Payments

Best known as a maker of ATMs and point-of-sale devices, Diebold Nixdorf is launching a new cloud platform to support merchants and their customers as transactions become more hardware-agnostic.

Jamaica plans to give $16 of free money to the first 100,000 citizens who use its soon-to-be-launched Jam-Dex digital currency.

The bank's ongoing partnership with DailyPay complements services such as real-time billing and payments. This combination could help employers attract and retain employees amid the Great Resignation.

Germany has emerged as the main roadblock to broaden European Union sanctions against Russia by targeting the country’s biggest bank and its energy sector. 

Early Warning Services, which operates the Zelle peer-to-peer payments network, is working to educate consumers about common scams, but it faces criticism over how its banks respond to victims.

Visa and Mastercard are set to cut interchange rates for some transactions, but merchants argue that they will still pay more overall and want Congress to put a stop to the card networks' plan.

Bank of America’s consumer clients made $294 billion of total payments last month, up 16% from a year earlier, as the U.S. economy continued its recovery from the coronavirus pandemic.

As Visa and Mastercard move swiftly to limit their business in Russia, their nascent rivals face a challenge to fill the gap.

U.S. payment giants like Visa, Mastercard, American Express and PayPal — along with smaller companies like Paysera in Lithuania — have blocked transactions or pulled out of Russia and Belarus in response to the invasion of Ukraine.

Sberbank said it’s looking at the possibility of issuing cards using the Russian payments system Mir and China’s UnionPay after Visa and Mastercard suspended operations following the invasion of Ukraine.