establishments of any size, provides more granular data-filtering options for restaurants’ point-of-sale system, such as detailed transaction-management and revenue-center reporting. Chains can use the module to …
• 16 April

  Aurora Releases the Arise Platform; FastSpring Adds Apple Pay and Pix

  

  Evolving merchant expectations are a primary factor in Aurora Payments’ newly released Arise Payment Platform, which is intended to match sellers’ needs, says Brian Goudie, Aurora chief executive. Announced Tuesday, the Arise platform includes same-day onboarding capability, surcharging, cash discounting, and dual- pricing options, Aurora says. It also offers acceptance …