Open banking, the system enabling seamless sharing of financial data via application programming interfaces between banks and third-party service providers, has captured global attention over the past several years. In 2018, the Second Payment Services Directive (PSD2) marked the official open-banking era by mandating data sharing in Europe. This milestone paved …

As proponents and adversaries wrangle over the newly resurrected Credit Card Competition Act, a market-research firm has raised by more than one-third its estimate of how much the bill could save U.S. merchants. A year ago, the firm, Atlanta-based CMS Payments Intelligence Inc., calculated the bill would result in $11 …

Toast Inc., provider of popular payment and business-management systems for restaurants, is testing a 99-cent fee for online orders of $10 and above that the company could roll out nationwide next month. The test is generating criticism from restaurateurs on social media and debate in the merchant-acquiring industry about pricing …

As proponents and adversaries wrangle over the newly resurrected Credit Card Competition Act, a market-research firm has raised by more than one-third its estimate of how much the bill could save U.S. merchants. A year ago, the firm, Atlanta-based CMS Payments Intelligence Inc., calculated the bill would result in $11 …

The Credit Card Competition Act is making a comeback, this time with more bipartisan support. The bill, originally launched last summer by Sens. Richard Durbin (D-Ill.) and Roger Marshall (R-Kan,), is expected to be reintroduced in the Senate, apparently with few changes, as early as this week, according to an …

There are still plenty of cash-heavy merchant markets that are looking to launch—and expand—digital payments. As deeply embedded as digital payment are at the point of sale, there are still merchant segments that are heavy on cash and light on digital-payment technology. These markets—including vending machines, micro-markets, and laundromats—are beckoning …

Real-time payments can bring much more flexibility—and potential profit—to businesses of all sizes. Following Covid’s chaos, that’s good news. Supply-chain chaos has forced many companies to adopt new strategies to keep goods moving and meet demands for fast funds. The financial-services industry is no exception to the growing demand for …

BNPL provider Affirm Holdings Inc. has struck a multi-year partnership with payment processor Worldpay to make its Adaptive Checkout solution available to Worldpay merchants. The deal will enable Worldpay merchants to offer consumers bi-weekly and monthly payment options. Worldpay is a unit of the big processor FIS Inc. The deal, …

Mid-size payments processors have contended with a pandemic, a sharply rising cost of funds, and pronounced inflation over the past few years, but that hasn’t stopped them from capturing volume, particularly from the small and medium-size merchants that have long been their specialty. In results reported early Thursday, Alpharetta, Ga.-based …

National Retail Solutions Inc., a provider of point-of-sale technology to independent retailers, reported same-store sales in April among retailers in its network grew 6.5% compared to the same period a year earlier. The increase was a significant jump from the 0.1% increase in same-store sales in March, compared to a …