Acquiring

FedNow, the nation’s second real-time payments network set to debut in late July, says 41 financial institutions, 15 service providers, and the U.S. Department of the Treasury will be ready to send and receive transactions. All 57 have completed certification and testing for FedNow. The Federal Reserve said in 2019 …

Visa Inc. said Wednesday it has struck a definitive agreement to acquire Brazilian financial and payments processor Pismo Soluções Tecnologicas Ltda. for $1 billion in cash. The deal strengthens Visa’s presence in fast-growing Latin America and gives it access to technological services that can be taken abroad. Founded only in …

As the payments industry waits a few more weeks for the expected July launch of the Federal Reserve’s FedNow real-time payments platform, the backer of a real-time payments service that is entering its sixth year readies for more business. Operated by The Clearing House Payments Co. LLC, the Real Time …

Mastercard Inc., working with Subaio, which offers a subscription management service for banks, launched a subscription control service to make it easier for consumers to identify and unsubscribe from recurring payments via banks’ apps and online access. The move comes after the Federal Trade Commission proposed a rule that would require sellers …

Fulfilling a promise it made seven months ago, Block Inc.’s Square merchant-acquiring unit on Wednesday announced it will offer an American Express-branded credit card to its sellers that gives rewards in the form of lower processing costs. Square also announced several enhancements to its financial services to get more of …

PayPal Holdings Inc. is adding tap to pay on mobile phones to its U.S. Venmo users with business profiles. The Tap to Pay on Android technology enables merchants that accept Venmo payments to do so using conventional Android smart phones without having to attach a special payment dongle. The service …

DoorDash announced a number of new features for its food-delivery app, including the ability to create multiple carts simultaneously and the addition of online payments funded by SNAP/EBT benefits. Alphabet Inc.’s mobile-payments app, Google Wallet, will reportedly begin supporting QR codes to trigger payments, starting in Brazil. The wallet has up to …

The Consumer Financial Protection Bureau said Tuesday it has fined payments provider ACI Worldwide Inc. $25 million for erroneously debiting from nearly 500,000 homeowners a total of $2.3 billion in mortgage payments through the automated clearing house network in 2021. The agency’s order also said ACI must “stop its unlawful …

The explosive potential that lies in recent advances in artificial intelligence is beginning to be felt in the payments business as banks and fintechs search for ways to wring intelligible trends and operational improvements out of enormous masses of data. The nascent trend toward AI in payments was underscored by …

Travel companies experienced a 71% growth in chargebacks in the past few years, according to the “Tackling the Travel Chargeback Challenge” report from Outpayce from Amadeus, a global travel company. The survey canvassed 46 airline and travel agent executives in the second quarter. The Accredited Standards Committee X9 Inc. started an industry forum …