Debit Cards

Bank of America Corp. said the 608 patents it received in 2022 was a record number and was 19% more than in 2021, with grants covering areas such as mobile banking and payments, machine learning, artificial intelligence, and other technologies. Kasheesh, a digital payments platform than enables consumers to split payments …

Cost surprises at checkout are the leading cause of cart abandonment, with 57% of consumers saying they walked away from checkout at least once in the past year because of unexpected delivery costs, according to a wide-ranging shopping report released by point-of-sale technology provider Verifone Inc., which surveyed 995 respondents globally. Price …

Merchant acceptance, payments, and network and financial technology were the key pillars propelling Fiserv Inc.’s better -than-expected organic growth during the fourth quarter and for fiscal year 2022. Organic revenue growth—growth apart from recent acquisitions—for the three core segments of Fiserv’s business increased 17%, 9%, and 5%, respectively, compared to …

Seeking to improve merchant adoption of PINless debit transactions, the U.S. Payments Forum Monday released a white paper detailing the potential obstacles to PINless debit implementation in the United States and how they can be overcome. One advantage of PINless debit transactions is that they can be processed faster than PIN-based debit transactions, …

Contactless payments have taken off in the United States and other markets in recent years, but now a piece of malware has emerged that can block wave-and-pay or tap-to-pay transactions and force users to insert their cards in a terminal instead, according to a new report by the Moscow-based global …

E-commerce transactions for the 2022 holiday-shopping season bested predictions for growth, despite signs of a weakening economy, according to research from ACI Worldwide Inc. From October through December, online transactions increased 21% from the same period in 2021, besting pre-holiday shopping- growth estimates by six percentage points, says ACI. In …

The U.S. Department of Justice wants more information from Visa Inc. on its U.S. debit practices, a continuation of an investigation originally started in 2021. Visa disclosed the request in a Jan. 27 U.S. Securities and Exchange Commission filing and said the Justice Department’s Antitrust Division made the request on …

Gr4vy Inc., a payments-technology provider, has integrated network-tokenization services from Giesecke+Devrient GmbH into its platform in a move expected to improve authorization rates and cut transaction costs. Owlin, an artificial-intelligence technology developer, launched Owlin for KYC, said to be one platform to screen merchants and to ease onboarding, monitoring, and …

Following years of pandemic restrictions that all card companies had to contend with, Visa Inc.’s top executives late Thursday highlighted stable transaction and processing volumes and growing cross-border travel as the United States and other global regions continued to recover. The event also featured an appearance by Visa president Ryan …

POSaBIT Systems Corp., a point-of-sale system maker for the cannabis industry, said it will acquire MJ Platform, Leaf Data Systems, and Ample Organics from Akerna Corp. for $4 million in an all-cash transaction. The deal will almost double the number of locations serviced by POSaBIT and expands its operations in Canada. …