Transaction Processing

Fraud costs merchants in the United States $4.61 for every $1 of fraud incurred, up 32% from $3.16 in 2022, according to LexisNexis Risk Solutions’ annual True Cost of Fraud Study. In Canada, fraud costs merchants $4.52 for every $1 of fraud incurred.  Driving the increase is that criminals are …

Visa Inc. will launch an updated Authorize.net, in what it calls a “reimagining” of the venerable gateway. Announced Thursday, the updated version will be available in the second quarter in the United States and in other markets later this year. Visa’s announcement was one of three it made, including a …

The e-commerce platform Shoplazza Corp. said it has upgraded its payments platform in an effort to streamline checkout and cut cart abandonment. Aurora Payments has launched a service for its Arise payment platform that replaces cardholder data with tokens issued by the card networks in an effort to cut fraud, boost approval rates, …

MoneyGram International Inc. said it will adopt Mastercard Move, the card network’s cross-border money-transfer application. Mastercard Move will enable MoneyGram users to initially send cross-border payments to 38 markets. Additional markets are expected to come online throughout the year. MoneyGram customers can receive payments through MasterCard Move at nearly 10 …

What may be the first merchant-branded, automated clearing house-based pay-by-bank service has launched. Pay with Spire Inc., a Dallas-based payments provider, says its new Pay with Spire platform enables merchants to accept pay-by-bank transactions with no integration and at lower acceptance costs than credit or debit cards. Spire says the …

Led by digital wallets, instant payments, and QR-code payments, alternative payment methods will account for $142 trillion in volume by the end of 2030, up 170% from now, according to a forecast from ABI Research. Eurostar, the European passenger rail line, has adopted Klarna AB to enable ticket purchases in three equal installments …

Transactions on the Electronic Payment Network, the automated clearing house network, operated by The Clearing House Payments Company LLC, totaled 20.7 billion in 2024, a 6.2% year-over-year increase, TCH reported late Monday. Dollar volume during the period totaled $56.4 trillion, a 7.6% rise from a year earlier. Dollar volume on …

Stride Bank N.A. announced it will issue the Affirm Card, a debit card from buy now, pay later platform Affirm Holdings Inc., becoming Affirm’s latest issuing partner. Affirm says it had 1.7 million active cardholders as of Dec. 31, 2024. Payfave Inc., which does business as Wink, announced it has merged …

Ingo Payments, a provider of account funding, transfer, and payout solutions, has chosen Marqeta Inc. to be the issuer processor for Ingo’s enhanced embedded-banking platform. The deal will help Ingo Payments provide its customers a scalable technology stack to develop financial products and bring them to market quickly, the company …

Two private-jet operators early Monday announced news about their acceptance of cryptocurrency, raising yet again questions about the usefulness of digital currency both for luxury spending and everyday shopping. Clearwater, Fla.-based Hera Flight said it has started accepting Bitcoin, Ethereum, and other cryptocurrencies for charter flights. Meanwhile, Paramount Business Jets …