Transaction Processing

The Maryland legislature held a hearing late Tuesday on a bill prohibiting interchange from being charged on sales tax and gratuities linked to credit and debit card transactions. The bill, introduced by Delegates Todd Morgan and Brian Crosby, is the latest in what is expected to be a flurry of …

Cardworks Inc. and its banking unit, Merrick Bank, have agreed to acquire Ally Financial Inc.’s credit card portfolio. The business includes $2.3 billion in receivables and serves 1.3 million active cardholders. Terms were not announced. The card-issuing platform Marqeta Inc. is supporting efforts by Trading 212, a developer of financial apps, to launch …

Agilysys Inc., a provider of hospitality solutions, is implementing 13 integrated software solutions at Kiva Dunes, a golf resort located in Gulf Shores, Ala., intended to optimize per guest revenue, automate administrative tasks, and improve the guest experience. Agilysys’ applications, which includes point-of-sale software, will eliminate repetitive administrative tasks across …

Deluxe Corp. launched dlxPAY, a mobile app that offers merchants a suite of features, including real-time transaction management, advanced security, and customizable notifications, to give them more insight into their payment processing. The app also is compatible with the Ingenico Moby 5500 point-of-sale device. Two trade associations have sued the Consumer Financial …

New data from JPMorgan Chase & Co. signals the leading U.S. banking company is on track to retain its title as the nation’s largest merchant acquirer, with volume well in excess of $2.5 trillion flowing through its pipes. A note from a J.P. Morgan Payments spokesperson to Digital Transactions News …

American Express Co. reached an approximately $230 million settlement with the Department of Justice late Wednesday over allegations the card company engaged in deceptive marketing practices. The DoJ claims that AmEx’s deceptive marketing practices for its credit card and wire transfer products violated the Financial Institutions Reform, Recovery and Enforcement …

U.S. Bancorp, owner of the big merchant processor Elavon, on Thursday reported merchant-acquiring volume of $142.6 billion in 2024’s fourth quarter, up 5% from $135.7 billion a year earlier. The company processed 2.11 billion merchant transactions in the quarter ending Dec. 31, a 5.5% increase from 2 billion a year …

Recurring payments specialist Chargebee said its Retention product is in compliance with the Federal Trade Commission’s Negative Option rule, or click to cancel rule. That rule intends to make canceling a subscription as easy as the sign up process among other stipulations. Jupiter Payments said Get Honest Solutions, an independent sales organization that used …

Block Inc. reached an agreement with the Consumer Financial Protection Bureau early Thursday under which it will pay up to $175 million in restitution for what the CFPB claims were sloppy and misleading fraud-prevention practices used by Block’s Cash App. Under the terms of the agreement, Cash App has agreed …

Some consumers better hope Santa Claus doesn’t read the latest fraud report from Socure, a fraud-prevention and authentication provider. It found 13% of U.S. consumers committed first-party fraud during the 2024 holiday-shopping season. Often called friendly fraud, first-party fraud occurs when a consumer exploits return and refund policies for financial …