Credit Cards

Payments-software developer BHMI said it has updated its Concourse Financial Services Suite to allow firms to comply with the Illinois Interchange Fee Prohibition Act, which is set to take effect July 1. The law prohibits interchange on state and local taxes and on tips. Galileo Financial Technologies launched Galileo Payment Method Switch, technology …

Zoho Corp., an Indian multinational software company, is launching Zoho Payments in the United States. Zoho Payments is an embedded-payments solution that enables businesses to collect one-time and recurring payments from customers, online and within Zoho apps.  Billed by Zoho as an out-of-the box payment solution, Zoho Payments supports the …

Affirm Inc. announced deals for its buy now, pay later service to be available at Mattress Firm and at Costco Wholesale. Mattress Firm says it is the largest mattress retailer in the U.S. market, with more than 2,200 locations. India-based Zoho Corp. entered the U.S. market with the launch of Zoho Payments, which supports cards …

First-party fraud, also known as “friendly fraud,” accounted for 36% of all fraud globally in 2024, up from 15% the previous year, says LexisNexis Risk Solutions’ Cybercrime report. First-party fraud occurs when a consumer disputes a legitimate credit card transaction, claims he never received the order, or misrepresents personal information …

Arborgold, a software provider for landscapers, launched Arborgold Payments, allowing users to process credit, debit, and automated clearing house payments within the Arborgold software. Tillo, a gift card and rewards platform, announced it has received an investment from Tenzing, a technology investor. The sum of the investment was not disclosed. …

Plaintiffs in the lawsuit challenging the Illinois Interchange Fee Prohibition Act are pushing hard to make their case that national banking laws pre-empt the IFPA, which is scheduled to go into effect July 1. In a motion filed late Wednesday, the plaintiffs argued that federal banking laws supersede the Illinois …

Recurly Inc., a subscription-management and recurring-billing platform, announced early Wednesday the acquisitions of digital customer-engagement platform Redfast Inc. and of Prive, said to be a Shopify-first subscription platform. Terms were not disclosed. The rationale for the deals is that they will enhance Recurly’s ability to “manage the full subscriber lifecycle” …

The Consumer Financial Protection Bureau may revisit its new open banking rule, according to a report on Bloomberg Law, which indicated the review likely comes as banks ask about the potential liability for data breaches and being able to charge for access to their data. Bloomberg said it’s uncertain if the existing rule …

ServiceMonster, whose software serves carpet- and window-cleaning providers, launched ServiceMonster Payments, a platform allowing service providers to process payments within the ServiceMonster desktop or mobile app. Payment finance platform Infini has launched its Global Card, a virtual card that offers yields on stablecoin balances and spending through such wallets as Apple Pay, …

The payments industry may soon be wrestling with the fallout from the upcoming $35-billion merger of Capital One Financial Corp. and Discover Financial Services, and one key question emerging from the deal is how it will affect Mastercard, the network for Cap One’s credit and debit cards. Early on Thursday, …