The real winners from the Fed’s latest debit card routing rule aren’t the merchants. And they certainly aren’t the banks. Guess who? In the last decade, the flow of funds across debit card networks has curiously become a concern of Congress and the Federal Reserve.  It all began with the …

By Michelle Jordan, SVP and Head of Payment Optimization The weighted average cost of payment acceptance is expected to have doubled from around 0.8% in 2009 to over 1.6% by 2025.[i] Fueled by the abundance of rewards cards, the shift to online payments, and the rise of commercial purchasing cards, …

Shift4 Payments Inc. has expanded its merchant-gaming portfolio by striking a deal with the Chickasaw Nation to process payments across all of its tribal-owned casino and non-casino locations, as well as third-party venues, such as valet services or restaurants operated by third parties within Chickasaw-owned casinos. The Chickasaw nation, the …

Authorized push payments fraud is expected to reach $5.25 billion in fraud losses in the United States, United Kingdom, and India by 2026, according to research from ACI Worldwide Inc. and GlobalData, an analytics firm. In 2021, U.S. authorized push payment fraud was $1.6 billion and is forecasted to be $3.1 …

The kinetic energy powering the open-banking wave continues to build. On Thursday, fintech Sila Inc. and MX Technologies Inc. announced tokenized integration for bank-account verification through MX’s MXapi Processor Tokens. The tokens will enable clients of Sila and their end users to digitally verify bank accounts and account data for …

As one who has spent an entire career working with community banks, credit unions, and merchants, I can say it’s abundantly clear how they all suffer from a broken payments system, with the Fed’s automated clearing house being the lone exception. While merchants and community banks don’t share the same …

SoundExchange, a non-profit that collects and distributes digital performance royalties for sound recordings, is now enabling registered soundtrack creators to receive royalty payments through Zelle and Block Inc.’s Cash App mobile-payment service. Washington D.C.-based SoundExchange is a non-profit collective rights-management organization designated by Congress to collect and distribute digital-performance royalties …

Two of the more significant merchant-processing operators reported quarterly results Thursday morning, with FIS Inc. indicating its merchant solutions unit recorded $1.18 billion in revenue in the period ended Sept. 30, up 4% year-over-year. Meanwhile, the large payments provider EVO Payments Inc. said its revenue for the same period totaled …

Socure Inc., a provider of digital-identity verification and fraud detection, has become the latest company to join the expanding universe of open-banking technology providers. On Tuesday, Socure announced the launch of Socure Account Intelligence, an application that verifies domestic bank-account status and ownership of the account into which funds are …

The payments business has moved on from the pandemic, but it faces a host of other issues. Here’s our annual catalog of the ones causing the most headaches. Welcome to Digital Transactions’ annual catalog of headaches—the problems, pitfalls, and perils facing the business of processing digital payments. We review these …