- Merchant processor Worldpay participated in a funding round for machine-learning startup FeatureSpace and agreed to deploy the company’s technology for fraud prevention. Worldpay, which this summer agreed to be acquired by rival processor Vantiv Inc., did not disclose the amount of its investment.
- Merchant processor Elavon introduced Scoop, a program that lets payment facilitators take complete control of functions like merchant underwriting and funding or outsource them to Elavon.
- Processor Adyen launched MarketPay, a payments service that enables online marketplaces to fully manage the payments experience of their customers. Fundraising platform GoFundMe is among the first to use MarketPay.
- Visa Inc. announced an online store locator intended to help people in hurricane-ravaged areas of the Caribbean find Visa-accepting sellers of food, water, and essential supplies.
- Canada’s TD Bank has agreed to integrate artificial-intelligence technology from Kasisto to allow users of the TD app to check on spending and review transaction histories by means of conversational interaction.
- Snapsheet, a provider of virtual-claims technology for the insurance industry, said it is partnering with KeyBank to digitize payment on claims.
- In a paper published by the Columbia University business school, a trio of authors argue some congestion in Bitcoin’s blockchain is necessary to support transaction fees and sustain the “long-run operation of the system.”
A $6.2 Billion Pact May Be Only a Prelude to Difficult Haggling Ahead for Merchants And the Card Networks
Visa Inc. and Mastercard Inc. announced early Tuesday that they and defendant banks have agreed …