Payment processing

Big-box retailers have beat back banks’ latest attempt to kill a legislative provision that has cost lenders billions of dollars in lost revenue. Known as the Durbin Amendment, the measure was included in the 2010 Dodd-Frank Act to limit how much money banks can charge retailers when consumers use their debit cards.

Netspend is focusing on "overlooked and emerging segments" to expand its prepaid card services, according to company president Chuck Harris. And it's making some very unconventional alliances along the way.

Calling it a first in international payments, the Society for Worldwide Interbank Financial Telecommunication [Swift] is providing a cross-border, real-time payments tracker for banks handling global transactions.

The Internet of Things is making it possible for POS terminals to be connected to all sorts of applications and devices, which helps improve customer experience, but also makes these systems more vulnerable to hacking attacks.

Nasdaq and Citi are partnering to utilize blockchain technology to expand and improve cross-border and private company securities payments.

Nasdaq Inc. and Citi Treasury and Trade Solutions are partnering to utilize blockchain technology to expand and improve cross-border and private company securities payments on Citigroup's business services platform.

Diebold Nixdorf, on a mission to expand its omnichannel banking and retail offerings, has formed a strategic partnership with Kony Inc., a maker of white-label mobile applications.

Collaboration has now become a constant theme in the payments industry, where longtime enemies are putting aside their differences to survive in the fast-paced digital world.

For years, William Shatner plugged Priceline, an online portal to take costs out of travel by pitting hotels and airlines against their rivals. A similar idea is taking shape in the market for payment providers.

WEX Card Australia has announced two agreements with Chevron International to handle the petroleum retailer's fuel card processing in five countries in the Asia-Pacific region.