Transaction Processing

After chastising the Consumer Financial Protection Bureau for way it handled itself in its 2015 lawsuit against allegedly fraudulent debt collectors and their payment processors, a federal judge on Friday threw out the CFPB’s claims against the processors. The case is unusual in that Judge Richard W. Story of U.S. …

So far, most observers would agree same-day ACH credit processing, introduced nearly a year ago on the nation’s automated clearing house network, has been a success. Users appear to be satisfied with the service, and risk appears to be under control, observers say, despite the shorter windows for fraud detection. …

Independent sales organization BluePay Processing LLC acquired Security Card Services, a merchant-services provider for community and regional banks. Terms of the deal were not disclosed. Canadian mobile-payments provider Dream Payments has expanded a dealer program whereby wireless and electronics distributors sell the company’s mobile point-of-sale terminal in-store and online. Currently, more than 100 retailers …

Square Inc. opened a store in New York City on Thursday to showcase its products and highlight products from some of its merchants, marking the digital-payments company’s first effort at running its own brick-and-mortar shop. Dubbed the Square Showroom, the lower Manhattan location has displays of various Square point-of-sale products …

The pending sale by American Express Co. of its Serve technology platform to prepaid card program manager InComm moves AmEx more toward the model used by most other general-purpose prepaid card issuers and still keeps the upscale AmEx brand involved in a business mostly oriented toward moderate- and lower-income consumers, …

With the blessing of the Federal Trade Commission and Whole Foods Market Inc. shareholders, Amazon.com Inc. on Wednesday cleared the last significant hurdles in the way of its $13.7 billion deal to acquire the Austin, Texas-based chain of some 470 grocery stores. The deal, which was announced in June and …

So-called native automated clearing house payments that originate electronically rather than by conversion of a paper check continued their robust growth in the second quarter while same-day ACH transaction volume hit $16.6 billion, reports ACH governing body NACHA—The Electronic Payments Association.  In total, the ACH network transferred 5.35 billion payments, …

Bridg Inc., a marketing software company for the restaurant industry, said Thursday that it lined up $11 million in series B funding from Visa Inc. and private-equity firms Morpheus Ventures, NextEquity Partners, and March Capital. Specific investment amounts made by each company were not disclosed. Los Angeles-based Bridg uses artificial …

American Express Co. says it disagrees with an opinion from the Consumer Financial Protection Bureau that differences in card products it offered in Puerto Rico, the U.S. Virgin Islands, and the Pacific Territories from cards it offered in the United States amounted to discrimination. AmEx says it resolved the differences in 2013 after …

QualPay, a provider of cloud-based, integrated-payments solutions, launched a developer portal allowing integrators to evaluate and deploy payment services. Person-to-person payments by users of services offered by community banks and credit unions average $450, compared to $25 for users of Venmo, a popular third-party app, according to data from Malauzai Software, …