Pricing

Fiserv Inc.’s acquisition of First Data Corp. this year was the first of a trio of big mergers that has made 2019 the year of the megadeals in payments. On Thursday, a key Fiserv executive close to the action explained how the $22-billion acquisition served as the capstone to a …

One of the longest-running antitrust lawsuits in the payments industry is getting into gear again with a new request by independent ATM deployers for class certification in their action against Visa Inc. and Mastercard Inc. The National ATM Council Inc. (NAC) trade group and 13 ATM independent sales organizations originally …

Merchant processor Square Inc. on Nov. 1 will drop its longstanding 2.75% point-of-sale rate for a new pricing plan of 2.6% plus 10 cents. Based on recent U.S. purchase dollar- and transaction-volume statistics from the bank card networks, Digital Transactions News calculates the new pricing plan will generate about 1% …

Speedier funding of merchant accounts has become a key part of the faster-payments trend as sellers seek ways to gain a competitive edge, and on Tuesday JPMorgan Chase & Co. entered the fray with a same-day deposit service for merchants that bank with Chase. The new service, which is being …

The Federal Reserve’s proposed FedNow real-time payments service won’t be live for more than three years, but bankers and other interested parties peppered two Fed officials with plenty of questions about it Monday. The occasion was a 90-minute webinar in which the officials reviewed the ambitious FedNow plans unveiled last …

Fiserv Inc. said its First Data unit, together with Visa Inc. and Samsung Electronics, is demonstrating a new software-based point-of-sale technology that allows an everyday mobile device to accept contactless payments from contactless cards or phones or wearables equipped with near-field communication. A pilot of the technology is set for Poland …

CardX LLC, which specializes in credit-card surcharging programs, said it secured $2 million in funding through Pace Financial Group. This brings CardX’s total capital raised to date to $8.62 million.Payments-automation provider AvidXchange agreed to acquire BankTEL Systems, which offers accounting technology to banks. With the deal, BankTEL will link clients to AvidXchange’s AvidPay network …

Square Inc. agreed to sell its Caviar food-delivery service to DoorDash for $410 million in cash and DoorDash preferred stock. Square acquired Caviar in 2014 for a reported $90 million.Montreal-based payment firm Nuvei Technologies completed its acquisition of U.S.-based SafeCharge International Group Ltd. for $889 million; the deal brings to Nuvei technology assets and merchant …

The Kroger Co. and Visa Inc. have settled a 2016 federal lawsuit in which Kroger alleged Visa interfered with its transaction-routing plans for EMV debit cards, Digital Transactions News has learned. In a separate dispute, however, the leading stand-alone supermarket chain is still boycotting Visa credit cards in some of …

The end of Bank of America Merchant Services, a merchant-acquiring joint venture between Bank of America Corp. and First Data Corp., is at hand.  Charlotte, N.C.-based BofA said Monday it will pursue an independent merchant-acquiring strategy beginning in June 2020, though First Data, which that same day became part of …