Rite Aid Corp. selected Bank of America Merchant Services to process transactions at its 2,400 stores nationwide and on its Web site. BAMS processes under an agreement with First Data Corp., now part of Fiserv Inc., though the companies announced July 30 the collaboration will end next year.The 7-Eleven Inc. convenience-store chain has launched in …

Apple Inc. made its upcoming Apple Card available to the public on a limited basis. The full rollout of the card—which was unveiled in March, is issued by Goldman Sachs Group Inc., and runs on the Mastercard network—is expected later in the month.Automated clearing house network administrator Nacha said it is “committed to working cooperatively …

First Data Corp. and Fiserv Inc. expect to close Monday on Fiserv’s $22-billion acquisition of First Data. The deal, announced in January, has received final required regulatory approvals and non-objections, First Data said. First Data announced $2.49 billion in revenue for the second quarter, up 2% year-over-year.A group of Congressional Democrats, including presidential …

Fraud-control executives and researchers predicted card-not-present fraud would boom when the U.S. converted to EMV chip cards a few years ago, and, sure enough, it did. But if the experiences of other countries that adopted EMV before the U.S. are any guide, Americans can take relief in that CNP fraud …

Will the U.S. payments industry reach its goal of ubiquitous real-time payment capability by 2020? In part, the answer may depend on how “ubiquitous” is defined. When the Federal Reserve’s Faster Payments Task Force wrapped up its work in July 2017, it set what seemed to be a challenging but …

For banks, introducing real-time bill pay is not enough. They must also spruce up the online and mobile experience. Some are starting to, but can they finally leave the biller-direct model in the dust? It’s been a long, steady retreat for banks in online bill payment. Since 2010, banks’ share …

This month, we are featuring two stories about the progress of faster payments. Our cover story, “The Bill-Pay Revolution,” shows how real-time capability is finally asserting itself in a crucial segment of the payments business. Then you’ll find “2020 Vision,” our take on just what’s going on with that Fed-inspired …

In a move to expand its tokenization services, Visa Inc. announced Tuesday that it has a deal to buy the token and smart-ticketing businesses of Rambus Inc., a Silicon Valley chip and software provider. The purchase price is $75 million in cash, according to a regulatory filing from Sunnyvale, Calif.-based …

Payments provider Electronic Merchant Systems announced its affiliation with the National Football League’s Cleveland Browns Proud Partner program. Paysafe Group said Philip McHugh will become its chief executive beginning June 24. He replaces Joel Leonoff, who will become vice chairman of the Paysafe board of directors. McHugh comes to Paysafe …

Amazon, Apple, and Microsoft each briefly enjoyed a market capitalization greater than $1 trillion. The two dominant global payment networks, Mastercard and Visa, aspire to join this august, and for the moment, memberless club. In the near term, the networks could grow on autopilot. However, inevitably diminishing retail-payments growth in …