Competitive Strategies

Having just launched earlier this month, PayPal Holdings Inc.’s Fastlane checkout has lined up processor and competitor Adyen NV as a partner. Designed to accelerate guest checkout flows, Fastlane is meant to help e-commerce retailers boost their conversion rates. Reducing friction in the guest-checkout process can help boost conversion rates for e-commerce …

When the Federal Reserve’s FedNow real-time payments service debuted commercially 13 months ago, the story mainly focused on the general concept of immediate money transfers. But since then the payments industry has been busy refining that concept and working on service-ready applications. One of the most talked-about of these applications …

Merchants want lower interchange. In their Shangri-la, interchange would be negative, meaning merchants would be paid to accept credit and debit cards. This is not unknown in the real world. For example, Australia’s national debit network for many years had negative interchange. Merchants want to be able to freely surcharge …

Several organizations representing banks and credit unions filed a lawsuit late Thursday challenging Illinois’s Interchange Fee Prohibition Act, which was signed into law June 7. The lawsuit, filed in United States District Court for the Northern District of Illinois, was brought by the Illinois Bankers Association, The American Bankers Association, …

While merchants, like consumers, love credit and debit cards, they don’t like having to pay to accept them. It’s human nature to want to pay less for products and services, no matter how good they are. To reduce payment-acceptance fees, merchants have brought a battery of antitrust lawsuits against Mastercard …

U.S. third-party developers soon will have new capabilities to access the secure element piece of Apple Inc.’s iPhone when iOS 18.1 eventually is released, a move that could herald further app development and cement Apple’s position among mobile-wallet providers. Apple, without fanfare, revealed this long-desired access Thursday in a simple …

FIS Inc. said it will make a peer-to-peer payment service from Neural Payments available to its banking customers. The white-label product enables bank customers to transfer money from their accounts to anyone, regardless of weather the recipient’s financial institution uses Neural Payments and without the need to download a third-party app …

When Bruce Lowthers took over a struggling Paysafe Ltd. two years ago, he immediately plunged into what he noted then was a wide-ranging reclamation project. On Tuesday, he called out some progress but also offered a blunt update on his transformation efforts. “We have the right strategy and our execution …

Payments platform provider Payroc WorldAccess LLC has agreed to work with processor Moneris Solutions Corp. to provide card-present payments in Canada. The partnership with Toronto-based Moneris enables Tinley Park, Ill.-based Payroc to provide independent software vendors and small and medium businesses with a single platform for processing card-present transactions in …

Payments has always been an acquisitive business, as economies of scale loom large for CEOs and CFOs and buying that scale can often look cheaper and quicker than building it over time. But so far, activity in 2024 is mapping to what was seen last year—which is to say, slow. …