Visa Inc. is urging e-commerce merchants still using Adobe Inc.’s Magento 1 platform to upgrade to the newer Magento Commerce 2.3 because Magento will stop supporting Magento 1 at the end of June. Merchants continuing to use the older platform will fall out of compliance with the Payment Card Industry …

The screeching slowdown in consumer spending caused by efforts to stem the spread of the Covid-19 pandemic has hit U.S. small businesses particularly hard, but there are some bright spots, according to the Electronic Transactions Association and merchant-acquiring research and consulting firm The Strawhecker Group. The survey of more than …

Like other payment networks, the automated clearing house was going great guns until mid-March, but thanks to the Covid-19 pandemic it’s now in the midst of a slowdown. ACH governing body Nacha reported Thursday that total volume rose 7.1% year-over-year in the first quarter to 6.4 billion transactions, up by …

Visa Inc. and Mastercard Inc. have postponed their planned U.S. interchange revisions until July, but when these changes do take effect the net impact on merchants will be deep, according to an analysis released by CMSPi, an Atlanta-based global merchant payments consultancy. Indeed, the new pricing planned by the two …

The good news is that attempted and actual payments fraud declined last year. The bad news is it went down only a tick and remains very close to the all-time high, according to the latest report from the Association for Financial Professionals, a Bethesda, Md.-based trade group for companies across …

Losses from identity fraud grew 13% in 2019 to $16.9 billion even though instances of ID fraud fell nearly 10%, according to the newly released 2020 Identity Fraud Report from Javelin Strategy & Research. The study also found that person-to-person payments fraud increased 733% from 2016 to 2019. Based on …

Two point-of-sale system providers are taking action to help ailing restaurants as they contend with the repercussions of measures to stem the Covid-19 infection. First, TouchBistro Inc., a provider of payments technology for restaurants, launched its Restaurant Recovery Navigator, a collection of products and services aimed at helping dining establishments …

Contactless payments already capture a big share of point-of-sale purchases in Canada, and that share is sure to grow with recent announcements by Visa Inc. and Mastercard Inc. that they are raising their contactless transaction limits to C$250 to limit the handling of cards that could spread the coronavirus, according …

As many merchants, especially those in hospitality, are challenged by slumping consumer demand amid the Covid-19 outbreak, payments companies are developing new resources and designating millions in aid. Restaurants, in particular, are experiencing steep drops in demand as consumers abide by shelter-at-home directives. They’re closing their dine-in spaces and, if …

The Covid-19 virus is taking a fearful toll not only on lives but also on U.S. commerce, and now even everyday staples are feeling the pinch. Grocery stores saw a sharp spike in card-based purchase volume in March as consumers scrambled to lay in supplies against the rapid spread of …