Transaction Processing

A startup called iWallet announced technology it says supports voice-based ordering using artificial intelligence, while also being compliant with the Payment Card Industry data-security standard. Bitget Wallet, a cryptocurrency platform, said it has surpassed 60 million users globally, achieving a 300% growth rate in user count for 2024. Janover Inc., a commercial …

[Editor’s note: Originally posted Aug. 16, this article is #8 in Digital Transactions News’ countdown of 2024 posts by views.] Several organizations representing banks and credit unions filed a lawsuit late Thursday challenging Illinois’s Interchange Fee Prohibition Act, which was signed into law June 7. The lawsuit, filed in United States District …

[Editor’s note: Originally posted Jan. 16, this article is #10 in Digital Transactions News’ countdown of 2024 posts by views.] Giant payment processor Fiserv Inc. wants to take on another aspect of the business with its application for a special bank charter in Georgia. The charter for a merchant-acquirer limited purpose bank, …

[Editor’s note: Originally posted June 24, this article is #9 in Digital Transactions News’ countdown of 2024 posts by views.] Paze, the online checkout platform backed by some of the nation’s biggest banks, is barreling through a state-by-state rollout that could culminate in nationwide coverage by late summer or early fall, according …

The FinCEN Beneficial Ownership Information mandate is back in force with a recent court decision. That rule, part of the Corporate Transparency Act passed in 2024,had required businesses to file a Beneficial Ownership Information report by Jan. 1, which was delayed earlier in December but now makes these reports due Jan. 13. Businesses formed …

Blackhawk Network will offer physical gift cards to users of Snapchat’s subscription service, Snapchat+. Snapchat is a messaging platform. The digital-payments platform Wirex has added two stablecoins, VNX Euro and VNX Swiss Franc, allowing users to spend the currency directly through their WIrex cards. Payments via QR codes will “shift from one niche …

The Merchants Payments Coalition fired back late Monday at a request last week from the American Bankers Association that the Federal Reserve not act on a proposal to lower a longstanding limit on the interchange banks can earn on debit card transactions.  In a letter to the Fed, the MPC …

United States District Court Judge Virginia Kendell granted a preliminary injunction late Friday that provides banks some relief from the pending Illinois Interchange Fee Prohibition Act, but also gives merchants reason to cheer. Kendell, who is overseeing a lawsuit filed against the IIFPA, ruled the injunction applies only to financial …

Fiserv Inc. is looking to beef up its capabilities in embedded payments with an agreement to acquire Payfare Inc., a Toronto-based company, for $201.5 million Canadian, or approximately $139 million in U.S. currency. The deal, which was announced early Monday and is subject to shareholder approval, comes as processors look …

The Consumer Financial Protection Bureau has sued Walmart Inc. and Branch Messenger Inc. over allegations of fees for transferring earnings made by individuals in the Walmart Spark Driver program. The CFPB alleges Walmart forced delivery drivers to use Branch deposit accounts. To move funds from these accounts to another drivers faced “a …