Transaction Processing

U.S. Bancorp’s Payment Services unit posted a 28% gain in net income in the second quarter, in part due to higher merchant-processing volumes. The unit, one of five major divisions at the Minneapolis-based super-regional bank, produced a $361 million profit versus $282 million a year earlier, or 21% of the …

After weeks of listless trading, Bitcoin has rallied over the past 24 hours, shooting up from the high-$6,000s to the mid-$7,000s in a move that has brought new energy to other leading cryptocurrencies. Coincidentally, Mastercard Inc. on Tuesday was awarded a patent for a system that could allow users of …

Walmart shoppers who have access to Apple Pay and have a payment preference are twice as likely to use Apple Pay rather than Walmart Pay, but discounts and other deals could tip the scales back in Walmart’s favor, according to a study by Auriemma Consulting Group. Payments provider Century Business …

Payments gurus for years have touted benefits like faster transactions, improved security, and associated rewards when it comes to mobile payments. Now a study released Tuesday indicates converting off-the-books cash payments to digital methods could also boost a nation’s gross domestic product and augment the flow of tax revenues to …

Co-Op Financial Services said it is adding cardless ATM transactions to its roster of services for credit unions. Dubbed Cardless Cash Access, the service is available on Diebold Nixdorf and NCR ATMs within the Co-Op ATM Network that are managed using the Co-Op Terminal Driving program. Hyperwallet, whose technology enables …

Cross-border payment specialist PPRO Group raised $50 million in a funding round led by PayPal Holdings Inc., Citi Ventures, and HPE Growth Capital, the London-based company announced Monday. The funds will be used to expand internationally, including the United States, where it opened an Atlanta office earlier this year. PPRO …

Payment processor Worldpay Inc. said it will bring Mastercard Inc.’s Pay by Bank mobile and online payment application to its United Kingdom merchants in early 2019, and also will use other Mastercard digital services. Launched in 2016 by London-based payment-technology developer Vocalink, which Mastercard acquired in May 2017, Pay by …

Online travel agency CheapAir.com says it has found a workaround that will let it continue to accept cryptocurrency, and Payroc LLC has become the latest payments provider to offer crypto to merchant clients. Calabasas, Calif.-based CheapAir notified customers on Friday that it has found a new provider for Bitcoin acceptance …

The New York Department of Financial Services has granted a virtual-currency license to cryptocurrency processor BitPay, allowing it to do business with companies and consumers in the state of New York. In an apparent cost-cutting effort, Samsung Electronics Co. Ltd. is no longer including the Samsung Pay mobile-payments service in its …

Two of the nation’s largest banks on Friday released some details about their payments businesses indicating robust growth despite their size. JPMorgan Chase & Co., which operates one of the nation’s biggest merchant-processing centers, reported its merchant volume grew 12% in the quarter ended June 30, to $330.8 billion. For …