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- A processing failure has interfered with direct deposit of payroll for an undetermined number of businesses using Intuit Inc.’s QuickBooks payroll service. In response to numerous posts on Twitter about the incident, Intuit posted a link to the following notice: “Some payroll customers are reporting they have not received their direct deposit payments scheduled for Friday (April 30, 2021). We are actively working to determine what’s happening and will provide updates as soon as we have them.” An Intuit spokesperson did not immediately respond to a request for comment.
- The North Dakota Retail Association and the North Dakota Petroleum Marketers Association filed a lawsuit in U.S. District Court against the Federal Reserve Board seeking to compel the Fed to reduce its cap on fees banks charge merchants on debit card transactions. The Fed imposed the limit under the Durbin Amendment to the 2010 Dodd-Frank Act. The associations allege banks’ debit-transaction costs have fallen over the past 11 years, while the Fed has failed to reduce the cap, which applies to financial institutions with $10 billion or more in assets. Banks over that threshold cannot charge fees exceeding 21 cents per transaction, with a penny allowed for fraud prevention and 0.05% provided for fraud losses. The Fed did not return a call seeking comment.
- Online grocery delivery platform Instacart has added three grocery chains to its EBT SNAP payment integration program, including Publix, The Save Mart Cos., and Price Chopper/Market 32, adding more than 1,500 stores across 15 states for delivery as well as pickup.
- Passport Technology Inc., a payment provider to the gaming industry, launched its cloud-based debit processing platform. The platform uses the VirtuCrypt hardware security module from Futurex.
- Processor Evertec Inc. announced Diego Viglianco was named chief operating officer and Philip Steurer was named chief strategy officer. Viglianco had been chief executive of Interbanking S.A. Steurer had been Evertec’s chief operating officer.
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