Person-to-Person Payments

With some of its payments cohorts already having warned the coronavirus would hurt their businesses, it was no surprise Visa Inc. joined the crowd Monday in forecasting reduced cardholder spending would translate into lower revenues. More signs of growing concern about the impact of the virus, officially named Covid-19, on …

Cash App may be turning into the product that ate Square Inc. The company on Wednesday reported a big fourth quarter for the 4-year-old product as officials pointed to a strong performance overall for the full year. “2019 was a very good year for us,” Square chief executive Jack Dorsey …

The release date for the Federal Reserve’s planned FedNow real-time payments service is still three or four years off, but more details about its features will be released in the coming months, according to a Federal Reserve official. “This year we do plan to make an announcement based on … …

Wire-transfer provider MoneyGram International Inc. said transaction volume from its MoneyGram Online service grew 39% year-over-year in the fourth quarter; the company reported a net loss of $11.9 million compared with a loss of $12.5 million in 2018’s fourth quarter.Former Fit Pay Inc. shareholders are suing Garmin International, alleging the company, known for its …

Fiserv Inc. announced more than 600 financial institutions have joined the Zelle peer-to-peer payments network through its Turnkey Service for Zelle program, with more than 300 of those institutions coming on board last year.Private-equity firm Great Hill Partners and payments provider VersaPay Corp. announced the closing of the previously announced acquisition of VersaPay by an …

The controversial Libra cryptocurrency project gained a new member Friday with Shopify Inc.’s announcement it will join the Libra Association, the governing body for the fledgling venture. Shopify’s decision comes in the face of a string of eight high-profile defections from the association since October, including decisions by Mastercard Inc., …

Chargebacks911 released a set of tips for retailers about managing buy-online, pickup-in store fraud.VersaPay Corp., a provider of electronic invoice presentment and payment, said its shareholders overwhelmingly approved acquisition of all outstanding common shares by 1233518 B.C. Ltd., an affiliate of private-equity firm Great Hill Partners. Shareholders will receive $2.70 Canadian …

Ingenico Group S.A. named Peter Stewart executive vice president of Ingenico North America. Stewart has more than 25 years of experience in the technology industry. A specialist in point-of-sale equipment and processing, Ingenico Group has agreed to be acquired by processor Worldline S.A. in an $8.6 billion deal.CHR Corp., which does business under …

PayPal Holdings Inc. said it and the Center on Crime and Community Resilience at Northeastern University, along with the University of Chicago Crime Lab, formed a research project to examine payment methods used to finance illegally-sourced firearms with the goal of combatting the illegal sale of guns.Processor Fiserv Inc. announced its “Scan to …

The Retail Industry Leaders Association issued a statement calling on Congress to press Federal Reserve Board chairman Jerome Powell to “set a true rate” for debit card transactions that would reflect the intent of the Durbin Amendment to the Dodd-Frank Act. The amendment regulates debit card transaction pricing for large issuers. Powell is scheduled …