Under pressure from the European Commission, Apple Inc. agreed Thursday to open the contactless-payment technology in its iPhone for payments on wallets from outside developers. The agreement follows two years of investigation by the regulator, which has argued the exclusion of rival wallets from using the iPhone’s near-field communication chip …

Contactless transactions were supercharged by the pandemic, and now slightly more than half of U.S. cardholders are using the technology when they pay with either cards or wallets, according to Mastercard Inc. research. With that kind of momentum behind them, researchers are looking at ways to expand near-field communication technology, …

Payments provider Payroc WorldAccess LLC has agreed to pay $440 million to acquire the merchant-of-record payments business of i3 Verticals Inc., a provider of software and services to public and private companies. Afterpay, a buy now, pay later platform and part of Block Inc., said 82% of BNPL users said the service …

The number of identity-theft cases fell last year, but criminals are getting savvier about how to win their victims’ confidence, with more of them relying on newer tools like artificial intelligence. And credit cards and other financial products remain a top target. That’s the mixed message from the Identity Theft …

WeGetFinancing has partnered with SensePass, a provider of alternative payment solutions, to provide a buy now, pay later solution for high-ticket items. WeGetFinancing is a BNPL gateway operated by Emerging Payments Technologies Inc. Merchants on the SensePass platform can now offer BNPL financing for purchases of up to $15,000, with …

Contactless payments are forecasted to surge 113% in value by 2029, reaching $15.7 trillion by 2029, up from $7.4 trillion this year, predicts a new report from Juniper Research. Ticketing and soft point-of-sale applications will be significant drivers of this growth, United Kingdom-based Juniper says. “As access becomes more widespread, …

Delta Air Lines Inc. is adopting Tap to Pay on iPhone for its U.S. flights, a move made in conjunction with processor Elavon Inc. Delta has long accepted card payments on flights, having adopted a card-only policy in 2009 for North America flights, The Atlanta Journal-Constitution reported then. The move …

Groups representing Illinois financial institutions, along with the Electronic Payments Coalition, say they will fight to overturn the Illinois Interchange Fee Prohibition Act, which was passed earlier this month and is set to go into effect July 1 next year. Opponents of the bill are continuing an ad campaign to …

Everyone has encountered the upsell. It’s the extended-warranty offer when buying a TV, or the ask to add a Danish to the coffee you just purchased. Now, CardFree Inc. has released a tool to help merchants automate the upsell with its new Smart AI Upsell feature. A component of CardFree’s …

Providing consumers more ways to pay and engage with merchants play key roles in driving consumer purchasing decisions, according to Fiserv Inc.’s Spring 2024 Carat Insights Report. One way for merchants to engage on a deeper level with consumers is to offer apps featuring loyalty and rewards programs and that …