Payment processing

Walmart's new pact with JPMorgan Chase is anything but routine. From the perspective of Walmart, this deal hands it a long-desired holy grail: less expensive Visa transactions.

As the payments industry prepares to lay the foundation for same-day Automated Clearing House payments this week, technology provider linked2pay is combining merchant onboarding for acquirers with real-time acceptance of ACH and other payment services.

The expanding base of contract workers who use mobile apps to set up jobs and receive payment is upending traditional payroll practices, requiring new levels of speed and efficiency from financial services companies.

It was inevitable that someone would try to add up those extra seconds it takes to perform an EMV transaction, and when Cayan did it concluded that EMV is forcing U.S. consumers as a whole to spend years in extra time at the register.

The one thing payment terminal hardware makers should have been sure of this year was relatively strong demand from merchants finally upgrading to EMV-compatible equipment after the slow start last year to the U.S. chip-card migration. But that's not how it's turning out.

Sweden’s iZettle is following a now-familiar playbook to fuel its expansion in Europe with its acquisition of intelligentpos, a company specializing in business-management tools popular with restaurants and other small to midsize businesses.

Verifone Systems Inc., one of the world’s largest makers of payment-terminal hardware, tumbled in late trading after cutting its full-year profit and sales forecasts for a second straight quarter.

CHICAGO -- In payments politics, it's difficult to imagine a topic that gets the blood flowing more than the EMV chip-card shift in the U.S.

It would have to take something big for consumers to flock to a mobile wallet en masse. Whether it meant to or not, California-based RadPad found out what consumers wanted, but it wasn't prepared for the aftermath.

If there is a takeaway from Citigroup's not-quite-stellar rollout of the Costco Anywhere Visa card, it is this: Even in modern times, the transition of large card portfolios from one issuer to another can prove disastrously complex.

There’s no way to gift-wrap the EMV woes for issuers and retailers around the upcoming holiday sales season.

Acquirers and independent sales organizations have long heard a similar refrain: Adjust to the fast pace of technology or perish.

Citigroup Inc. mistakenly sent e-mails to some active Costco Wholesale Corp. members telling them their wholesale club membership had lapsed and that their cards would be canceled, bringing a fresh headache to the new partnership.

They may seem like a relic from a bygone era, but dial-up terminals have shown surprising staying power in today's payments ecosystem.

Phillips 66 is the third major merchant to come aboard for JPMorgan Chase & Co.’s upcoming launch of Chase Pay—alongside Starbucks and Shell Oil—and the byproduct of this deal is an overhaul of the gasoline and convenience retailer’s existing, relatively bland apps.

Grocery stores are well-oiled machines, with the placement of every product carefully researched to guide the shopper from one item to the next. But even this process has some room for improvement.

Walmart Pay has been available nationwide at Walmart stores for several weeks, but consumers haven’t taken much notice — a foreboding sign for those hoping for a breakthrough with merchant-branded mobile payment apps.

Three quarters of debit cards will have chips by the end of the year, but slow merchant adoption is limiting use, according to Pulse.

Payments technology is rapidly changing, but so is the broader environment for retailers, creating a need for flexible and diverse payment acceptance options.

The tough move from free to fee for its readers has Square adjusting its strategy to lure merchants, but it also opens the door wider to new markets, according to CEO Jack Dorsey.