Payments

Visa Inc. and Mastercard Inc. ended nearly two decades of European Union antitrust scrutiny with a pact that requires them to reduce fees for foreigners shopping in the region.

Because the cost of cross-border payments can substantially bite into profit margins for travel agencies, payments technology provider Ixaris and financial service infrastructure developers Banking Circle are partnering to eliminate that expense with virtual bank account numbers.

Vocalink, a Mastercard unit, is partnering with Saudi Payments, a subsidiary of the Saudi Arabian Monetary Authority to launch real-time payments in the kingdom.

The rule requires disclosure of exact fees but institutions can estimate pricing under an exception that will expire in 2020. The CFPB is seeking comment to prepare for that deadline.

Less than a day after saying it would work with large core processors in a consolidating industry, Visa has struck a deal to link its B2B platform to FIS' bank clients.

Intuit Inc.'s QuickBooks is adding next-day ACH payments to its platform as a faster payments option for small businesses using its business management tools.

PayPal has had an on-again, off-again relationship with eBay since the company split off as a unit of the e-commerce marketplace more than four years ago.

Venmo has more than 40 million active users, PayPal has revealed for the first time. This finally gives the market a sense of how popular Venmo is, and sheds a little light on how it compares to the bank-run Zelle service.

Visa Inc. braved a stronger U.S. dollar and a decline in consumer confidence even as its customers’ spending overseas continued to slow during the first three months of the year.

Javier Pérez-Tasso has been named the new CEO of payments messaging standards provider Swift, replacing Gottfried Leibbrandt, who steps down from the post at the end of June.