One of the biggest changeovers in the history of general-purpose credit cards is set for this weekend when warehouse retailer Costco Wholesale Corp. stops accepting American Express Co. cards and begins taking Visa Inc. cards. In an email to its customer-members this week, Issaquah, Wash.-based Costco said to “mark your …

Issuers contending with payment card fraud will have to factor in mobile wallets, especially as the battle to thwart account takeovers intensifies. A majority of issuers—56%—said they cannot further reduce account takeovers without hurting the customer experience, according to a card-issuer fraud study released recently by LexisNexis Risk Solutions and …

New technologies and market entrants are exerting downward pressure on acceptance costs for mobile payments. But how much longer will these costs matter? Card payments can be exceedingly complex, but in some ways they’re simple. Whip out a functioning credit or debit card to pay in a store and the …

• Some 27% of consumers who have a smart phone capable of performing mobile payments have used Apple Pay, Samsung Pay, or Android Pay at least once, according to the latest Mobile Pay Tracker survey from Auriemma Consulting Group. Of this group, 31% say they pay with these methods every …

• Wells Fargo & Co. announced its Wells Fargo Wallet will launch this summer and be incorporated into the banking giant’s mobile-banking app for Android devices, giving customers the ability to make contactless near-field communication payments directly from the app. The app, developed in-house, also will work at Wells Fargo …

• PayPal Holdings Inc. no longer will provide purchase protection for transactions made on crowdfunding platforms such as Kickstarter, potentially dealing a blow to the nascent crowdfunding industry, CNBC reported. • In a letter to Green Dot Corp. shareholders, Harvest Capital Strategies, which owns 9.3% of Green Dot, said it …

Our list this year showcases some of the most interesting innovation going on in payments. As we put together this year’s Guide, we were struck by the sheer breadth of innovation the 37 entries that made this year’s list represent. Yes, much of this technology has to do with mobile …

By controlling debit interchange and supercharging the administrative state, the Durbin Amendment has inflicted immense harm, says Eric Grover. With virtually no debate, the Durbin Amendment was sold as pro-consumer, pro-small bank, and pro-merchant—a political trifecta. Widely understood to be bad for politically unsympathetic large banks, U.S. Sen. Richard Durbin, …

Despite 7% transaction growth, First Data Corp. on Monday reported that revenue in the company’s North American merchant-processing business declined 2% in the first quarter. In an early-morning conference call with analysts, First Data executives several times blamed attrition among small and mid-sized North American businesses, or SMBs, in its …

Walmart Pay, the mobile-payments app developed by Wal-Mart Stores Inc., is now broadly available to consumers as part of version 6.8 of the retailing titan’s shopping app, introduced this week for Apple Inc. smart phones. The app update, available on the iTunes store, says Walmart Pay will be “available in …