Transaction Processing

Discover Financial Services said it will file restatements of “certain prior period financial statements” and will “as soon as practicable” after that conduct a special stockholder meeting to vote on the company’s proposed merger with Capital One Corp. The proposed merger was announced early this year. Vault, a Canada-based financial platform, has initiated …

Consumers will spend a record $650 per person during Black Friday-Cyber Monday shopping events, a 15% increase from last year, according to a study from Deloitte. During the Black Friday-Cyber Monday period, 56% of consumers say they plan to spend more than half their holiday shopping budgets, compared to 47% …

Some 79% of airline passengers globally use debit and credit cards for all or most airline travel, but digital wallets and instant payments are gaining ground, according to “Online Airline Booking Insights 2024,” a report from ResearchAndMarkets.com. Some 72% of passengers book most of their trips online. Nearly two-thirds of U.S. …

While 78% of consumers say they are willing to pay more to shop at small merchants to help those businesses flourish, most plan to shop at large retailers as the holiday shopping season kicks off, a survey from payments processor NMI says. When the holiday shopping season officially kicks off …

Consumers irked by the difficulty of unenrolling from some subscription services will gain relief May 14, when merchants must be compliant with the Federal Trade Commission’s revised Negative Option Role, otherwise known as click to cancel. Merchants, however, have a lot of work between now and then. The rule, which …

The Bureau of the Fiscal Service, part of the U.S. Treasury Department, has appointed the Bank of New York Mellon Corp. to manage the bureau’s Direct Express prepaid debit card program under a five-year agreement, starting Jan. 3. Fraud-prevention platforms Bectran Inc. and Giact Systems LLC are partnering to offer companies services …

Flywire Corp., a specialist in payments for higher education, has partnered with Blackbaud Inc., a provider of fundraising, education, and social impact apps, to enable digital tuition payments in the United States for international students. The deal covers more than 1,000 K-12 private and independent schools served by Blackbaud and …

Federal regulation is coming to payments apps offered by the country’s biggest tech companies. The Consumer Financial Protection Bureau said early Thursday it has “finalized” a rule that will regulate wallets and digital money transfers offered through payments services such as those of Apple Inc., Block Inc., Google LLC, and …

Members of the Senate Judiciary Committee told representatives of Visa Inc., Mastercard Inc., and the merchant community on Tuesday it was time to “negotiate” an end to their decades-old dispute over credit card swipe fees. The comments came during a Senate Judiciary Committee hearing billed as “Breaking the Visa-Mastercard Duopoly: …

Authorized push payment fraud could reach $7.6 billion in six markets, ACI Worldwide Inc. says in its latest Scamscope report. Released Wednesday, the report looks at APP fraud in the United States, United Kingdom, India, Brazil, Australia, and the United Arab Emirates, all markets with real-time payments. APP fraud happens …