Debit Cards

RDE Inc., owner of Restaurant.com, a popular dining-deals site, has closed on its acquisition of CardCash Exchange LLC, operator of CardCash.com, a secondary gift card marketplace. The deal advances RDE’s presence in gift cards for consumers and merchants. The combined business accounted for more than $100 million in revenue in …

Citing a payments industry that is united in its opposition to the Credit Card Competition Act, research from the Congressional Research Service questioning the benefits of the legislation, and suspect support for the bill among members of Congress, the Electronic Payments Coalition says it is primed to continue its fight …

An Illinois merchant has filed suit against Apple Inc., Mastercard Inc., and Visa Inc., alleging their efforts to develop Apple Pay prevented competition. Filed last week by Mirage Wine + Spirits in the U.S. District Court for the Southern District of Illinois, the suit specifically claims the agreements among the …

Tokenized credentials are supposed to stop fraud by masking card account numbers when a transaction is processed, but according to Visa Inc. global losses owing to illegitimate tokens totaled $450 million last year. That’s bad enough to prompt the network to announce early Wednesday it is launching Visa Provisioning Intelligence, …

Discover Financial Services said its board of directors has appointed Michael G. Rhodes chief executive and president. Rhodes, who will take office on or before March 6, succeeds interim CEO and president John Owen, who will continue as a Discover board member. Rhodes comes to Discover from TD Bank, where he was …

Holiday sales were robust in November, giving merchants reason to be optimistic about overall spending for the holiday shopping season, according to the National Retail Federation. Total retail sales in November, excluding automobiles and gasoline, rose 0.77% month-over-month on a seasonally adjusted basis, and 4.24% on an unadjusted basis year-over-year,  …

Paze, the upcoming digital wallet backed by banks, has lined up an integration with Endava plc, a software-development firm. Announced Wednesday, the integration, which will be available when Paze launches in 2024, means merchants that use Endava can offer the Paze online checkout. London-based Endava says the simplified checkout will …

Payments provider Usio Inc. says benefits administrator Genius Avenue will use multiple Usio payments products, including automated clearing house transfers and a prepaid card program, to serve its customers. Announced Monday, the partnership integrates Usio’s payments services with the Genius Avenue platform. Tucson, Ariz.-based Genius Avenue is keen to tap …

Online shoppers spent a record $12.4 billion on Cyber Monday, a 9.6% increase from the previous year, according to Adobe Digital Insights. The peak spending period came between 10 p.m. and 11 p.m. Eastern Time, when consumers spent $15.7 million every minute during that hour. Buy now, pay later was …

Square and Afterpay merchants counted 70 million transactions over the Black Friday-Cyber Monday holiday weekend, up 14% from the same period in 2022, Square said. In-person shopping increased 15% year-over-year. Amendments under consideration by Australia’s national government would impose on digital wallets like Apple Pay and Google Pay the same regulations as those enacted …