The Judiciary Committee of the U.S. Senate heard testimony Wednesday from witnesses both for and against regulation of credit card interchange. Speakers represented a supermarket chain, merchant groups, Mastercard and Visa, and a bank. The hearing showed that “while more Democrats than Republicans likely would support greater intervention in the …

Against a background of emerging real-time payments and steady growth in automated clearing house transactions, The Clearing House Payments Co. LLC is working to mask those transfers with a technology the payment card business has used for years—tokenization. The job is enormous. “We’re just starting—it’s going to take time,” says …

Processor Fiserv Inc. announced it is adding buy now, pay later services from Affirm Inc. to its Carat operating system. Affirm joins Bread, Synchrony, and Zip as current providers. Affirm said its service will be the first fully-integrated BNPL provider with Carat.Payments provider Rapyd Financial Networks Ltd. launched Virtual Accounts, intended to allow businesses anywhere globally …

Some processors are ready to put the pandemic behind them, but FIS Inc. may have already done it. The big payments processor and banking-services provider early Tuesday reported its merchant revenue increased 15% year-over-year in the first quarter, a number that exceeded the company’s expectations, chief executive Gary Norcross told …

The Clearing House Payments Co. LLC announced it will soon introduce tokenization for checking account and routing numbers on transactions financial institutions run over TCH’s RTP real-time payments and EPN automated clearing house networks.Of 80 mid-tier U.S. financial institutions surveyed by Volante Technologies, 37% of these not already connected to The Clearing …

Cash use is down and digital payments are up for restaurants. How has this changed the payments landscape for this merchant segment? Cash use is down. Customers want and demand new ways to order. Staffing is more challenging and costs are going up. For restaurants, this litany of operational issues …

It is incumbent on all of us, witnessing in our living room the horrors of Ukraine, to ask ourselves: is there something we can do? For the digital-payment community, the answer is yes. Bitcoin and its many variants are technologies that have been serving the purposes of investors, speculators, criminals, …

Is the Zelle peer-to-peer payments network soon going to the point of sale? That’s the big question raised by payments-industry experts after The Wall Street Journal reported in April that Bank of America Corp. and Wells Fargo & Co.—two of the seven big financial institutions that own Early Warning Services …

The CFPB director should stop imposing politics on payments and stick to his remit. Rohit Chopra, director of the Consumer Financial Protection Bureau, in March shared his conjured alternative-payments universe with politically simpatico CNBC. Relishing his celebrity, Chopra held forth on inflation, payment-system competition and fees, and cryptocurrency risk. The …

Thanks to more businesses implementing fraud-prevention tools, global digital fraud decreased more than 22% during the first quarter of 2022, compared to the same period a year earlier, according to TransUnion LLC’s quarterly digital-fraud analysis, released Thursday.  On a per-category basis, financial services, telecommunications, and retail all saw declines in …