A class of card issuers is suing Apple Inc., alleging they pay $1 billion in fees annually for inclusion in the technology company’s Apple Pay mobile wallet, while Apple maintains a monopoly on contactless payments at the point of sale for iOS devices. Filed in the U.S. District Court for the …

Fresh off the introduction of its buy now, pay later product, the big private-label and cobranded credit card issuer Synchrony Financial on Monday reported that strong consumer spending in the second quarter boosted its purchase volumes and interchange income. Stamford, Conn.-based Synchrony said total purchase volume hit $47.2 billion for …

Mastercard Inc. said it is expanding its Engage partner network to include open-banking firms. The first companies to join include Dwolla, FinTech Automation, i2c, Link Financial Technology, LoanPro, Nova Credit, Provenir, Synctera, Tern, and Usio Inc.Buy now, pay later processor Afterpay will offer installment payments for customers of beauty retailer Sephora. Afterpay, a …

Blackhawk Network Inc. is partnering with buy now, pay later provider Klarna AB to let consumers use Klarna’s interest-free payment solutions at physical retail locations. The deal, announced Wednesday, will enable consumers to make use of Klarna in-store for such items as groceries, electronics beauty, and more when shopping within …

Consumers’ loss of funds to fraud and other deceptive activity on peer-to-peer payment networks has drawn the attention of U.S. Senators, who are demanding answers on the matter from the big banks that own the Zelle P2P network. The senators’ actions come as P2P activity has boomed in response to …

In-store sales growth continued to outpace that of online shopping in June, though e-commerce sales may get a big boost next week. According to the Mastercard Inc. SpendingPulse report, in-store sales increased 11.7% last month over June 2021, and were up 10.7% from June 2019. And, while e-commerce sales experienced …

Sionic Mobile Corp., a provider of omni-commerce, consumer-to-business payments technology, has introduced online and mobile widgets that enable non-profit organizations to accept real-time, bank-to-bank donations. Donors can use the apps, dubbed Pay-by-Bank, to initiate one-time or recurring donations direct from their bank account. Two key benefits of account-to-account donations is …

Adyen NV has been selected to process payments for Fast Retailing, operator of the Uniqlo platform of clothing stores and sites.Authentic Brands Group, which includes Eddie Bauer and Forever 21, settled a lawsuit against commerce platform Bolt. The two companies will continue to work together.The peer-to-peer payments platform Paxful Inc. has selected iProov, a provider …

Bitcoin and other cryptocurrencies have had a rough time in 2022, but a trend toward mainstream adoption is gaining momentum. Equities across the board, including Bitcoin, are massively down from their 2021 highs. Tech stocks, bonds, commodities—nothing seems safe from the current sentiment. But what does that mean for the …

After two years of stupendous growth, e-commerce is slowing. But is that the whole story? The numbers don’t lie, but they don’t tell the whole story, either, about what’s changing for U.S. e-commerce sales. Consider this. E-commerce sales as a fraction of total retail sales came to 10.2% in the …