Under an expanded agreement, cross-border payments specialist TransferWise Ltd. will issue Mastercard debit cards in any market globally where Mastercard is accepted and TransferWise is licensed. TransferWise has issued more than 1 million cards globally since the agreement commenced in Europe in 2018.Consumer satisfaction with credit card issuers is plummeting as the Covid-19 pandemic …

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 …

The Covid-19 crisis is making cobranded travel credit cards less valuable.  Demand for travel has taken a nosedive amid flight restrictions to international destinations, mandatory stay-at-home orders, and rising alarm over the coronavirus pandemic. Airlines have had to cancel flights and ground thousands of aircraft. Airline lounges and hotels have …

Customer data from 4 million payment cards stolen in breaches at four restaurant chains has gone up for sale in the Joker’s Stash underground bazaar, KrebsOnSecurity reported. The breaches occurred at nearly half the 1,750 total locations of Krystal, Moe’s Southwest Grill, McAlister’s Deli and Schlotzsky’s, the latter three of which are owned by …

Sitting in a meeting in New York City, Clay Wilkes put his company’s latest innovation to the test. “We onboarded a company, funded the master funding account, created an individual account, and moved funds from the master funding account, and bought a gift card on Amazon,” he recalls. “Someone in …

Mastercard Inc. completed its acquisition of Transfast, a cross-border payments specialist. Terms were not disclosed. Transfast provides B2B and person-to-person payment services through a network it says covers more than 125 countries and includes direct integrations with more than 300 banks and other financial institutions. The company also supports Mastercard …

Independent sales organization Pineapple Payments announced it acquired rival Card Champ. Both ISOs are based in Pittsburgh. Terms were not disclosed. Diebold Nixdorf Inc. released the DN Series of ATMs. Diebold said 18 financial institutions in 13 nations are testing the machines. Payment Data Systems Inc. changed its name to …

Private-equity firm Acuity Capital Partners LLC acquired specialty gift card manufacturer Sterling Card Solutions, according to Sterling’s financial advisor, the investment bank Capstone Headwaters. Terms of the deal were not disclosed. Besides gift cards, Sterling makes hotel key cards, identification cards, phone cards, and other products. Half the world’s population, …

Mastercard Inc. announced contactless-payment capability will go live in 20 U.S. cities “within the next few years,” starting with subway and bus systems later this year in New York City, where the company is working with transit-technology firm Cubic Transportation Systems. Bitmo, a startup that offers mobile gift cards that …

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 …