Apple Inc. on Tuesday announced Target Corp., Taco Bell, and two regional chains are the latest merchants to agree to accept Apple Pay in-store, a development that could bolster the mobile-payments service and further smooth the road for contactless payments in the United States. Separately, Target announced it will also …
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Almost a year after Visa Inc. altered the chargeback-resolution process, merchants are reaping some of the benefit. A survey of 500 Chargeback Gurus merchants found that 78% have fewer chargebacks under the Visa Claims Resolution program. “The first goal was to streamline the dispute process,” Suresh Dakshina, Chargeback Gurus president, …
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American Express Co. on Thursday reported a $2 billion profit for the fourth quarter of 2018, representing a significant turnaround from a $1.2 billion loss in the final quarter of 2017. Last year, the New York City-based card giant took a $2.6 billion charge in the fourth quarter that was …
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In a stunning announcement that surprised many observers, Fiserv Inc. said Wednesday morning it has struck a deal to acquire First Data Corp. with what the parties say will be the biggest ever such transaction in the payments and financial-technology businesses. The all-stock deal, expected to close in the third …
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PenFed Credit Union announced Tuesday it will begin issuing contactless Visa-branded credit and debit cards this month. The move comes after a decision by Chase, a unit of JPMorgan Chase & Co., to issue dual-interface cards that will be in force this year. The cards are called dual interface because …
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With the economy still humming along in 2018’s fourth quarter, a nearly 17% increase in merchant-processing volume by JPMorgan Chase & Co. augurs strong volume growth by Visa Inc. and Mastercard Inc. when the bank card networks report financial results later this month. New York City-based JPMorgan Chase operates the …
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With the rise of Chinese tourism, North American merchants have proved eager to accept Chinese mobile wallets like Alipay and WeChat Pay, and now they can add UnionPay cards to that mix. Citcon USA LLC said Monday it will enable merchants in the United States and Canada to accept quick-response …
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Discover Financial Services is on the verge of a major expansion of Discover, Diners Club, and Pulse acceptance across Europe and the Middle East following Friday’s announcement of a deal with a third-party provider. Riverwoods, Ill.-based Discover says it will work with 3C Payment, a Luxembourg-based payment service provider that …
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Fit Pay Inc. announced on Friday it will begin shipping its Bitcoin-based contactless device, Flip, on Feb. 13. The coin-shaped token sells to consumers for $29 and allows them to convert their Bitcoin holdings to U.S. dollars and then spend the money at stores equipped with contactless point-of-sale terminals. The …
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Hotel operator and franchisor Marriott International Inc. reported Friday that 8.6 million encrypted payment card records were compromised in the big data breach it disclosed Nov. 30. Of those, 354,000 cards were unexpired. The card statistics are included in an update Bethesda, Md.-based Marriott issued about the breach of the …
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