Payment processing

Citigroup Inc. is jumping into the battle over the $90 billion in swipe fees that merchants pay each year to process debit and credit cards.

Although slow to catch up, issuing banks are well placed within the payments ecosystem to capitalize on short-term credit provision — in fact, they can be the biggest winners, argues Mehmet Sezgin, CEO and founder of myGini.

Mastercard and Lazada, an Alibaba affiliate, have joined forces to collaborate on e-commerce systems for developing markets in the Southeast Asia region.

Despite some significant advancements in the past two years, rifts are already developing in the U.S. move to faster payments.

Lyft, the No. 2 ride-share competitor behind Uber, recently filed its Form S-1 Registration Statement with the SEC in preparation for an IPO, and the data it revealed is eye-popping.

Cloud point-of-sale provider Revel has implemented its platform for large companies and chains at hundreds of Golftec instruction sites globally.

The Instagram social media platform is testing a checkout feature powered through PayPal to provide users the option to purchase goods without leaving the app.

The FIS-Worldpay merger is the largest international payments deal to date, significantly topping the recent Fiserv-First Data merger that turned heads at the beginning of the year. But the FIS deal’s strategic implications could be more interesting than the raw numbers.

The companies could bring something new, such as merchant acquiring to community banks, but their merger could also cause anxiety about giant vendors.

Bank technology giants FIS and Fiserv are spending nearly $66 billion between them in just the past few weeks to add a broad swath of payments technology — including a few key nuggets that will help them go toe to toe with fintechs.