Competitive Strategies

Payment processor and core banking provider FIS Inc. posted first quarter revenue of $3.51 billion, a 0.6% increase from $3.49 billion in the same quarter in 2022. Its net income of $141 million was 17.5% greater than the $120 million profit a year ago. FIS’s merchant solutions segment had revenue of $1.1 …

Citing increased demand for low-cost account-to-account payment solutions, digital-payments fintech Dwolla Inc. announced it grew its partner ecosystem 45% during the first quarter of 2023, bringing the total number of partners to 40. Among the companies to partner with Des Moines, Iowa-based Dwolla is financial data aggregator Flinks, a Montreal-based …

The official launch of FedNow as a commercial service is set for July, but already the nation’s banking regulator, along with observers, have seen a pattern in where initial participants have been using the real-time payments service. “We’re starting to see more activity around business-to-consumer [payments], related to payroll front …

Visa Inc.’s U.S. debit card payments volume of $767 billion in its fiscal second quarter increased 9.6% from $699 billion in the quarter ending March 31 a year ago. Its U.S. credit card payments volume of $704 billion was a 10.5% increase from $638 billion a year ago. For all regions, Visa’s …

White-label buy now, pay later provider Splitit Payments Ltd., introduced on Tuesday SplititExpress, a checkout experience that enables consumers to complete checkout in less than two seconds, compared to one-to-two minutes for other BNPL applications, Splitit says. The new feature also supports installment payments via Google Pay and Apple Pay. …

Giant processor Fiserv Inc. said its revenue from its merchant business increased to $1.85 billion in the first quarter, a 12.1% increase from $1.65 billion a year ago. Brookfield, Wis.-based Fiserv said its two other segments—financial technology and payments and networks—also had revenue increases. Revenue for the financial technology business …

Payments-technology provider Ingenico launched its AXIUM Payment Experience, dubbed APEX, an app intended to make it easier for businesses to craft payments apps. U.S. payments provider InComm Payments introduced a new unit, InComm Payments Brazil Technology Ltda., to expand the company’s operations in Brazil. Embedded-finance specialist Maast launched a set of new technologies aimed at making …

The momentum behind tap to pay technology on smart phones shows no signs of slowing down. MagicCube Inc., which has traditionally focused on providing contactless payment technology to small merchants through off-the-shelf mobile devices, has expanded its reach to small and mid-sized merchants through a partnership with ACI Worldwide Inc. …

Payments provider Priority Technology Holdings Inc. said it is launching MX POS, a point-of-sale platform offering cloud accessibility with analytics and data reporting. Chargebacks911, a platform for chargeback management, advised merchants to streamline subscription-cancellation processes in response to a proposal from the Federal Trade Commission to require merchants to make it as easy to …

Payroc LLC has partnered with wireless-network platform provider Bleu to launch tap-to-phone payments for Android and iOS devices in the United States. Merchants will be able to accept payments using a smart phone or tablet device. The rollout of tap-to-phone technology is expected to help merchants meet consumers’ evolving expectations …