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 …

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 …

WooCommerce is making Affirm Holdings Inc. its default buy now, pay later payment option, the e-commerce platform provider announced early Thursday. WooCommerce has offered Affirm as a payment option since 2015. In 2022, WooCommerce began offering Affirm to its merchants in Canada.  As part of the deal, eligible merchants will …

The Consumer Financial Protection Bureau early Friday said it has sued Early Warning Services LLC as well as Bank of America, JPMorgan Chase, and Wells Fargo, alleging the Zelle person-to-person payments network failed to protect consumers against fraud. The banks are three of the seven financial institutions that own Early …

The demand for more flexible pricing from independent software vendors using Worldline’s payment-processing services has spurred a new pricing model. Dubbed FlexPricing, the feature enables ISVs to adapt their pricing strategies to best suit them, Worldline says. Among the capabilities: charging a percentage fee on bank transfer transactions, adding custom …