Credit Cards

U.S. payments networks continue to cultivate their connections to what is for them a potentially massive market in China. In the latest development, Leshua Technology announced early Friday it will support acquiring for American Express Co.’s joint venture in China.  AmEx last year became the first foreign payments company to win …

Zilch Technology Ltd. is preparing to become the latest entrant in the U.S. buy now, pay later market. The move hinges on the London-based company’s acquisition of San Francisco-based debt-funding platform Neptune Financial & Management Services LLC (NepFin), a deal Zilch announced on Thursday. The terms were not disclosed. The …

The Financial Data Exchange (FDX), a non-profit standards body for providers of open-banking and open-finance applications, announced on Wednesday that the number of consumer accounts using its application programming interface has swelled to 22 million, up from 16 million in April, an increase of more than one million accounts per …

The emergence earlier this year of a virulent new coronavirus variant “threatens to reverse the gains made in the first six months of the year” by the U.S. restaurant industry, according to data released Tuesday by the National Restaurant Association. The news comes as eateries have adopted contactless forms of …

The convenience-store chain Wawa Inc. announced Monday it settled a class-action lawsuit stemming from a data breach in 2019 that was related to malware discovered on its payment-processing servers. The settlement, which is subject to court approval, resolves all customer claims related to the data breach. The malware affected customer payment card information …

Visa Inc. and JPMorgan Chase & Co. said they will donate a dime to New York Cares through the month of September, up to a limit of $250,000, for each tap riders perform with a Chase Visa contactless card on subways or buses operated by New York City’s Metropolitan Transportation Authority.VPay, …

Merchant services provider LaCore Payment Technologies said it is now offering Sezzle Inc.’s buy now, pay later service to its merchants. Sezzle is integrated into LaCore’s gateway.Google Pay’s expected revamp may be delayed because of staffing issues, reported tech site ArsTechnica.com. Several Google Pay employees have left amid uncertainty about the transition to the …

Nearly four days after mega-processor Total System Services’ platform went offline, independent sales organizations that use the TSYS platform remain in the dark as to how and why the outage occurred. The outage, which has been described as a nationwide event for TSYS, occurred Saturday night and prevented TSYS, as …

Out of the gloom surrounding the U.S. economy since the onset of Covid-19 comes a report that consumer spending on credit and debit cards is not only robust, but also stronger than it was even two years ago. Dollar volume on payment cards in July was 21% higher than in …

The cost of fraud to merchants has risen since the onset of the Covid-19 pandemic. Each $1 in fraud costs retailers in the United States $3.60 in total expenses, compared to $3.13 pre-pandemic, according to LexisNexis Risk Solutions’ “True Cost of Fraud” study for e-commerce and retail merchants. U.S. e-commerce …