- Merchant processor Paysafe North America said that by mid-July it will start offering same-day settlement to small U.S. merchants. The service will be offered in collaboration with Company.com, a services platform for small businesses, and Ingo Money, a push-payments provider.
- Visa Inc.’s 10-hour service interruption in Europe on June 1 caused 5.2 million transactions to fail to process, according to a letter from the company to a British parliamentary committee investigating the outage. That number represented roughly 10% of the 51.2 million transactions routed to Visa’s European systems during the period. In the United Kingdom alone, some 2.4 million transactions out of a total of 27.6 million failed to process.
- Payments provider TrustCommerce released the TC Safe point-to-point encryption service.
- Payrailz, which offers a digital bill-payment and cross-border transfer platform, has collaborated with bill-negotiation service Billshark to allow financial institutions to offer customers a bill-reduction utility.
- AddPaymentsNow, which connects software vendors with payment facilitators, announced a service aimed at payment acceptance for software providers for companies offering landscaping, housekeeping, pest control, and other home services.
- Order-ahead and loyalty specialist LevelUp said Restaurant Revolution Technologies, which provides restaurant-order technology, will be integrated into LevelUp’s software.
- A survey from ACI Worldwide and Ovum indicates 51% of all merchants, billers, and retail banks will boost their information-technology budgets this year for payments-related projects.
Following through on plans disclosed earlier this year, the Federal Reserve on Tuesday formally unveiled …