Payments provider Priority Technology Holdings Inc. announced it has agreed to acquire Finxera Holdings Inc., a provider of banking-as-a-service technology. Terms were not announced for the transaction, which is expected to close in the third quarter.Mastercard Inc. said it is expanding its Engage platform to digital first deployment, assistance and training through the …
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Customer experiences and expectations are rapidly evolving as people and businesses seek out slicker financial apps and services that are embedded deeper into our software applications. This explosion of new experiences is largely enabled through application programming interfaces (APIs). Seeing a new opportunity here, many financial institutions are investing in …
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The warehouse-store chain BJ’s Wholesale Club said it has added electronic benefits transfer payment capability to its Web site for in-store or curbside pickup of SNAP-eligible items. The service applies to stores in Florida and North Carolina. The processor is FIS Inc.’s Worldpay. SNAP is the federal Supplemental Nutrition and Assistance Program.Independent …
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Payments provider The OLB Group Inc. said its SecurePay gateway can now support cryptocurrency transactions and settlement of funds for merchants, putting crypto on par with credit and debit payments.PayActiv Inc., a provider of earned-wage access technology, said Hancock Whitney is the first financial institution to offer the company’s service.In related news, …
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The fast-growing buy now, pay later (BNPL) installment-credit option for online and in-store payments could reach $1 trillion in U.S. volume by 2025, or between 10 and 15 times the current level, according to a report released Tuesday by CBInsights, a New York City-based financial-service research firm. A confluence of several …
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With the two big payment networks set to raise by hundreds of millions of dollars the cost U.S. merchants pay for card acceptance, e-commerce merchants could see fee boosts while some segments—like travel-and-entertainment and low-ticket-value, quick-service merchants—could see some reductions. In total, rate tweaks scheduled by Visa Inc. and Mastercard …
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In an effort to move automated clearing house transactions closer to real-time, E-Complish, a New York City-based payment processor, announced Monday it has teamed with data network Plaid Inc., to validate a bank account, and the funds in it, for ACH transactions. The service makes it possible for E-Complish customers …
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CardX LLC, a surcharging-services provider, can now add another state to the list of places where it can do business. A federal judge ruled Thursday surcharging cannot be prohibited in Kansas. The decision leaves just Colorado, Massachusetts, and Connecticut with outright no-surcharge rules on the books. Filed May 29, 2020, …
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Switched transactions dipped 1% for the week ended Feb. 21 for Mastercard Inc. compared to the same week last year, the card network reported. It is the first weekly year-over-year dip in switched transactions for Mastercard so far this year and reflects a swing from 4% growth in the week ended Feb. …
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Peer-to-peer transactions have taken off as a way to pay digitally during the pandemic, and now the biggest bank-owned P2P network is getting a big lift through its integration with the country’s most extensive real-time payments network. Early Warning Services LLC announced early Thursday payments on its fast-growing Zelle P2P payments …
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