Debit Cards

Instances of card skimming were up in the United States in 2022, with more than 161,000 impacted cards identified, a five-fold increase over 2021, and a more than three-fold increase in the total number of cards compromised, according to FICO (formerly Fair Isaac Co.). In addition, 3,000 unique financial institutions …

Industry opinions are mixed regarding a move by banking trade groups to plead for more time to act on a ruling issued in October by the Federal Reserve. The ruling orders all banks to comply by July 1 with an 11-year-old requirement that merchants have a choice of at least …

Cantaloupe Inc., a specialist in payments technology for vending machines and self-service marketplaces, introduced a marketing push early Wednesday for The 46 Kiosk, a terminal featuring a 46-inch screen aimed at users in wheelchairs and those with vision issues. The device, which Malvern, Pa.-based Cantaloupe says is compliant with the …

Two years after announcing United Kingdom lawmakers would regulate buy now, pay later services, HM Treasury, the British government’s financial arm, has begun its consultation process. As reported in The Guardian, the process will take eight weeks and will outline the rules that BNPL providers will have to follow. Klarna …

Visa Inc. is working with Tingo Mobile, a unit of the global fintech MICT Inc., in an effort to expand access to digital payments throughout Africa. The move starts with the Tingo Visa Card, along with a TingoPay mobile app and a TingoPay business portal. Klarpay AG, a fintech offering businesses …

Georgia has joined a small but growing number of states that have introduced legislation to ban the portion of credit and debit card transaction fees that apply to sales tax. The Georgia bill, introduced late last week by Georgia state senator Billy Hickman (R-Statesboro), proposes prohibiting the fees from being …

In a quarterly earnings call held on short notice, top management at FIS Inc. confirmed early Monday the Jacksonville, Fla. -based company plans to spin off its merchant-services business within the next 12 months. The move comes less than four years after FIS acquired the big merchant processor Worldpay for …

The big transaction processor Global Payments Inc. is set to get significantly bigger by the end of March, its top executives stressed early Friday as they underscored the importance of scale in a business in which Atlanta-based Global processed a record 64 billion-plus transactions in 2022, according to chief executive …

January retail sales, excluding automotive, were up 8.8% over January 2022, Mastercard Inc. said in its latest SpendingPulse report. Restaurant spending, in particular, was high at 24.2% more sales year-over-year. Spending on Bank of America Corp. credit and debit cards increased 5.1% year-over-year in January in a sign the bank interprets as “signs of …

Mastercard Inc. is teaming with videogame-commerce company Xsolla in an effort to smooth online-gaming checkouts by enabling new payment options for Xsolla’s videogame platform, the card network said. Mastercard cardholders will be able pay for gaming purchasing using credit card loyalty points from participating merchants and issuers. They can also …