Merchant

A new cap on credit-card transaction fees that comes into force on July 1 means there’ll be less revenue available to fund lavish award programs.

Square Inc. has just scored its oldest customer ever — a 1,200-year-old Buddhist temple in central Japan.

Samsung, terminal manufacturer Ingenico and Swiss app developer Smartlink are teaming up on an odd premise: Rather than treat wearables as vessels for a mobile wallet, treat those devices as a handful of bills and coins.

SBA lending is on a tear. Gulf Coast Bank & Trust is the latest institution to dive into doing this activity nationwide after buying CapitalSpring.

Chase Pay is the result of years of investment in ChaseNet, a closed-loop system that allows JPMorgan Chase to cut costs in a way few other banks could. So what value — if any — does Chase get from buying the discarded remains of the MCX merchants' mobile wallet?

Better access to credit, an improving revenue picture and promises of regulatory relief are bolstering the confidence of small-business owners.

Host Brett King reports from this week's LendIt conference in New York.

The technology from MCX's CurrentC wallet, which never formally launched, will get new life with Chase Pay, which debuted in 2016 with Starbucks, Best Buy and commitments from MCX members such as Walmart.

The terminal and ATM maker, which is making a number of changes to its business, expecs the plant will be phased out by the end of the third quarter.

The traditonal method of scoring merchants based on risk may not work when the attack uses low risk merchants to hide illegal transactions.