Competitive Strategies

The Federal Reserve announced its FedNow real-time payments network this summer will raise its transaction limit to $1 million from $500,000. FedNow was launched in 2023. Kasheesh Inc. launched a loyalty program called Kasheesh Rewards, aimed at letting users earn rewards based on spending. Kasheesh’s platform allows users to split transactions across credit, debit, and …

Rumors about an acquisition of Paysafe Ltd. have swirled around the company for nearly a month, and the processor’s top management early Tuesday were in no hurry to add fuel to the speculation. “We’re going to stick to no real comment,” said chief executive Bruce Lowthers while addressing an equity …

Compliance services provider LegitScript released a suite of services to help with merchant risk management. Among them is its Xray AI Risk Intelligence platform that can help with scanning merchant Web sites for card network violations, automatically detecting merchant category codes, and matching merchants against LegitScript’s risk intelligence database. Visa Inc. is working …

Zip Co. Ltd. has partnered with GameStop to become the e-commerce retailer’s primary buy now, pay later provider for online and in-store customers in the United States. The deal provides Zip with a ready-made customer base, as about 84% of Zip users in the U.S. shop on GameStop for gaming …

A 3-year-old technology enabling merchants to accept contactless payments using a regular smart phone with no special hardware has bloomed with a global year-over-year growth rate of 200%. That rate is even higher in the United States, United Kingdom, and Brazil, the three countries with the highest adoption rates, Visa …

Fiserv Inc. said it has closed on its previously announced acquisition of Payfare Inc., a Toronto-based earned-wage access firm, for approximately $193 million Canadian, or $133 million U.S. Health-care payments provider RevSpring Inc. launched Let’s Talk, a virtual agent created via artificial intelligence to handle inbound calls from patients, including answering questions and …

Flexa Inc., a digital-payments provider, has introduced tap-to-pay for cryptocurrency transactions. The contactless-payment method enhances digital-asset usability by enabling blockchain payments via NFC-enabled hardware wallets without a mobile phone or internet connection, the company says. Hardware wallets, known also as burner wallets, are physical devices that store private keys for …

The evolution of point-of-sale devices and technology is unwavering, and the latest development is from Ingenico with its new Axium CX9000, an electronic cash register. Additionally, MagTek Inc. and Genesys Technologies have launched a POS reader for unattended payments. Ingenico’s Axium CX9000 has two screens, a 1.56-inch one for the …

The Consumer Financial Protection Bureau has canceled five enforcement moves, including an action against Capital One, Reuters and other news sources reported early Friday. The news came as the nominee to head the bureau, Jonathan McKernan, was testifying Thursday before the Senate in a confirmation hearing. Treasury Secretary Scott Bessent has been …

Generation Y and Generation Z are the biggest users of buy now, pay later, according to J.D. Power’s annual BNPL satisfaction study. Some 42% of both generations use BNPL products, compared to 21% of consumers from other generations, the study says. Both generations tend to favor BNPL over credit cards …