Payments News

On The Web

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Systems

New York City Council OKs Restaurant Surcharge During Pandemic

September 17 2020

“New York City restaurants would be able to charge customers a 10% Covid-19 relief fee under legislation approved Wednesday by the City Council. The move would temporarily end a ban on restaurant surcharges in the city that has lasted more than four decades. The new fee is intended to ease some of the financial hardship […]
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Systems

How FIS Sped 6 Million EBT Cards to Feed Needy Kids During the Pandemic

September 14 2020

“When the pandemic shut classrooms across the U.S. this year, the federal government looked for a quick solution to prevent millions of needy students who typically receive meals at school from going hungry. Under the Families First Coronavirus Response Act, the government proposed covering the cost of lunch for eligible school-age children so families could […]
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Global

NAB Hits Back at Afterpay with a No Interest Credit Card

September 10 2020

“The rapid growth of Afterpay and younger borrowers’ desire for more control over debt prompted a response from National Australia Bank, which launched a no-interest credit card on Wednesday in a banking world-first. NAB’s StraightUp card will never charge interest to the customer, in contrast to the 20 per cent rates on many credit cards. […]
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Systems

Ex-Bank of America employees allege ‘extreme pressure’ to sell credit cards

August 28 2020

“But even as Bank of America’s nationwide sales practices were facing governmental scrutiny, company executives in one state were putting increased pressure on branch-based employees to sell more credit cards, according to interviews with former BofA employees, a wrongful termination lawsuit filed by one of those ex-employees and documents reviewed by American Banker. The interviews, documents […]

On The Wires

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Systems

Instant Payments: Push-to-Debit Functionality is Here

September 16 2020

“Credit card networks, such as Mastercard and Visa, are especially suited to support use cases where speed and availability of funds are paramount. In most cases, money transferred over the card rails is delivered in real-time and available to recipients 24 hours a day and 365 days a year. With Dwolla’s Push-to-Debit offering complimenting the […]
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Providers

Start Earning More Travel Rewards With the Hotels.com® Rewards Visa® Credit Card

September 14 2020

“Hotels.com® announced today the launch of its first-ever credit card: the Hotels.com® Rewards Visa® Credit Card. The new, no-annual-fee card was designed with the traveler in mind, offering rewards that transform everyday spending into more rewarding travel. Hotels.com already has one of the most generous rewards programs in the industry. As a Hotels.com Rewards member, […]
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Companies

Citi Retail Services and Wayfair Announce New Strategic Partnership With Launch of Private Label and Co-Brand Credit Cards

September 11 2020

“Citi Retail Services and Wayfair, one of the world’s largest online destinations for the home, today announced a long-term partnership to provide a new private label Wayfair Credit Card and co-brand Wayfair Mastercard with compelling rewards and benefits for Wayfair customers. This new partnership with Citi Retail Services – one of North America’s largest and […]
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Systems

InComm Identifies Areas of Growth for Gift Cards in 2020, Despite COVID

September 10 2020

“Online purchases of gift cards more than doubled in the first two quarters of 2020, outpacing the year-over-year growth of 24 percent measured from 2018 to 2019. This insight reveals how retailers can engage consumers who may be hesitant to return to brick-and-mortar stores during the COVID-19 pandemic. The findings were published today by payments […]
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