Transaction Processing

With the introduction in Congress on Thursday of a bill that attacks rising credit card acceptance costs, lobbyists for both sides of the issue lost no time firing broadsides, pro and con, over the matter. The legislation, co-sponsored by Richard Durbin, D-Ill., and Roger Marshall, R-Kan., seeks to ratchet down …

PayGround, a payments fintech specializing in health care, completed a $5.5-million funding round led by FCA Venture Partners and Lewis & Clark Ventures. The financing follows a $4-million seed round for PayGround last year.Chargebacks911 said its partnership with FIS Inc.’s Worldpay unit now includes Disputes Deflector, a set of chargeback and …

Mastercard Inc. executives are paying close attention to a new proposal in the U.S. Congress that could alter merchant choice in routing credit card payments. Concurrently, its earnings are riding the crest of a wave that includes consumer spending and the resurgence in travel. A bipartisan bill sponsored by senators Richard …

With a pair of U.S. Senators preparing to introduce a bill that would allow merchants to process Visa and Mastercard credit card payments over other networks, payments experts reached by Digital Transactions News are sharply divided on the idea. The bipartisan bill, sponsored by Richard Durbin, D-Ill., and Roger Marshall, …

Daystar Payments has launched as a payments processor aiming to sign 1,000 independent sales organizations by the end of 2023, with a focus on attracting minority-owned businesses.Weave, a provider of customer-communication technology, launched a buy now, pay later platform for health-care providers. The company introduced a payment-processing platform in late 2019.The Strawhecker Group, …

MX Technologies Inc. has expanded its reach into the emerging field of open banking through partnerships with Sionic Mobile Corp., a provider of consumer-to-business payments technology, and FuturePay Inc., a provider of digital revolving credit solutions for e-commerce merchants and their customers. Sionic is embedding MX’s instant account-verification and account-aggregation …

Visa Inc. late Tuesday reported a continued recovery in cross-border payments, double-digit increases in U.S. payments volume, and no let-up in the industry’s general shift to contactless payment. It also faced a question regarding Visa Direct and its links to instant peer-to-peer payments services that the Consumer Financial Protection Bureau …

Consumers making a mobile payment at least once a week increased to 58% in the first half of 2022, compared with 46% in the same period in 2021, according to ACI Worldwide Inc.’s latest 2022 ACI Speedpay Pulse survey.E-commerce specialist Signifyd said a survey it commissioned found that 66% of respondents cut back their …

Merchant acquiring is Fiserv Inc.’s largest and fastest-growing business, and in the second quarter it showed no signs of slowing down. Driven by technologies like Clover, a set of point-of-sale gear, and Carat, a fast-growing commerce platform, the acquiring unit posted $1.9 billion in revenue in the quarter ended June …

Waitr Holdings Inc., which is changing its name to ASAP, said it will be the exclusive mobile ordering platform for the New York Giants, New York Jets, and MetLife Stadium, the venue shared by both teams.The worldwide tokenization market is forecasted to grow from $2.6 billion in 2021 to $12.7 billion by …