Transaction Processing

Zelle, the peer-to-peer payments service, had a banner 2018 with $119 billion in payments on 433 million transactions processed via its network of banks. That is a 58.7% increase in payments from 2017’s total of $75 billion and a 75.3% increase in transaction volume from 247 million. The increases were …

Data-communications provider Transaction Network Services acquired R2G Services, a Chicago-based provider of a market-data and managed-hosting platform; terms were not disclosed. Payment processor Repay Holdings LLC, which private-equity firm Corsair Capital acquired in 2016, said it has a definitive merger agreement with Thunder Bridge Acquisition Ltd., a special-purpose acquisition firm …

Stripe Inc. has recruited peer-to-peer financing provider Funding Circle to extend loans to merchants using Stripe to process payments. The London-based lender has joined the Stripe Partner Program, allowing merchants to apply for loans up to $500,000 by uploading data that can support their application. San Francisco-based Stripe says it …

JPMorgan Chase & Co.’s Chase credit card unit and the Marriott International Inc. hotel chain introduced a contactless cobranded card, the Marriott Bonvoy Boundless card, to replace the Marriott Rewards Premier Plus card. American Express Co. announced the rebranding of its current portfolio of cards for customers of Marriott International Inc.’s …

The activist hedge fund behind the move to take remote deposit capture software provider Mitek Systems Inc. private said Tuesday that it has acquired a 4% stake in eBay Inc. and is advocating for changes to improve the online marketplace’s profitability, including through payments opportunities. New York City-based Elliott Management …

Apple Inc. on Tuesday announced Target Corp., Taco Bell, and two regional chains are the latest merchants to agree to accept Apple Pay in-store, a development that could bolster the mobile-payments service and further smooth the road for contactless payments in the United States. Separately, Target announced it will also …

The proposed mega-deal that has Fiserv Inc. buying First Data Corp. for $22 billion presents integration issues that could take up to 10 years to iron out, according to a new report. “The integration of two companies of this scale will undoubtedly be a challenge—the short-term shock will take more …

The European Commission, the European Union’s antitrust regulator, fined Mastercard Inc. €570.6 million ($648.2 million) for restricting merchants’ ability to sign with an acquirer in another EU single-market country with interchange rates lower than rates in the merchant’s home country before December 2015, when regulations capped EU interchange. The Commission …

Almost a year after Visa Inc. altered the chargeback-resolution process, merchants are reaping some of the benefit. A survey of 500 Chargeback Gurus merchants found that 78% have fewer chargebacks under the Visa Claims Resolution program. “The first goal was to streamline the dispute process,” Suresh Dakshina, Chargeback Gurus president, …

The two co-founders of online transaction processor Adyen are now billionaires thanks to last week’s market upturn, according to Forbes. Chief executive Pieter van der Does holds a 4.8% stake in the company, which went public last year. Arnout Schuijff, chief technology officer, holds a 6.4% interest. Among Adyen’s U.S. …