Payments News

On The Web

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Companies

Credit card companies to trim merchant fees, but retailers group ‘underwhelmed’

“Ottawa has reached voluntary, five-year deals with Visa, Mastercard and American Express that the feds expect will help small and medium-sized companies save a total of $250 million per year, says a government source familiar with today’s announcement. Starting in 2020, Visa and Mastercard will reduce the fees they collect from businesses to an average […]
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Companies

Visa Says Over 5 Million Payments Affected By June Outage

“”Overall, for cards issued both in the UK and elsewhere … 51.2 million Visa transactions were initiated and sent to Visa’s European systems for processing,” wrote Visa Europe chief executive Charlotte Hogg. “Of these, 5.2 million failed to process correctly,” she added in the letter to Treasury Select Committee chair Nicky Morgan. The outage was […]
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Companies

Visa Canada And Finn AI Collaborate To Expand Artificial Intelligence Banking Capabilities Through Visa Developer

“This collaboration will see the Vancouver -based fintech use Visa Developer Platform APIs to enhance their conversational AI technology to provide a more personalized experience for banks to interact with their customers, including re-imagining the travel experience for cardholders. For example, a customer could chat with a virtual assistant and follow an easy, intuitive process […]
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Companies

Kroger Weighs Widening Unit’s Planned Ban On Visa Credit Cards

“The spat is the latest battle over the $90 billion that U.S. merchants pay each year in swipe fees. Major retailers have long looked for ways to cut down on such charges, including by lobbying lawmakers to lower the rates and through technology upgrades that avoid Visa Inc. and Mastercard Inc. entirely. A burgeoning group of financial-technology […]

On The Wires

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Companies

Visa Data Shows One Fifth Of Purchases At 2018 FIFA World Cup Use Contactless Technology

“Visa, the Official Payment Services Partner of FIFA, today released an analysis of foreign travellers’ spending during opening days of 2018 FIFA World Cup™. The results found that in the 11 Russian host cities of the tournament, approximately one in every five (17 percent) purchases with Visa used contactless payment technology, including smartphones, bracelets and […]
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Companies

Visa And MoneyGram Team Up To Simplify Overseas Money Transfers

“Visa Direct allows companies to leverage Visa’s global reach and scale to transform domestic and cross-border payments for businesses and consumers. The agreement with MoneyGram is the first cross-border use case for Visa Direct transactions originating in the U.S. The initial phase includes two priority corridors (United States to Mexico and United States to Philippines) […]
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Companies

Visa Invests in Behalf to Support Small Business Financing

“Visa (NYSE: V) today announced an investment and partnership with Israeli start-up, Behalf, to support small business growth through easy-to-access capital and financing. Behalf provides working capital solutions for small businesses and flexible financing for business purchases.”
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Companies

Visa and WEX Team Up To Offer Choice And Versatility To Commercial Payments Customers

“Visa Inc. and WEX Inc., a leading provider of corporate payment solutions, today announced a new relationship, uniting two of the world’s biggest commercial B2B payment solutions. As part of this arrangement, WEX and their corporate payment customers have the ability to use a Visa virtual credit card to enable global business-to-business (B2B) payments, thereby […]
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Companies

Visa Launches Visa Loyalty Solutions, The First 100% Digital Loyalty Platform In Latin America And The Caribbean

“Visa today announced the launch of Visa Loyalty Solutions (VLS), an omnichannel digital points redemption platform available to all issuing banks in Latin America and the Caribbean (LAC) and offering consumers more than a quarter of a million redemption options. Visa Loyalty Solutions was co-created by Visa LAC in collaboration with global FinTech and InsurTech company novae. This white-label solution, […]