News

April, 2023

• 14 April

  Will Visa’s 3% Surcharge Cap, Set for April 15, Push Merchants to Cash Discounts?

  

  Visa Inc. is poised to lower on Saturday the amount a merchant can surcharge for transactions on its credit cards from a maximum of 4% to 3%, a move it announced early this year. Some observers acknowledge the reduction will happen, though Visa Inc. has not responded to Digital Transactions …
• 14 April

  Affirm Extends Stripe Agreement to Canada And Other Digital Transactions News briefs from 4/14/23

  

  Buy now, pay later provider Affirm Inc. said it is extending to Canada its processing agreement with payments platform Stripe Inc. Payments fintech Alacriti said it will provide identity verification for real-time payments through fraud-solutions provider Socure. Payments-technology provider Central Payments renewed an agreement with Galileo Financial Technologies LLC to process for Central’s Open*CP Fintech API …
• 13 April

  Eye On Real-Time Payments: Go-Live-Faster Enables a 90-day Integration; SouthState Bank Joins FedNow

  

  With real-time payments quickly becoming a reality for the U.S. payments market, smaller financial institutions are scrambling to adopt the necessary technology. That in turn is creating opportunities for a wide range of technology companies. The fintech Go-Live Faster says it will launch what it bills as a solution that …
• 13 April

  As P2P Transfers Rise Via Apps, Visa Responds With an Interoperability Play

  

  The payments industry continues to reckon with the myriad ways the pandemic has permanently reshaped how people pay businesses and other people. One key example is how individuals are paying each other compared to just a couple of years ago, and how payment networks are responding. In just the two …
• 13 April

  Data Breaches Drop 13% And Other Digital Transactions News briefs from 4/13/23

  

  The number of reported data compromises totaled 445 in the first quarter, a 13% decrease from the previous quarter, according to the latest report from the Identity Theft Resource Center. The number of victims decreased 64% in the same period. Health care breaches, at 81, led the quarter followed by financial services …
• 12 April

  How Fiserv Clients Are Gearing up to Pilot FedNow

  

  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 …
• 12 April

  Square Subscriptions Are Coming As Square Releases a Flurry of Nearly 100 Updates

  

  Square, the in-store and online commerce arm of Block Inc., says Square Subscriptions is in tests for Square Online users. The feature is one of nearly 100 updates the company announced Wednesday. Other notable features include Waitlists in Square Appointments and an integration with reservation provider OpenTable in Square for …
• 12 April

  Garmin Pay on Another Watch And Other Digital Transactions News briefs from 4/12/23

  

  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 …
• 11 April

  Capital One Is Likely to Weather Its Loss of the Walmart Card Portfolio

  

  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 …
• 11 April

  POS Veteran Verifone Launches a Barrage of Cloud-Based Tech for C-Stores

  

  Consumers have been returning to physical stores as the pandemic wanes, and that’s spurring point-of-sale technology providers to bring fresh products to market. The latest example is Verfone Inc., which said Tuesday it is rolling out a panoply of new devices and services for the highly competitive petroleum and convenience-store …