News Topic: Payment processing

Banco Santander’s global digital transformation has led it to Mexico, where the bank has agreed to acquire U.S. Bancorp’s Elavon Mexico merchant acquiring unit for about $84 million. ... Read full article

Higher rates are looming for transactions on e-commerce sites, while merchants in certain services categories, such as real estate and education, will see fees decline, according to a document Visa sent to banks. ... Read full article

The bank raised its return-on-equity goals, based mostly on cost cuts and its core trading business; the Fed did raise the rate it pays on bank reserves. ... Read full article

The regulators plan to drop the 3% limit on bank investments in venture capital funds; Visa invests in another fintech startup. ... Read full article

For banks and other financial institutions to survive and thrive in the age of mobile payments and e-commerce, they need to continue to enhance their mobile apps with more innovations, tighter security features and more time-saving capabilities. ... Read full article

With customers now having the opportunity to onboard across multiple devices and channels, or even through a call center, the likelihood of an inconsistent experience is drastically increased, Neal Keene of Intelledox says. ... Read full article

Interoperability has become a top priority in the minds of those advancing faster payments. ... Read full article

There is no way to know exactly what the market will look like in 2023 or 2024 when FedNow debuts. We're working on a solution that can help our customers right away, says Luanne Cundiff, president and CEO of First State Bank of St. Charles in ... Read full article

The promise of real-time payments and the reality of the market are often at odds. That’s not a bad thing — it’s a sign there are pockets of demand that weren’t originally foreseen. ... Read full article

The fintech is now worth $10 billion more than its top rival, Square; cost cuts, asset growth and share buybacks could offset the headwinds from low rates. ... Read full article

The new regulation in New Zealand shows other jurisdictions how best to address cryptocurrencies and their use in payments. ... Read full article

House Financial Services Committee Chairwoman Maxine Waters and over a hundred other lawmakers want the agency to go forward with a mandatory underwriting requirement for payday loans. ... Read full article

Payments are a big business and the market is evolving. Emerging technologies and shifts in consumer behaviors and expectations are reshaping the payment process landscape. ... Read full article

Bank of America said it will end a payments joint venture with First Data next June when a contract between the two companies expires. ... Read full article

Fiserv expects its $22 billion purchase of First Data Corp. to close on Monday after clearing regulatory requirements. ... Read full article

Visa’s decision on how or if it will participate in Facebook’s Libra will be based on how the social network handles the mountain of criticism and requirements that global regulators and lawmakers are heaping upon it. ... Read full article

Financial institutions are in the midst of a digital revolution due to emerging, innovative technologies and shifts in consumer behavior and expectations. Payment processing is no exception. ... Read full article

The U.S. payment system is at a critical juncture as advancements in computing speed and an influx of new payment solutions, and providers, reshape the global payment processing landscape. Here's what you need to know. ... Read full article