Issuing/Originating

In what may be the biggest anticlimax in their careers, employees at First Data Corp. will walk into their offices Monday morning as employees of Fiserv Inc. And if Fiserv chief executive Jeffery Yabuki’s ambitions prove fruitful, the combined company will play a leading role in fending off nonbanks like …

Discover Financial Services’ Payment Services unit reported its transaction volume grew 8% year-over-year to $61.8 billion, a result that included 7% growth for its Pulse electronic funds transfer network. Overall, total Discover revenue net of interest expense increased 10% to $2.85 billion, while net income jumped 13% to $753 million.In related …

Equifax Inc., which in 2017 sustained a data breach that potentially exposed sensitive information related to 148 million files, on Monday announced what that massive intrusion will cost the company. The Atlanta-based credit-reporting agency said it will pay $671 million as part of an agreement to settle multidistrict class-action litigation …

Urban FT Group Inc. announced the acquisition of CFC Technology Group LLC, a remote deposit capture provider, a move Urban FT says will boost its presence among smaller financial institutions. Terms were not disclosed. New York City-based Urban FT says CFC works with more than 800 institutions and thousands of …

Add LG Pay to the multitude of U.S. mobile-payment options. LG Electronics USA announced Tuesday the mobile-payment service is available on select LG smart phones. The move comes a year later than LG initially said it would. LG Electronics Inc., the parent company of LG Electronics USA, introduced LG Pay …

Visa Inc. said Wednesday it has acquired Payworks GmbH, a Munich-based developer of cloud-based point-of-sale payment-gateway software. Visa intends to integrate Payworks’ technology with that of another Visa property, CyberSource, and offer the combined product to merchants and acquirers. Terms of the acquisition were not disclosed. The combined offering will …

Bank of America Corp. says it has 8 million active users of the bank-backed Zelle person-to-person payment service and that it handled 69 million Zelle transactions in the second quarter, nearly double the 35.2 million transactions a year earlier. BofA had 5.4 million Zelle users in the 2019 first quarter. …

Facebook Inc.’s Calibra wallet will generate revenue for its parent by stimulating incremental advertising but the proposed Libra cryptocurrency will also work with competing wallet apps, the company’s point man for Calibra said Tuesday. David Marcus, head of Calibra for the huge social network, said in prepared remarks that the new …

JPMorgan Chase & Co. reported its merchant-acquiring subsidiary processed $371.6 billion in payments in the second quarter, a 12% increase from a year earlier. On the issuing side, the massive banking firm reported $281.5 billion in second-quarter credit and debit card sales volume, up 10%. Wells Fargo & Co. reported …

Fraud-control executives and researchers predicted card-not-present fraud would boom when the U.S. converted to EMV chip cards a few years ago, and, sure enough, it did. But if the experiences of other countries that adopted EMV before the U.S. are any guide, Americans can take relief in that CNP fraud …