Transaction Processing

The Federal Trade Commission issued a proposed rule that would require sellers to offer a “click to cancel” button that customers could use to more easily stop subscriptions and recurring payments. A global survey on cross-border payments found 29% of mid-size and large U.S. businesses cite high transaction cost as a challenge, …

Panera Bread on Wednesday announced it is adopting Amazon One, Amazon.com Inc.’s biometric-payment technology, at select locations in the St. Louis area. The deployment of Amazon One, which links a customer’s payment card to his or her palm print, is expected to make it easier for Panera customers to access …

No surprise, the top merchant acquirer by payment volume remains JPMorgan Chase & Co., according to the 2023 edition of Directory of U.S. Merchant Acquirers from TSG, formerly known as The Strawhecker Group. With volume of $2.15 trillion, Chase retained the top spot last year that it has held since …

Tassat Group Inc., a provider of real-time business-to-business payments based on blockchain technology, said its client-facing application programming interface enables an “on-ramp” to FedNow, the Federal Reserve’s real-time payments service, which is expected to begin commercial service in July. Liquidity Financial launched CauseCard, a Visa-branded debit card with a connected app …

Cybercriminals showed no signs of slowing down in 2022 as they employed a variety of schemes to defraud consumers, acquirers, card issuers, and merchants, according to Visa Inc.’s Spring 2023 Biannual Threats Report. Cryptocurrency was a prime target for cybercriminals. More than $3 billion in cryptocurrency was stolen through November …

With the Federal Reserve’s announcement last week that it will launch its FedNow real-time payments service in July, technology firms are jockeying for position as the appetite for faster payments grows worldwide. One big development emerged early Tuesday with an announcement from London-based payments-software firm Finastra Group Holdings Ltd. that …

Fiserv Inc. is partnering with Central Payments LLC, a provider of banking-as-a-service for fintechs and embedded-finance businesses, to enable fintechs to bring financial products and services to market faster. Central Payments will leverage Fiserv’s real-time card-processing and -issuance capabilities to enhance its Open CP Fintech API Marketplace, a banking-as-a-service platform …

Mastercard Inc. is adding another arrow of digital-security technology in its cybersecurity quiver with the acquisition of Baffin Bay Networks, a Sweden-based cybersecurity company. Payments companies constantly need advanced ways to counter fraud because criminals are relentless. In fact, credit card fraud accounted for 6.2% of digital fraud in 2020, …

Payments-technology fintech Preferred Payments is working with WebbRes, a provider of management systems for trailer dealers, to enable dealers to process payments within the WebbRes platform. Ascend, a provider of payments technology to the insurance industry, announced an integration with the AMS360 agency-management platform from Vertafore. The Western Union Co. said money transfers …

While the growth in buy now, later loans is prompting card issuers to enter the fray, one challenge they face is creating awareness, as card issuers do not make their BNPL offerings available at the point-of-sale. This is unlike BNPL specialists such as Affirm Holdings Inc., Klarna AB, and Sezzle …