V – The News Desk

Visa Agrees to Acquire Majority Interest in Payments Processor Prosa

16Dec

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Money

Visa Agrees to Acquire Majority Interest in Payments Processor Prosa

Visa entered into an agreement to acquire a majority interest in Prosa, a payments processor in Mexico.The payments-networks company said Prosa will operate as an independent company with its own technology infrastructure under the agreement, while Visa looks to expand Prosa’s product offering with new digital solutions, among other efforts.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Fed Floats Deep Cuts to Debit-Card Swipe Fees

26Oct

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Money

Fed Floats Deep Cuts to Debit-Card Swipe Fees

Updated Oct. 25, 2023 2:26 pm ETWASHINGTON—The Federal Reserve proposed lowering by about 30% the fees merchants pay to many banks when consumers shop with debit cards, setting off a fight with banks that oppose the changes. At present, merchants pay large card issuers such as JPMorgan Chase and Bank of America 21 cents plus 0.05% of the transaction amount, which is the level set by the Fed in 2011. The Fed can lower the cap if it determines the costs for processing debit-card payments are declining, but it had never previously done so.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Visa, Mastercard Want a Slice of Africa’s Mobile Money

19Oct

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Money

Visa, Mastercard Want a Slice of Africa’s Mobile Money

Updated Oct. 19, 2023 12:01 am ETListen to article(2 minutes)JOHANNESBURG—African fintech companies have found creative ways to help the continent’s consumers spend their money. Traditional payments companies want in.Global payment giants, including Mastercard and Visa, are pouring billions of dollars into African companies that have powered a sharp expansion in e-commerce on the continent. Recent deals have focused on mobile-money operators, which allow users to send funds using simple cellphones, and platforms that facilitate such payments for merchants such as Uber Technologies, Netflix or Estée Lauder without relying on credit cards or bank accounts.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

19Oct

By adminNo Comments

Money

Visa, Mastercard Want a Slice of Africa’s Mobile Money

Oct. 18, 2023 11:00 pm ETListen to article(2 minutes)JOHANNESBURG—African fintech companies have found creative ways to help the continent’s consumers spend their money. Traditional payments companies want in.Global payment giants, including Mastercard and Visa, are pouring billions of dollars into African companies that have powered a sharp expansion in e-commerce on the continent. Recent deals have focused on mobile-money operators, which allow users to send funds using simple cellphones, and platforms that facilitate such payments for merchants such as Uber Technologies, Netflix or Estée Lauder without relying on credit cards or bank accounts.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8