Credit Cards

It was only a matter of time before the two big international card networks responded to a recent Federal Reserve requirement that issuers make at least two unrelated networks available to merchants for debit card transactions. Late Tuesday, Visa Inc.’s chief financial officer, Vasant Prabhu, said the impact of the …

Financial-services technology provider Jack Henry & Associates Inc. launched a real-time peer-to-peer payments platform, based on the Digital Payments Platform from the payments-technology firm Payrailz. Jack Henry acquired Payrailz in September for undisclosed terms.Gr4vy, a U.S.-based payments-technology provider, said Australia’s Woolworths Group will use the company’s payments-orchestration platform to run the retailer’s Wpay service. …

Payments provider Adyen NV launched two new services—Capital and Account, offering to small businesses cash advances, business bank accounts, and card-issuing capability.Payment platform GoCardless launched Protect+, an anti-fraud service offering payor authentication, fraud monitoring, and chargeback challenges.Payments-technology provider Payoneer said it has collaborated with e-commerce platform WooCommerce to enable Payoneer Checkout via a plug-in for small …

Fueled by growth in goods and services and travel and entertainment spending, American Express Co. on Friday reported third-quarter revenue of $13.6 billion, a 24% increase from the same period last year. Net income for the quarter totaled $1.9 billion compared to $1.8 billion a year ago. Overall cardholder spending …

The online shopper going by “Michael Smith,” who lives in Houston, may not be a living, breathing consumer, according to new research from Socure, a digital identity verification provider. This consumer, with seemingly valid credentials, may be a synthetic identity meant to defraud merchants. So-called synthetic fraud, already accounting for …

The buy now, pay later trend, which soared into prominence as a consumer-payments option during the Covid pandemic, continues to gain momentum. Certegy Payment Solutions LLC on Monday said it is working with a Tempe, Ariz.-based Ionia and its rewards platform to offer a BNPL service leveraging Certegy’s risk-management technology. …

The United States Court of Appeals for the Fifth Circuit, in a ruling that vacates the Consumer Financial Protection Bureau’s 2017 Payday Lending Rule, contended the CFPB’s funding mechanism is unconstitutional because its funds are not appropriated by Congress.Visa Inc. said it is working with Thunes, a business-to-business payments company, to extend Visa …

Square, the payment-processing unit of San Francisco-based Block Inc., has unveiled two new apps for Square Terminal. The new apps, Square for Retail and Square Appointments, enable merchants to accept payments, returns, exchanges, and inventory inquiries at the counter, on the sales floor, curbside, or by opening another checkout counter …

The Federal Trade Commission has launched a probe into whether security tokens issued by Visa Inc. and Mastercard Inc. interfere with the ability of processors to route debit card transactions to alternative networks, according to The Wall Street Journal. Network choice for debit card transactions is mandated by the Durbin Amendment to the 2011 …

Fintech app Karma launched Pay with Karma, an embedded checkout service that enables for consumers a simplified purchase experience across different retailers with multiple payment options.Ammo Inc., owner of GunBroker.com, an online marketplace for the firearms and shooting-sports industry, said it will launch a proprietary payment-processing platform on or about Jan. 1.Mastercard …