Transaction Processing

Opponents of Illinois’s controversial Interchange Fee Prohibition Act have ratcheted up the pressure to preempt the law at the federal level or overturn it at the state level. The latest effort comes after a federal judge earlier this year upheld the law’s key provision, which exempts Illinois merchants from paying …

The cryptocurrency exchange Bybit announced its Mastercard-branded Bybit Card has reached 3 million users a little more than three years after its introduction. The card enables users to spend both fiat and digital currencies. The Cost of Bills Index from bill-payment platform doxo indicates a wide gulf between the most and least expensive states, …

Early Warning Services LLC, provider of Zelle and Paze, launched Certos, a suite of products to help financial institutions counter fraud and expand financial access in the U.S. banking system. Digital-currency platform Binance has introduced Binance Chat, a feature in its app that enables cryptocurrency transfers, messaging, and other functions. MegPrime, a …

Quantiiv, an AI-powered data warehouse and analytics platform for restaurants, has launched what it calls a virtual executive that provides restaurant managers with management insights, reportedly without having to navigate dashboards across disparate applications.    The application, known as ROGER, provides an email-based interface that allows managers to send the …

Bill-payment platform InvoiceCloud introduced its Billing Experience, which it says relies on AI throughout billing and payments operations. The peer-to-peer payments service Zelle named 10 MBA students as recipients of the Zelle Community Development & Entrepreneurship Scholarship, which was open to MBA students at five historically Black colleges and universities. PayPal Holdings Inc.’s Venmo P2P payments …

As the number of U.S. consumers who have heard nothing at all about artificial intelligence continues to drop, organizations are preparing for the expected infusion of AI into everyday life. Payments companies are no exception. American Express Co. is releasing a software-development kit called Agentic Commerce Experiences to help consumers …

SpotOn Transact LLC, a specialist in hospitality payments, launched a service called Rapid Fund, which makes card deposits available within 30 minutes of batching out. It is also taking on a partnership with embedded-finance platform Parafin to operate SpotOn Capital. Both efforts are intended to aid restaurants looking to manage …

SoFi Bank N.A. has enlisted Galileo Financial Technologies LLC to offer real-time send and receive capabilities every day, including weekends and holidays, through FedNow. As a result, SoFi customers will be able to move money between their accounts at different banks in seconds, instead of waiting for ACH transfers to …