Sunday , March 7, 2021

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‘We’re Building the Plane While We’re Flying It,’ Says Green Dot’s Boss About Soaring Go2Bank

Green Dot Corp.’s big bet on the underbanked has gotten off to a flying start, to hear the company’s top executives tell it. The bet is on Go2Bank, a mobile bank account that offers credit and debit cards, direct deposit, and a savings account. “It’s been great to see the …

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Visa Will Waive Fees for Authorize.Net on Super Bowl Sunday, Launches VisaNet+AI

Visa Inc. is leveraging its sponsorship of the National Football League with a new one-day promotion geared to attract small businesses to its Authorize.Net payment gateway on Super Bowl Sunday, Feb. 7. Visa announced Tuesday that it will waive Authorize.Net’s monthly gateway fee for the life of an account, along …

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In Covid’s Wake, Consumers—And Now Businesses—Are Lining up for P2P Payments

Much attention in the payments industry has focused on how the coronavirus pandemic has boosted contactless technology in stores, but it’s also leading more consumers and now businesses to adopt peer-to-peer payments networks, as well. After initial success with consumers, banks are starting to adapt P2P systems especially for small …

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A Planned Pilot for FedNow Spurs More Than 110 Banks And Processors to Sign up

The Federal Reserve reported late Monday it has received more than 110 expressions of interest from financial institutions and processors for a real-time payments pilot program slated to start later this quarter. That number exceeds the 80 entities the Fed expected to participate in the pilot for the FedNow service, …

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As Digital Payments Heat Up, Fiserv Agrees to Acquire Card-Control Technology Provider Ondot

Fiserv Inc. announced Wednesday an agreement to acquire, for an undisclosed sum, Ondot Systems Inc., whose technology includes so-called card controls, or tools that allow cardholders to switch usage on or off according to considerations of security or preferred usage. The deal is expected to close in the first quarter …

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With an Assist From Visa, MagicCube Looks for Rapid Expansion in the U.S. And Abroad

The Covid-19 pandemic is driving consumers and merchants to opt for contactless options, and now software that can enable an ordinary smart phone to accept cards via near-field communication is moving faster toward the point of sale. Visa Inc. on Wednesday granted a so-called security compliance allowance to MagicCube Inc.’s …

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Lightspeed Arms Itself for Heavy-Duty Competition With Its Acquisition of ShopKeep

Lightspeed POS Inc. on Thursday acquired ShopKeep Inc., a payments and commerce provider, for $440 million in cash and stock. Under the terms of the deal, Lightspeed will pay $145.2 million in cash and issue 9.5 million subordinate voting shares. The deal is expected to close by Dec. 31. RBC …

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Buoyed by Merchant Acceptance, Fiserv Comes Close to Returning to Pre-Covid Levels

Led by its merchant-acquiring unit, Fiserv Inc. in the quarter ended Sept. 30 continued its rebound from the wallop it took from Covid-19. The Brookfield, Wis.-based company reported total revenue, adjusted for its First Data Corp. acquisition in July 2019, of $3.59 billion for the quarter, down a slight 1% …

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Contactless Is Gaining Favor Fast Among Consumers And Merchants, AmEx Data Show

Consumer demand is so strong that 81% of merchants surveyed by American Express Co. intend to make contactless payments a permanent option at the point of sale. Some 70% of merchants say their customers have asked for contactless payments, J.J. Kieley, vice president of the AmEx Payments Consulting Group, tells Digital …

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Visa Leverages Artificial Intelligence for Smarter Stand-in Processing

Refused transactions are frustrating enough for cardholders and merchants, but during a pandemic they could be especially nerve-wracking. Visa Inc. on Wednesday announced a new service for stand-in processing that the payments network says should yield faster and more accurate results when issuers’ systems are down. The new Smarter STIP …

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