Looking to switch payment processors to save on fees?...  

Payment Processing Industry News — January 2025

by

Jan 29, 2025

Payment Processing Industry News — January 2025

Every month, I round up the biggest stories in the payments world so our readers can stay informed and learn about what’s happening across the industry. Here’s the latest from January:

Elavon is Increasing Processing Rates

Elavon recently announced several new rate increases that go into effect on 2/1/2025. 

The most significant is its 0.81% + $0.25 per transaction increase on all Visa, Mastercard, and Discover cards. 

But they’re also increasing authorizations by $0.25, settled batches by $0.40, international transactions by 0.60%, and non-qualified rates by 0.40%. 

For more information, check out our Elavon rates page and our Elavon review

New TSYS Rate Increase

TSYS also implemented a rate increase on select accounts. This went into effect on January 1, 2025. 

  • 0.90% increase to the Qualified Base Discount Rate
  • $0.20 increase to the Transaction Network Access Fee
  • 0.40% increase to Settlement Funding Fee
  • $0.20 increase to MC Excessive Authorization Fee
  • $0.0007 increase to ASSOC Kilobyte Base II Fee
  • $0.06 increase to Visa Misuse of Authorization Fee

See the full history of TSYS rate increases here, and learn more about this processor from our TSYS review

Verifone Partners With FreedomPay on Global Commerce Initiative

Verifone and FreedomPay announced an integration of their two payment ecosystems. This new partnership is designed to provide a complete commerce stack for sellers worldwide.

Merchants using FreedomPay will now have access to Verifone’s payment devices and vice versa.

Here’s the full press release from FreedomPay on the announcement. 

Nuvei Announces Two New Strategic Partnerships

Nuvei is a Canadian fintech company that regularly appears in our monthly news roundups. This month, they announced two separate yet equally important strategic partnerships in the payments world.

The first announcement is a partnership with Gaming Innovation Group—a company that provides technology in the online gaming space.

Operators in the online gaming industry can now leverage Nuvei’s payment technology in 200+ countries worldwide, providing 720 alternative payment solutions with a focus on instant payments amongst gamers.

Nuvei is also partnering with Outpayce from Amadeus, which integrates new payment technology into Outpayce’s travel payment infrastructure. 

Adyen Rolls Out Uplift, an AI-Powered Payments Optimization Suite

Adyen just launched a new AI-powered payments system called Uplift. 

The initial pilot program was tested by 60 enterprise organizations, including NordSecurity, Fubo, Indeed, and Patagonia. 

During the pilot phase, Adyen found that Uplift helped increase conversions by up to 6% compared to legacy systems. This new feature will provide Adyen’s customers with data-driven recommendations, new payment configurations, improved fraud management tools, and the ability to decrease costs associated with accepting payments. 

Toast Continues its Commitment to the Food and Beverage Industry

Toast’s POS has become a name that’s almost synonymous with restaurants and bars. 

They’re continuing their commitment to the food and beverage industry by offering extended technology for convenience stores, grocers, and bottle shops. 

Businesses in this space can leverage Toast’s tools for things like inventory management, SKU management, faster checkouts, barcode scanners, online ordering, and more. 

Read More: Toast Review

Klarna Agrees to Strategic Distribution Partnership With Stripe

Klarna, a BNPL fintech company based in Sweden, has just agreed to a new distribution partnership with Stripe.

The deal will give merchants using Stripe access to Karna’s BNPL plans in 26 countries.

This is a timely deal, as Klarna is currently preparing for an IPO on the NYSE.

Bluefin Announces Integration With Visa Platform Connect to Help Fight Fraud

Bluefin is integrating its payment gateway with Visa—specifically, Visa Platform Connect.

This integration is built to provide secure and fast connections for acquirers using Visa, while also providing multi-currency payment processing through Visa and other card networks. 

Bluefin will also be using Cybersource Decision Manager to help fight fraud in the retail space while allowing them to process more orders from different channels and regions. 

Read More: Bluefin Review

Visa Announces Multi-Year Deal With Walt Disney EMEA Markets

Visa and The Walt Disney Company just announced a strategic alliance for payments in the EMEA region. 

This alliance makes Visa the official payment provider of Disneyland Paris, Disneyland Store, and Disney Theatrical Group across Europe, the Middle East, and Africa. 

Disney customers using Visa will be offered unique benefits, like pre-sales, priority bookings, and special offers on merchandise. 

JP Morgan Announces New Proprietary POS Terminals

JP Morgan is rolling out two new payment terminals—Paypad and Pinpad. Both of these terminals integrate with biometric authorization for in-store payments. 

While the tools were announced this month, they’re not yet available for businesses (and pricing information hasn’t been released either).

JP Morgan expects them to be ready in 2H 2025 in the US, with an international launch date to be announced soon thereafter. 

Fiserv Announces New CEO

Last month I covered a story about the Trump administration’s appointment of Fiserv CEO Frank Bisignano as the new Commissioner of the Social Security Administration. 

Since that story broke, Fiserv has been looking for a qualified replacement for Bisignano. 

Fiserv officially announced Michael P. Lyons to be their new CEO on January 23, 2025—with a start date of January 27, 2025. 

Lyons is currently the President of PNC Financial Services Group. 

Bisignano will stay with Fiserv until June 30, 2025, and work alongside Lyons (unless his duties with the SSA force him to leave earlier). Lyons will officially take over full CEO duties immediately upon Bisignano’s departure. 

Subscribe to our newsletter to get all the biggest payment news delivered straight to your inbox. In case you missed it, here’s a link to last month’s stories.

matt rej
By Matt Rej

Matt has been working in the financial world for over 7 years and after quickly learning the world of payments, for the past 5 years Matt has been exposing the industry for what it truly is. Matt oversees the sales team for MCC, developing new employees and educating enterprise to brick and mortar customers on how they can cut costs within the payments world. Matt has a Bachelor’s Degree in Business Administration from Bryant University and currently resides in South Boston, Massachusetts.

More Articles by Matt »

Are You Paying Too Much on Your Credit Card Processing Fees?


Get a Free Audit & Analysis and Find Out How Much Merchant Cost Consulting Can Save You.

"*" indicates required fields

Max. file size: 68 MB.
Upload a copy of a recent statement, and we can immediately start looking for excessive fees.
This field is hidden when viewing the form
This field is hidden when viewing the form
This field is for validation purposes and should be left unchanged.

Join the Discussion

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *

Follow Us

Archives

Pin It on Pinterest