Transaction Processing

Pressure from the Senate Banking Committee on Early Warning Systems LLC, operator of the Zelle peer-to-peer payment network, is rising as committee members continue to press Early Warning for information about the extent of fraud on the network. A report released by Sen. Elizabeth Warren’s office late Monday charges that …

The Federal Reserve said late Monday it has completed work on a clarification that reinforces a more than decade-old requirement that issuers enable a choice of at least two competing networks for online debit card transactions. The release follows months of research and investigation by the Fed and will go …

Point-of-sale software developer Zuza launched its Zuza Marketplace on its Super App platform. Merchants can peruse the marketplace to find tools and third-party apps that can aid their businesses, Zuza said.U.S.-based Uplift, which offers buy now, pay later capability for the travel industry, announced Royal Air Maroc, a Morocco-based airline, has adopted its …

Despite economic headwinds from supply-chain bottlenecks and geopolitical instability, the payments industry continues to show resilient revenue growth, says a new report from the Boston Consulting Group. Global payments revenues are projected to grow about 9.5% in 2022, according to the report. Beyond this year, revenues are projected to grow …

Indications emerged late last week that Sen. Richard Durbin, D-Ill., has embarked on a strategy for his credit card routing bill that follows a path similar to one he forged a decade ago for his rules governing debit card routing. The veteran senator, along with co-sponsor Roger Marshall, R-Kan., have …

Lightspeed Commerce announced it has added a data-analytics capability, Lightspeed Advanced Insights, to its Lightspeed Restaurant payments service.The French payments company Worldline announced it has closed on the sale of its Terminals, Solutions & Services unit to Apollo Funds. The 2.2-billion-euro deal, which includes the Ingenico line of point of sale devices, was announced in …

Consumers’ usage of debit cards has finally surpassed that of credit cards. Through the second quarter of 2022, 56.2% of consumers preferred debit as their primary payment card, compared to 39.5% for credit, according to a report from S&P Global Market Intelligence. Those numbers represent a dramatic change in the …

Blockchain players have been working for years to bring digital currencies to the point of sale, leading to Circle Internet Financial LLC’s announcement Thursday it has acquired a San Francisco-based payments-technology firm called Elements to make it easier for stores to take crypto, including Circle’s stablecoin, USD Coin (USDC). Terms …

Angelpaw, which provides software to track pet cremation and aquamation, launched a buy now, pay later service for these services. Interest-free installment payments are made over 60 days and the provider receive funds immediately.Payroc WorldAccess LLC said its Worldnet platform is now enabled on the PAX A920 point-of-sale device as the …

In response to consumers’ growing concerns over the security and management of their personal data by businesses with which they interact, ATB Ventures on Thursday introduced its Oliu platform, a set of identity products aimed at helping businesses safely manage and verify the credentials of consumers they interact with digitally. …