Transaction Processing

Fiserv Inc.’s Clover unit has made its latest entry in the highly competitive restaurant market with the Clover kitchen display system. The new system consolidates in-restaurant and online orders, a move some see as a growing need for restaurants as consumers return to dining out, while continuing to place online …

The Consumer Financial Protection Bureau is looking at creating a rule to define so-called larger companies in the consumer-payments industry, according to a notice the regulator posted on Tuesday. The rule if established would clarify the CFPB’s supervisory authority with respect to nonbank payments companies, lending more impetus to a …

The Canada-based commerce platform Shopify announced it has added the payments gateway Volt, allowing Shopify merchants in Europe, the United Kingdom, and Brazil to process real-time account-to-account payments. In related news, payments platform Netevia announced updates to its banking-services features, including free account-to-account transfers. The free period extends until the end of the year. …

Although the Consumer Financial Protection Bureau plans to develop a federal regulation governing the protection of consumer financial data shared through open banking, the agency says that open banking will be best served if it does not “micromanage” open banking itself. In October, the CFPB announced its intention to develop regulation …

Few retail markets have rebounded from Covid lockdowns as fast as restaurants have. And few have attracted as much attention from payments companies. No wonder. Sales at what the National Restaurant Association calls “eating and drinking places” in the United States totaled $88.1 billion in April, up 0.6% from March. …

Mastercard Inc. Monday afternoon said it was looking into reports of problems with processing certain transactions on its network. Both Stripe, a major payments platform, and the U.K. bank Natwest reported issues, though Natwest said the problem had been resolved by day’s end. Prepaid card provider Paysign said it completed issuer certification with …

Chase, the consumer and commercial banking division of JPMorgan Chase & Co. in the United States, has launched Chase Freedom Rise, a credit card aimed at consumers with no credit history. Cardholders earn 1.5% cash back on every purchase, pay no annual fee, and have no minimum threshold for redeeming …

The leveling off of e-commerce activity continues as online prices, as measured by the Adobe Digital Price Index, fell 2.3% in May from a year ago. This is the ninth consecutive year-over-year decrease in online prices, Adobe Inc. says. Of the 18 categories tracked by Adobe, prices fell in 11 …

Restaurant point-of-sale technology provider Toast Inc. has signed an agreement with Marriott International Inc. to make its Toast for Hotel Restaurants product available in the hotelier’s Select service hotels in the United States and Canada. A report from Mastercard Inc. indicates the proportion of cash-only customers in Latin America has dropped from 45% three …

Sylogist Ltd., a global provider of software-as-a-service to more than 2,000 public-sector customers across the government, nonprofit, and education sectors, has selected Nuvei Corp. as its payments processor. Nuvei will provide Sylogist with payments functionality including support for mobile wallets such as Apple Pay and Google Pay. In addition, Nuvei …