Money-transfer firms are looking for new ways to leverage their extensive international networks, with the latest development emerging early Wednesday as MoneyGram international Inc. announced it is opening its system to BOTIM, a voice-over-Internet protocol (VOIP) provider with 90 million users in the Middle East and Africa. The deal, which …

A major venture by some of the country’s biggest banks to launch a digital wallet using a platform from Early Warning Services LLC, news of which emerged early Monday, is likely to benefit from the banks’ technology resources. But it could be hindered by consumers’ entrenched preferences for major-brand wallets …

Citcon USA LLC is partnering with Klarna AB to add Klarna’s payment services to its mobile wallet for in-store and online purchases. The move expands to Citcon merchants Klarna’s Pay in 4 buy now, pay later loans, as well as Klarna Pay in 30 and other Klarna financing products. Consumers …

Oracle Corp. launched its Retail Payment Cloud Service to support contactless payments for U.S. retailers at fixed-fee rate pricing. Mercatus Technologies Inc. debuted an updated version of its mobile grocery shopping app that includes seamless cart building and checkout, personalization, rewards and loyalty, and third-party delivery service integrations. MobileCoin Inc. launched Moby, a …

U.S. retail sales in the Nov. 1 to Dec. 24 period, excluding automotive, grew 7.6% compared to the same time in 2021, according to Mastercard Inc.’s SpendingPulse, which tracks in-store and online sales. E-commerce sales alone were up 10.6%. The calculation took account of all forms of payment but was not …

The Consumer Financial Protection Bureau has ordered Wells Fargo Bank to pay $3.7 billion, including a $1.7-billon civil penalty and $2 billion in redress to consumers, for what the bureau says were illegal fees and interest charges on auto and mortgage loans, incorrect charges on checking and savings accounts, and other “incorrect” …

The Consumer Financial Protection Bureau has become a much more active regulator of payments and other financial industries since the onset of the Biden Administration, and on Monday the agency lent further momentum to that trend. The 11-year-old federal agency is now asking for public comment on a proposal that …

About three-quarters of online shoppers walk away when they get to checkout, erasing more than $100 billion a year in potential revenue. What is to be done? Most people celebrate December because they’re expecting to enjoy the season’s good cheer—as well as some long-expected gifts. Merchants, of course, like the …

One legacy of the pandemic is how the shift to contactless, remote, and other forms of payment has enabled small businesses to compete with big enterprises. During the pandemic, retail commerce shifted almost overnight from primarily cash, card, and in-person transactions to primarily contactless, digital, and remote payments. For merchants, …

The payments industry has forged a symbiotic relationship with cloud computing. That isn’t likely to be swept away any time soon. More than two years ago, Global Payments Inc. took a big leap into marrying cloud computing with payments. The big payment processor signed an agreement with Amazon.com Inc. to …