Tuesday , January 16, 2018

Pricing

A Sluggish Uptake for Mobile Payments Opens a Door for Tech-Oriented Payment Cards

When major technology companies started launching mobile-payments services a few years ago, many observers figured digitized and tokenized card credentials would soon replace old-fashioned plastic. But now, the chronically sluggish adoption and usage rates these mobile wallets have registered is lending new life to plastic cards. The twist is that …

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Eye on Banks: Chase’s Merchant Volume Hit $1.2 Trillion in 2017; Debit Purchases Rise 6% at Wells

JPMorgan Chase & Co., the largest U.S. bank by assets and the biggest bank that runs its own merchant-acquiring operation, reported Friday that it processed $1.19 trillion in payment volume from merchants last year, up 12% from $1.06 trillion in 2016. Chase’s merchant volume rose 13% in 2017’s fourth quarter …

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Programming Flaws, Volatility, And Sky-High Fees Bedevil Bitcoin Acceptance

While most payments executives have been fascinated by the spectacular year-long rise—and recent crash—in the value of Bitcoin, merchants that accept the cryptocurrency continue to struggle with a wide range of vexing issues. Overstock.com, one of the first merchants to accept Bitcoin, this week had to fix a programming flaw …

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Appellate Court Sides With Merchants Challenging California’s Credit Card Surcharge Ban

A group of California small businesses won a victory Wednesday when a three-judge panel of a federal appellate court upheld their challenge to California’s ban on credit card surcharges, but a key aspect of the ruling applies only to the merchants who sued the state. Still, the ruling represents at …

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In the Wake of Bitcoin Mania, Transaction Fees Surge for a Trio of Major Cryptocurrencies

Bitcoin’s high-flying value has lost some altitude lately, but the cost to perform a transaction is reaching record highs. At the same time, other major cryptocurrencies have also become increasingly expensive not only to buy but to use as a means of exchange. The average fee to perform a Bitcoin …

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As Bitcoin Struggles With Congestion, BitPay Looks To Add More Crypto Choices

With Bitcoin priced near $18,000 Friday morning, and with futures markets already trading Bitcoin contracts or getting set to, investors in the digital currency are riding high. Consumers who want to use Bitcoin to buy things, though, face a market rife with volatility, slow transactions, and high costs. Bitcoin exchanges …

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Discover Could Be a Big Winner If Users And Merchants Embrace Apple Pay Cash for Purchases

Discover Financial Services could find itself in the catbird’s seat if Apple Inc.’s new Apple Pay Cash person-to-person payment service gains popularity as a way to pay merchants. In addition to its main P2P function, Apple Pay Cash is accepted at any merchant location that accepts Apple’s 3-year-old Apple Pay …

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Square Expands Its Bitcoin Beta to More Cash App Users While Bitcoin Pierces the $13K Level

Square Inc. late Tuesday said it is expanding its Bitcoin pilot as the cryptocurrency continues to climb, briefly breaching the $13,000 level early Wednesday. The pilot, which Square launched four weeks ago for what it said was a “small” number of Square Cash users, is now being made available to …

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With the Launch of Apple Pay Cash, Apple Stakes Its Claim in a Crowded P2P Business

Apple Inc. on Monday officially entered an increasingly crowded arena of players looking to carve out a share of the market for person-to-person payments. Apple Pay Cash, which the Cupertino, Calif.-based tech giant first announced six months ago, went live following the release of iOS 11.2, Apple’s latest operating-system update …

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With a Green Light From the CFTC, Three Trading Houses Get Set for Bitcoin Futures

CME Group Inc. said on Friday it will launch a futures contract for Bitcoin on Dec. 18, a move some expect will lend considerable stability to the market for the 8-year-old digital currency. Also on Friday, Chicago-based CME’s crosstown rival, Cboe Global Markets Inc., said it will announce “shortly” an …

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