The Federal Reserve, which is taking industry comments on its upcoming FedNow real-time payments network until Nov. 7, said common questions so far involve pricing and the scope of the service. The first question can’t be answered yet, and the second touches on services that will be designed by financial institutions building on top …

JPMorgan Chase plans to discontinue its Chase Pay mobile wallet. Other banks are shuttering their wallet apps, too. Is there no longer—or was there ever—a place for bank-sponsored wallets for mobile payments? Apple Pay, Google Pay, and Samsung Pay, collectively “the Pays,” seem to get all the attention when the …

Historically, ACH processing hasn’t been a big item on most merchants’ wish lists. That could change soon as efforts to make it more merchant-friendly intensify. With all the discussion of faster payments and real-time payments, often synonymous but not always, one payments network continues to attract merchants. The automated clearing …

American Express Co. posted an online guide for consumers about contactless cards. Beginning in July of 2019, all newly issued AmEx consumer and small-business cards are contactless-enabled, and starting next month all newly issued corporate cards will be contactless-enabled.P97 Networks, a provider of mobile payments and rewards programs for petroleum retailers, …

The Federal Trade Commission announced settlements with the two principals of Apex Capital Group, an Internet marketer of dietary supplements and personal-care products the FTC accused of using deceptive free-trial offers and negative-option billing in the U.S. and United Kingdom. The defendants must surrender assets valued at $3 million or more and are barred …

A survey by processor Fidelity National Information Services Inc. (FIS) found that 54 countries now have active real-time payment programs, up from 40 in 2018 and nearly four times as many as 2014.Cross River Bank, which specializes in services for technology companies, has applied to link to The Clearing House Payments Co.’s Real Time …

Leading online retailer Amazon.com Inc. is bringing its Amazon PayCode service to the United States in a deal with The Western Union Co. that gives consumers the option to pay for Amazon purchases in cash. Seattle-based Amazon announced Wednesday that PayCode, which is already live in 19 countries, will be …

Global Payments Inc. completed its $21.5 billion all-stock merger with payment processor Total System Services Inc. (TSYS). The deal cleared its last major hurdle when European Union antitrust regulators said they had no competition concerns, Reuters reported Tuesday. The merged company serves 3.5 million merchant locations and 1,300 financial institutions in more than 100 …

Mastercard Inc. said it will act as the clearing and settlement network for a cross-border payments service the company has agreed to develop with R3, a blockchain-software vendor.Some 74% of online transactions globally are for digital goods and services, with ride-share service and restaurant delivery ranking as the first and second most used …

U.S. merchants added 600,000 locations for EMV chip card acceptance in 2019’s first six months, and Visa issuers cranked out an additional 10 million EMV payment cards, according to new figures from Visa Inc. In its latest update on the U.S. conversion from magnetic-stripe payment cards to the EMV chip …