Payment processing

JetPay has received a fresh round of funding from payments industry veteran Larry Stone, who is joining the company’s board.

Mastercard's $924 million buy of VocaLink was the highest value acquisition in the payments industry during the third quarter.

Longtime Amex exec Alfred F. Kelly Jr. will be taking over as Visa CEO at a time when much is at stake for the global card network.

Restaurants are already busy adjusting to consumer trends toward mobile payments and a rough transition to EMV payments. But there's also a back office payment problem with slow, costly paper checks and invoices for payments to restaurant vendors and suppliers.

CHICAGO -- At some point, the Federal Reserve Bank's three-year journey to create a faster payments system in the U.S. will run head long into one of its major challenges -- making sure it can operate within all networks.

Arguably the biggest shift was that of Avid Modjtabai, the head of consumer lending, who has been named chief of the new payments group focused on digital and online offerings, investments in research and development and strategic partnerships.

As more merchants worry about EMV card slowdowns ahead of the holiday shopping season—when bottlenecks at checkout points could lead to many lost sales—more companies are coming up with their own ways to slash EMV payment times.

Harley Financial Services has launched business payments software HarleyPay for its merchant clients through provider linked2pay's Bank Centric Payments platform.

Visa Inc., MasterCard Inc. and American Express Co. lost an early round of a lawsuit alleging they colluded to pin liability for fraudulent transactions on merchants who didn’t meet a chip-reading technology deadline.

Costco Wholesale Corp. reported fourth-quarter earnings that beat analysts’ estimates, even as falling grocery prices cut into its sales growth.