Transaction Processing

PayPal Holdings Inc. and Bank of America Corp. announced an agreement whereby PayPal will tokenize BofA cards for in-store transactions based on the PayPal wallet. The in-store payments will work with a PayPal service using near-field communication that PayPal says is coming, without adding details. Discover Financial Services said in its second quarter earnings …

PayPal Holdings Inc. has changed in ways large and small since Dan Schulman took over as chief executive two years ago, but perhaps its biggest change is its willingness to embrace collaboration with financial institutions, payment networks, and others once seen as keen rivals. At least some vindication of that …

A Wisconsin supplier of kiosks for employee break rooms is getting national attention in the wake of its announcement that it plans to implant radio-frequency identification microchips in the hands of volunteer employees Aug. 1, chips the company says will support payments. Three Square Market, based in River Falls in …

The number of payment facilitators is growing rapidly, with technology platforms and independent software vendors alike increasingly taking on the role. Yet confusion remains about just how a payment facilitator—or payfac, in industry parlance—differs from a conventional merchant acquirer or even from a marketplace. That confusion clouds the responsibilities payfacs …

Atos, parent company of France-based processor Worldline S.A., said Worldline has a deal with payment processor First Data Corp. to buy First Data’s subsidiaries in Lithuania, Latvia, and Estonia, collectively known as First Data Baltics, for €73 million ($85.1 million) in cash. The acquisition comes little more than a week …

With a rapidly expanding e-commerce market, online fraud-detection and -prevention efforts are poised to grow over the next few years. Merchants are expected to spend $9.3 billion annually on these efforts by 2022, says Juniper Research. That’s a 22% increase from the 2017 spending total, though it pales in comparison …

Faster payments may be in the offing, according to the Federal Reserve, but that term refers to the speed of clearing and settlement. It doesn’t mean new payments methods will necessarily go mass market any more quickly. Take mobile payments, a form of digital value transfer based on smart phones …

In a payments play on acquire and be acquired, Paysafe Group plc announced Friday that it has a deal to acquire Delta Card Services Inc., parent company of independent sales organization Merchants’ Choice Payment Solutions, for $470 million in cash. Separately, United Kingdom-based Paysafe also confirmed that it has received …

• A London judge has rejected an effort by a consumer group in the United Kingdom to bring an $18 billion class-action suit against Mastercard Inc., according to Bloomberg News. The case is related to the card network’s cross-border transaction fees. • Square Inc. announced that Randy Garutti, chief executive of …

Now that the Federal Reserve-sponsored Faster Payments Task Force has issued its final report calling for speedier payments everywhere in the United States by 2020, the really hard work can now begin, say some observers. Payments cleared and settled in near real time has long been a goal of many …