Veritran, a U.S. technology company, said it is working with global financial-messaging service Swift to enable a smoother process for bank customers looking to make cross-border payments. Some 78% of community and regional banks plan to widen payments and merchant services for small businesses in coming months, with 96% planning …

Capital One Corp.’s chief executive late Thursday struck back against concerns that the banking giant’s proposed acquisition of Discover Financial Services will dampen competition in banking and payments. “The facts will show there are no barriers to entry in the credit card business,” declared Richard Fairbank as he fielded questions …

Buy now, pay later provider Splitit Payments Ltd. has launched an installment-payment option for financial institutions that consumers can access at the point-of-sale. Financial institutions can offer the option by connecting directly to Splitit’s merchant networks, through a direct link or through a card network. The payment option, called FI-PayLater, …

Consumers using SNAP and electronic benefits transfer payments at a U.S. Walgreens Boots Alliance Inc. store now have broader access to the services through DoorDash Inc., a third-party delivery service. Announced Wednesday, the deal means Walgreens shoppers can use their SNAP/EBT payments card at any Walgreens, regardless of where they …

The Merchants Payments Coalition released a 30-second TV ad that says the Credit Card Competition Act, a measure that would stipulate merchants have credit card routing choices, would prohibit China’s credit card network UnionPay from processing U.S. credit card transactions. Currently, no regulation prohibits that the MPC says. The CCCA, if passed, would …

Open banking, the ability for third-party developers to access financial data in traditional banking systems, as defined by Stripe Inc., may provide one component for a new payment type, at least one that has limited use today. Pay by bank, a payment method that enables an online payment without the …

(Editor’s note: This is Part II of a two-part article. Part I appeared Thursday.) Interchange fees paid by merchants are the credit card industry’s second-largest revenue source. For debit cards and neobanks, these fees are a primary revenue source. The 2010 Dodd-Frank Act imposed price controls on debit interchange fees …

American Express Co. reported first-quarter 2024 revenue of $15.8 billion, up 11% from the same period last year, and billed business of $367 billion, up 6%. Net income grew 34% to $2.44 billion. Affinipay, a payments platform specializing in the legal and accounting professions, said it has expanded its LawPay and …

The Cato Institute’s Nicholas Anthony warned recently that the Biden Administration is waging “a war on (payments-industry) prices.” The payments industry provides services funded by a range of fees paid by consumers and businesses. Demagogic regulators and politicians pillory industry fees as exploitative, as “junk fees,” and “a tax.” These …

Visa Inc. on Wednesday unveiled enhancements intended to further remove friction from the customers’ payment experience for merchants of all sizes. The enhancements, which are being launched on Visa’s Acceptance Platform, were developed in response to merchants’ needs for simpler implementation of payments technology, Visa says. The enhancements include Developer …