Payments News

On The Web

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The Coronavirus Economy Is a Mixed Bag for Credit-Card Issuers

“Consumers are spending money as if the coronavirus recession is over. But they are also paying down old debts and avoiding new ones in case the pandemic lasts a while. That is the discordant picture of the U.S. economy that emerged from third-quarter earnings reports from some of the country’s largest credit-card issuers. Capital One […]
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Providers

Credit Card Firms Split on Fate of Consumers While U.S. Cuts Aid

“A fissure is forming in the U.S. credit card industry: Are consumers about to go bankrupt or bounce back? On one side, risk-management pioneer Capital One Financial Corp. is reining in credit lines to reduce its exposure. On the other, the nation’s largest card issuer, JPMorgan Chase & Co. , is rolling out a new […]
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Providers

Credit Cards Start Offering Lower Limits Amid U.S. Outbreak

“Major U.S. credit-card issuers are starting to lower customer spending limits as the coronavirus pandemic leaves millions of Americans jobless and struggling to keep up on loans. Discover Financial Services just became the largest lender yet to acknowledge it’s begun reining in lines of credit for new customers. In a regulatory filing late Wednesday, the […]

On The Wires

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Marqeta and Uber enter strategic global card-issuing partnership

“We’re thrilled to announce that we’ll be serving as a global card issuing partner for Uber, helping to provide critical financial infrastructure for its global expansion. Although we’ve already been supporting the global growth of Uber Eats, we’ll be serving as Uber’s card issuing partner for future projects as well. Uber will be using our […]
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Providers

Global Payments Signs Multi-Year Agreement With Wells Fargo Bank

“Global Payments Inc. (NYSE: GPN), a leading worldwide provider of payment technology and software solutions, today announced that TSYS, its Issuer Solutions business, has renewed its agreement with Wells Fargo, the fourth largest bank in the U.S. As part of the multi-year agreement, TSYS will continue to provide a range of processing and support services […]
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Providers

American Express Expands Popular ‘Pay It Plan It’ and Pay Over Time to U.S. Consumer Green, Gold and Platinum Cards

“As customers’ needs have evolved, American Express continues to bring innovative features and benefits to Card Members. Starting on August 1, Card Members have more ways to pay for the things they buy with the expansion of Pay It Plan It to its iconic U.S. Consumer Green, Gold and Platinum Cards, and Pay Over Time […]
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Providers

Chargebacks911 Introduces Fi911, AI-Driven Payment Product Suite

“Chargebacks911, a global leader in the field of chargeback control and mitigation, has introduced Fi911, a new tool suite for banks and other financial institutions. Developed by Chargeback911’s experts, in collaboration with some of the world’s largest financial institutions and payments processors,Fi911 is designed to enable financial institutions to automate their procedures and deal efficiently […]
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Providers

Galileo Instant Takes Aim at Growing 1099 Payment Landscape

“Galileo today announced the full launch of Galileo Instant, a frictionless solution for gig-economy, marketplace, ecommerce, fintech and other businesses that want the speed and convenience of creating debit cards through a single point of contact—Galileo. Using Instant, qualified businesses can launch their debit card programs as early as 14 days—start to finish.”
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Providers

Strong Adoption of I2c Solutions Drives Expansion Across Americas

“i2c Inc. , a leading provider of digital payment and open banking technology today announced an expansion of its business in both North and South America as demand continued to accelerate for its innovative solutions. i2c has signed 17 new clients across the Americas since the beginning of the year representing both commercial banks and […]