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Confirming rumors that the Federal Trade Commission is looking into issues involving debit card transaction routing, Visa Inc. late last week reported the Federal Trade Commission has asked it to voluntarily provide information about its routing practices. In a brief notice in its fiscal 2019 report to the Securities and …

As peer-to-peer payments services like Cash App, Venmo, and Zelle grow in popularity in the United States, some observers fret that underserved populations are being left behind. PayPal Holdings Inc.’s Xoom money-transfer service said Tuesday it’s attacking that issue in a collaboration with Walmart Inc. and Euronet Worldwide Inc.’s Ria remittance …

A retail trade association as well as Target Corp. have endorsed the Federal Reserve’s planned FedNow real-time gross settlement service. In a letter posted last week on the official FedNow comment site, the Washington, D.C.-based Retail Industry Leaders Association said “over the past decades RILA has seen competition and innovation …

Consumers that want to pay cash for their Amazon.com Inc. purchases now have another option in the St. Louis area. Save A Lot launched the ability for consumers to use Amazon PayCode, the e-retailer’s cash-payment service, at several Save A Lot locations in the grocer’s hometown. It expects to expand …

A federal judge is scheduled to hear arguments Thursday on whether a proposed settlement worth up to $6.24 billion in damages to card-accepting merchants is fair.  The hearing in U.S. District Court in Brooklyn, N.Y., is expected to draw a roomful of lawyers for defendants Visa Inc., Mastercard Inc. and …

The Kroger Co. lifted its acceptance ban on Visa credit cards at its Smith’s Food & Drug and Foods Co subsidiaries, according to news reports. Kroger, citing what it called high acceptance costs, first banned the cards at its small Foods Co chain in August 2018 and extended it to the larger Smith’s …

Issuer and acquirer American Express Co. said its global third-quarter discount rate—what merchants pay to accept the brand’s credit cards—was 2.39%, a slight increase from 2.38% a year ago. The uptick comes more than a year after AmEx said it would shave its worldwide discount rate in an effort to boost …

Two senior Federal Reserve officials said Tuesday they are committed to rolling out the proposed FedNow real-time payments service as quickly as possible, but they didn’t say the original schedule calling for a launch in 2023 or even 2024 will be shortened. “We will be making every effort, I think, to …

AeroPay, the mobile-payments service from Aero Payments LLC, debuted a 1% cash-back rewards program for its users. AeroPay, which uses a connection to the automated clearing house network for its transactions via Dwolla Inc., says consumers using its iOS or Android app can earn unlimited 1% cash-back rewards. The payout …

The recently completed acquisition of Total System Services Inc. (TSYS) by Global Payments Inc. is “the best of the bunch” among the three megamergers in the payment-processing industry this year, investment research firm Morningstar Inc. says in a new report. The Global-TSYS deal “has the most capacity to reduce costs …