Issuing/Originating

Fiserv Inc. announced Wednesday that Salem Five, a Salem, Mass.-based mutual savings bank, is piloting FedNow, the Federal Reserve System’s real-time payments network, which is expected to launch in July. In addition to Salem Five, nearly 20 financial institutions, including Peoples Bank and Mediaoplis, Iowa-based Mediapolis Savings Bank, have signed …

Garmin Ltd. launched its latest smart watch, the $450 Instinct 2X Solar, which like most of its devices includes Garmin Pay, the company’s contactless-payment capability. ParkHub, a specialist in digital payments for parking, announced an agreement under which it will process payments at three venues owned by sports and live-entertainment company …

Even if Walmart Inc. is successful in terminating its contract with Capital One Financial Corp. to issue private-label and co-branded cards on the retail behemoth’s behalf, the loss is not likely to have a major impact on Capital One’s business, says a research note from Keefe, Bruyette & Woods. The …

Upset with the customer-service aspects of its cobranded card-issuing deal with Capital One Financial Corp., Walmart Inc. has sued the bank, The Wall Street Journal reported late Friday. Among the allegations brought by Walmart is that Capital One failed to replace lost cards or post some transactions to customers’ accounts …

Payments provide Praxis Tech Ltd. has introduced a service it calls Merchant Initiated Transactions, which allows sellers to leverage a card-on-file option to initiate single-click payments on behalf of customers. GoDaddy Inc., a provider of payments and other services for small business, has released a small-business generative AI prompt library, which offers …

Digital-payments platform Kasheesh, which allows consumers to split purchases between debit, credit, and prepaid cards for online purchases, has introduced a one-time-use Visa card to its mobile wallet that can be used at physical stores. The feature, called Mobile Wallet Dashboard, allows users to add their Kasheesh account to their …

Participants in the new SmartCharge New York electric-vehicle charging program in the New York City area can receive cash back to their PayPal or Venmo accounts if they charge their vehicles during low-demand hours. The program is overseen by electric utilities Con Edison and Orange & Rockland, which are working with ev.energy, …

Digital wallets are taking on new meaning as merchants grapple with how to stay relevant with consumers’ preferred ways to pay. With the total number of digital-wallet users expected to exceed 5.2 billion globally by 2026, wallets benefit consumers and merchants alike, offering swift payments and convenience that expedite the …

FedNow, the impending real-time payment service from the Federal Reserve, was formally introduced to the merchant-acquiring industry Thursday at the annual Northeast Acquirers Association conference. Expected to launch in July, FedNow will enable participating banks to offer instant payments with a default limit of $100,000 per transaction and stretch to …

As the modern payments landscape has developed, digital wallets have become nearly impossible to avoid—not that consumers want to stay away. In fact, the recent decision by America’s largest banks to team up and create their own digital wallet points to quite the opposite. It’s easy to see why consumers …