Issuing/Originating

Defendants in the long-running legal battle over merchants’ card-acceptance costs officially filed an Amended Settlement Agreement Monday. The agreement, filed in the United States District Court for the Eastern District of New York, will provide plaintiff merchants meaningful relief by remedying the concerns expressed by the court over a previously …

Merchant organizations contend an expected settlement offer in their ongoing, two-decades-old lawsuit against Visa Inc. and Mastercard Inc. over card-acceptance fees does not address the underlying problem that leads to high card-acceptance costs in the first place. Merchant opposition surfaced over the weekend after a story in The Wall Street …

Processor Priority Technology Holdings Inc. said it has received a preliminary, non-binding take-private proposal from an investor group led by Priority’s chairman and chief executive, Thomas Priore. The proposal envisions buying the shares the group does not already own at a price ranging from $6 to $6.15 each. The stock was trading …

Faster payments continues to be among the more advanced payment options coming from acquirers and processors. Now, Nuvei Corp. is among the first to integrate Visa Direct for Account, the processor says. Announced Thursday, the integration means clients on the Nuvei platform can use Visa Direct for Account to send …

FIS Inc. historically has been known for its banking technology and for its merchant processing. With its sale of the merchant processor Worldpay to Global Payments Inc., the Jacksonville, Fla-based company has been venturing into other new business opportunities, including artificial intelligence and stablecoins, its top management indicated early Wednesday. …

Wireless carrier T-Mobile has partnered with Capital One Financial Corp. to issue a no-fee credit card that allows cardholders to use the card’s rewards toward the purchase of a new phone or accessories from T-Mobile, and also to pay their monthly bill. The new card was announced by both companies …

The Fiserv Small Business Index remained unmoved at 148 in October from September. Both year-over-year sales and transactions were up in October, up 1.5% and 1.1%, respectively, but this was the slowest annual sales growth rate since February, Fiserv Inc. said. Consumers pulled back on their spending at restaurants and other discretionary …

The VerifiedX Foundation has launched Butterfly, a social-payment and commerce platform that allows users to send and receive VFX, the native VerifiedX cryptocurrencies—Bitcoin, USDT, and USDC coins—instantly via text message, email, or any social-media handle. The new service combines the ease of the Venmo and Zelle peer-to-peer payments networks with the sovereignty of blockchain …

PayPal Inc. has agreed to provide its artificial-intelligence technology to enable product discovery and payments for merchants using Wix.com Ltd.’s commerce platform. Payment card manufacturer CPI Card Group Inc. agreed to integrate into its prepaid card program the SafeToBuy technology from Australia-based prepaid card technology provider Karta. The technology embeds critical data in …

Circle Internet Group Inc. has launched a public test for its Arc blockchain, with participation from more than 100 companies. Circle announced Arc in August for cross-border payments using cryptocurrency. A report from Money20/20, “How will North America’s money move in the future?” forecasts total cross-border payments volume from the Americas will grow …