Mastercard Inc. is offering some concessions in its bid to win approval from European Union competition authorities for its planned $3.2 billion acquisition of major parts of Denmark-based payment processor Nets Group, Reuters reported.California’s Department of Motor Vehicles selected payments provider Forte Payment Systems to oversee the DMV’s e-check verification process.Digital-banking technology provider Tyfone Inc. has …

The global retail-payment networks Mastercard and Visa are on a tear, acquiring and investing in adjacent payment-opportunity space in networks that can leverage and reinforce their existing franchises.  Their traditional payment schemes are dominant worldwide and near indestructible. While for the foreseeable future they could grow on autopilot, to their …

The fallout from the Wirecard AG financial scandal has hit the U.S. market as the processor’s North American unit announced late Monday it is seeking a buyer. Wirecard North America Inc., based in Conshohocken, Pa., said it has engaged an unnamed investment bank to assist in the transaction. In the …

German payments provider Wirecard, which entered the U.S. market in 2016, filed for insolvency, it announced Thursday, following the disclosure last week of more than $2 billion in disputed cash. It is evaluating whether insolvency will be filed for its subsidiaries.In an update, Mastercard Inc. reported its switched transaction volume recorded a 1% increase in the …

Mastercard Inc. announced Amazon.com Inc. will start using tokens to replace actual customer card data throughout 2020. Tokenization replaces actual card data with data strings that are meaningless to outside parties. The process also permits automatic credential updating when cards expire.Payments card standards body EMVCo made it official—consumer-facing online-payment checkout options based on …

The meaning of meetings has changed.  In-person contact is so vital to the payments ecosystem – not only in the way some of its products are used, but also in the way that those products are sold to merchants, and industry partnerships are formed. The Electronic Transactions Association, producers of …

Payment card manufacturer CPI Card Group Inc. said first-quarter sales of credit and debit cards rose 22% from a year earlier to $59.8 million, driven in part by strong demand for dual-interface EMV cards that support contactless payments. The company reported first-quarter net income of $2.42 million versus a loss of $3.06 …

It’s well known that Alphabet Inc.’s Google unit wants to offer consumers checking accounts, though that service has yet to launch. But the search-engine giant also reportedly is developing a debit card that would work in concert with its Google Pay mobile-payments service, according to news reports from Silicon Valley. …

Twenty European banks are working on setting up a pan-European payment system to challenge Visa, Mastercard and technology companies such as Google and PayPal, according to press reports. The project is code-named PEPSI, for Pan European Payment System Initiative.In a development that signals an opening in China’s long-protected payments environment, Chinese mobile-payment giants …

Samsung Electronics Co. Ltd. has been seeking lately to differentiate its 4-year-old Samsung Pay mobile payments service, and on Monday came its latest gambit: an integration with Curve 1 LTD, a London-based startup that allows cardholders to consolidate all of their Mastercard and Visa cards into a single card or …