Credit Cards

The U.S. Department of Transportation is looking into airline rewards programs with an eye on protecting consumers from potential unfair, deceptive, or anticompetitive practices, the department says. Many consumers use cobranded airline credit cards to earn points in these programs, though the DOT’s focus is on rewards, not on card-issuing …

Mastercard Inc. launched its Payment Passkey Service with payments processors and consumers in India, and says it will introduce the technology in other markets globally in coming months. The technology, aimed at online transactions, tokenizes payment credentials and enables biometric authentication of cardholders. Canada-based online travel agency justfly.com introduced a pay-by-bank feature, allowing travelers to …

Paze, the online checkout service from Early Warning Services LLC, says consumers that belong to the Sephora loyalty program can now use it to pay for transactions on the retailer’s Web site. Backed by some of the nation’s largest banks, Paze is an expedited checkout service that includes addresses and …

Onfleet, a delivery management software platform, said its new partnership with Shopify Inc., an e-commerce and point-of-sale platform, integrated Shopify online orders with Onfleet’s platform. Rentvine, a software platform for rent payments and other property-management functions, raised $74 million in growth capital from Mainsail Partners. Businesses in the Asia-Pacific region are adopting …

Processor Jack Henry & Associates Inc. reported June-quarter revenue of $559.9 million, up 4.7% from the same quarter last year. Revenue for the 12-month period came to $2.22 billion, up 6.6%. Net income for the quarter totaled $101 million, a 3.4% increase; for the year ended June 30, $381.8 million, up 4.1%. …

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 …

Cashback has replaced miles and rewards as the top credit card perk consumers want, according to J.D. Power’s 2024 U.S. Credit Card Satisfaction Study. The trend is being driven by inflationary pressures that have hiked credit card interest rates and annual fees. As a result, consumers are gravitating to cards …

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 …