Issuing/Originating

Capital One Financial Corp.’s proposal to acquire Discover Financial Services for $35.3-billion, announced in February, has been approved by the Office of the Delaware State Bank Commissioner. The proposal includes Discover Bank. Shareholders in both companies are set to vote on the transaction Feb. 18, 2025. Visa Inc. has closed on its offer to acquire …

The Consumer Financial Protection Bureau early Wednesday released a circular to law-enforcement agencies warning that operators of credit card rewards may be violating a prohibition against unfair, deceptive, or abusive acts or practices by devaluing earned credit card points and airline miles. The CFPB issued the circular in part due …

Department-store chain Bealls Inc. is adding buy now, pay later as a payment option at its more than 650 stores nationwide. The provider is Minneapolis-based Sezzle Inc. The Bradenton, Fla.-based chain, which operates stores in 23 states, says it is adding the payment option to provide holiday shoppers more flexibility …

CargoSprint, a payments processor for the cargo industry, has acquired Advent Intermodal Solutions LLC, which provides technology for port operations, including payments. Terms were not disclosed. The payments network Modern Rails has begun using the FedLine Direct Solution to support connections to the Federal Reserve’s payment-settlement network for banks and credit unions. …

Ackroo Inc., a Canadian gift card and loyalty platform, announced early Friday it has reached a “definitive” agreement to be acquired by Paystone, a Canadian-based gift card and loyalty processor, in an all-cash deal for $21 million. Paystone will acquire all of the issued and outstanding shares of Ackroo at …

The American Bankers Association on Thursday issued a long and detailed letter it has sent to the Federal Reserve Board to argue its case against a Fed proposal that would reduce a longstanding cap on the interchange banks can earn on debit card transactions. The ABA’s action follows an analysis …

Slope, a provider of buy now, pay later solutions for business-to-business transactions, announced early Thursday it will use Marqeta Inc.’s card-issuing platform to issue a B2B credit card that features BNPL payment options. The card is expected to make it easier for businesses to manage purchases and cash flow by …

Canada-based processor Nuvei Corp. announced an expansion of its Google Pay offering to merchants throughout Latin America. The company already offers the wallet in the U.S., European, Asia-Pacific, and Australian markets. Grocery e-commerce platform eGrowcery said it and Forage, a payments provider that can process online EBT SNAP payments, are working on a service …

Google Inc. has sued the Consumer Financial Protection Bureau following the CFPB’s action Friday asserting federal supervision of the company’s Google Pay wallet. In the suit, filed in U.S. District Court in Washington, D.C., the same day the CFPB acted, the tech giant argues the case targets a payment service …

Consumers holding Bank of America Corp. credit and debit cards now have access to the Paze online checkout following BofA’s  declaration that all of its eligible cards are now enabled for the e-commerce service. Paze is an online-checkout service developed by Early Warning Services LLC. It is designed to provide …