News

March, 2025

• 5 March

  The CFPB Drops Its Zelle Lawsuit As the Senate Looks to Curb the Bureau’s Power

  

  The Consumer Financial Protection Bureau late Tuesday dropped its lawsuit against Early Warning Services LLC, operator of the Zelle person-to-person payments network. The suit had also named Bank of America, JPMorgan Chase, and Wells Fargo as defendants. The financial institutions are three of the seven bank owners of Early Warning. …
• 5 March

  Why Skipify Is Adding Discover Tokenization

  

  Online-checkout provider Skipify Inc. is adopting tokenization technology from Discover Global Network to ease checkouts for Discover cardholders. Tokenization replaces a consumer’s actual credit or debit card number with 16 other digits, which can help improve conversion rates for merchants and improve shopper satisfaction. San Francisco-based Skipify says the early …
• 5 March

  FedNow Limit Bumped to $1 Million and other Digital Transactions News briefs from 3/5/25

  

  The Federal Reserve announced its FedNow real-time payments network this summer will raise its transaction limit to $1 million from $500,000. FedNow was launched in 2023. Kasheesh Inc. launched a loyalty program called Kasheesh Rewards, aimed at letting users earn rewards based on spending. Kasheesh’s platform allows users to split transactions across credit, debit, and …
• 4 March

  Restaurants Need Better Systems; Small Business Sales Slow

  

  Most restaurants feel their current financial technology stack, which includes point-of-sale systems, needs improvement, according to SpotOn Transact LLC’s 2025 Restaurant Business report. SpotOn’s survey found 84% of restaurants say their current financial systems need an overhaul. Of those, nearly half say they should spend more time on financial tracking, …
• 4 March

  Paysafe’s Top Brass Brushes Aside Takeover Rumors As the Processor Focuses on a Maturing Sales Effort

  

  Rumors about an acquisition of Paysafe Ltd. have swirled around the company for nearly a month, and the processor’s top management early Tuesday were in no hurry to add fuel to the speculation. “We’re going to stick to no real comment,” said chief executive Bruce Lowthers while addressing an equity …
• 4 March

  LegitScript’s New Onboarding Tools and other Digital Transactions News briefs from 3/4/25

  

  Compliance services provider LegitScript released a suite of services to help with merchant risk management. Among them is its Xray AI Risk Intelligence platform that can help with scanning merchant Web sites for card network violations, automatically detecting merchant category codes, and matching merchants against LegitScript’s risk intelligence database. Visa Inc. is working …
• 3 March

  Zip Teams With GameStop; Nuvei Enables Temu to Offer Local Payment

  

  Zip Co. Ltd. has partnered with GameStop to become the e-commerce retailer’s primary buy now, pay later provider for online and in-store customers in the United States. The deal provides Zip with a ready-made customer base, as about 84% of Zip users in the U.S. shop on GameStop for gaming …
• 3 March

  Usage Blooms for Visa’s Tap-to-Phone Offering

  

  A 3-year-old technology enabling merchants to accept contactless payments using a regular smart phone with no special hardware has bloomed with a global year-over-year growth rate of 200%. That rate is even higher in the United States, United Kingdom, and Brazil, the three countries with the highest adoption rates, Visa …
• 3 March

  Fiserv Closes Payfare Acquisition and other Digital Transactions News briefs from 3/3/25

  

  Fiserv Inc. said it has closed on its previously announced acquisition of Payfare Inc., a Toronto-based earned-wage access firm, for approximately $193 million Canadian, or $133 million U.S. Health-care payments provider RevSpring Inc. launched Let’s Talk, a virtual agent created via artificial intelligence to handle inbound calls from patients, including answering questions and …

February, 2025

• 28 February

  Flexa Introduces Tap to Pay For Crypto; Wirex Pay Launches in the U.S.; Bybit Runs a Netflix Tie-in

  

  Flexa Inc., a digital-payments provider, has introduced tap-to-pay for cryptocurrency transactions. The contactless-payment method enhances digital-asset usability by enabling blockchain payments via NFC-enabled hardware wallets without a mobile phone or internet connection, the company says. Hardware wallets, known also as burner wallets, are physical devices that store private keys for …