JPMorgan Chase & Co.’s Chase credit card unit and the Marriott International Inc. hotel chain introduced a contactless cobranded card, the Marriott Bonvoy Boundless card, to replace the Marriott Rewards Premier Plus card. American Express Co. announced the rebranding of its current portfolio of cards for customers of Marriott International Inc.’s …
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Target, Taco Bell, And Other Chains Are the Latest to Sign up for Apple Pay
Apple Inc. on Tuesday announced Target Corp., Taco Bell, and two regional chains are the latest merchants to agree to accept Apple Pay in-store, a development that could bolster the mobile-payments service and further smooth the road for contactless payments in the United States. Separately, Target announced it will also …
Read More »Most Merchants—78%—Experience Fewer Chargebacks Under New Visa Rules, Says One Survey
Almost a year after Visa Inc. altered the chargeback-resolution process, merchants are reaping some of the benefit. A survey of 500 Chargeback Gurus merchants found that 78% have fewer chargebacks under the Visa Claims Resolution program. “The first goal was to streamline the dispute process,” Suresh Dakshina, Chargeback Gurus president, …
Read More »Fiserv’s Planned Acquisition of First Data Raises Questions About the Debit Market’s Future
The proposed merger of Fiserv Inc. and mega-processor First Data Corp. has huge implications for many parts of the payments industry. But the deal, if consummated as planned, could have an especially large effect on the U.S. debit card market. First Data owns the Star electronic funds network, while Fiserv …
Read More »With Help From Citcon, North American Merchants Begin Accepting UnionPay QR Codes
With the rise of Chinese tourism, North American merchants have proved eager to accept Chinese mobile wallets like Alipay and WeChat Pay, and now they can add UnionPay cards to that mix. Citcon USA LLC said Monday it will enable merchants in the United States and Canada to accept quick-response …
Read More »Cannabis Payment App Debuts and other Digital Transactions News briefs from 1/9/19
CannaTrac, a cashless-payment service for the cannabis industry, released the CannaCard App, a mobile-payment service that enables users to upload funds from a checking account, debit card, or cash at select partner locations. A 95-cent fee applies to each funds loading. The app, available for Android and iOS devices, is …
Read More »COMMENTARY: Why Cryptocurrencies Are a Solution in Search of a Problem
When you look at the benefits that cryptocurrencies offer, it’s somewhat surprising that they aren’t an established method of payment yet. They are cheaper than other payment methods, they allow fast global money transfer, and they provide built-in security and encryption. However, cryptocurrencies haven’t really taken off and are more …
Read More »The SRC Express
A network-sponsored spec for streamlined digital payments rolls toward implementation later this year, promising cleaner checkouts but also stirring questions about how it will work. Remember all the excitement last spring about a so-called common buy button the major card networks were working on (“The Shared Checkout’s Slow Check-in,” June)? …
Read More »Hitting the Accelerator
Talk about mobile payments. Card companies, automakers, and merchants are readying technology to make cars a payment method as familiar as plastic—and phones. An informal consortium of payments companies, car makers, automotive suppliers, and merchants is trying to make it easier, and safer, for consumers to buy fuel, order meals, …
Read More »Cash Discounts: Surcharges by Any Other Name?
Cash discounts are all the rage as merchants seek to lower payment card acceptance costs. But critics say cash discounts all too often are surcharges in disguise. Few topics last year drew more interest from independent sales organizations and merchant acquirers than cash discounts. Sessions about the pricing strategy were …
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