July was a busy month in the payments space. We saw multiple rate increases, new products, new strategic partnerships, and landmark legislation passed.
Here’s a roundup of the most noteworthy headlines and payments news from July:
GENIUS Act Officially Signed Into Law
July 18th marked an important date for the payments industry when the Guiding and Establishing National Innovation for US Stablecoins Act (GENIUS ACT) was officially signed into law. This is the first federal regulatory framework for stablecoins in the US, which paved the way for stablecoin issuers to move forward with clarity.
We’ve already seen major players in the space making moves around this law—including Visa, Mastercard, Fiserv, Amazon, Walmart, JP Morgan, and even local governments.
Read more about how stablecoins are shaking up the payments industry here.
Shift4 Increased Rates
Shift4 introduced a new Month End Billing Fee of 0.02% on total payment volume, effective for July transactions.
Switching to daily billing would avoid this fee, but daily billing structures can be an accounting headache for merchants.
Learn more:
Breeze Increased Rates and Added New Fees
Breeze increased its flat-rate pricing from 2.54% + $0.15 per transaction to 2.69% + $0.15 per transaction.
This rate hike went into effect on July 1st, alongside a $0.10 increase to ACH transactions, a new $95 monthly location fee, and a new $26 activation fee.
Merchants processing integrated payments via OrthoFi and/or OrthoBanc are also affected by this increase, as Breeze is the backend processor for these companies.
Learn more:
Clover Announces PracticePay Powered by Rectangle Health
Clover is rolling out a new POS system specifically designed for small and medium-sized healthcare organizations. Clover PracticePay was developed with Rectangle Health, a processor that specializes in healthcare payments.
PracticePay will use RectangleHealth’s payment bridge technology to process payments via Clover hardware, while maintaining HIPAA and PCI compliance.
You can read the full press release here, and check out our Rectangle Health review for more insights about this processor.
Worldpay Expansion Targets Demand For Embedded Finance
Worldpay announced an expansion that targets the high demand for embedded finance products amongst small and mid-sized businesses.
To address this need, Worldpay is expanding its Worldpay for Platforms service to Canada and the UK, and further expanding throughout Australia.
Global Payments Renews Partnership With Banamex
Global Payments extended its long-standing partnership with Banamex (Banco Nacional de Mexico), one of the largest financial institutions in the country.
The partnership comes from Global’s EVO Payments division, processing over 900 million transactions via 250k POS systems throughout Mexico.
Mastercard is Leasing Clover Units to Small Businesses for $0.01
Mastercard is offering Clover POS devices to 1,000 small businesses for just $0.01 per month in rental fees.
Qualifying businesses can apply online before December 31st.
Full details and application form here.
Fiserv Reaches Multi-Year Strategic Partnership Deal With TD Bank
On July 23rd, Fiserv announced a multi-year strategic managed services partnership with TD Bank.
As part of the agreement, TD Merchant Solutions will use Fiserv’s technology (including Clover) for merchants relying on TD for payment processing.
JP Morgan to Charge FinTechs for Consumer Bank Data
JP Morgan plans to start charging fintech companies for access to consumer banking data, marking a significant shift in the open banking landscape.
Previously, many banks provided this data access for free through APIs, but this move from JP Morgan suggests other institutions may start monetizing these data services.
The Consumer Financial Protection Bureau ruled that banks could not charge for consumer data, but that regulation doesn’t go into effect until 2026. However, the CFPB is planning to repeal this open banking rule.
Exact fees currently remain unclear. But for payment aggregators like Plaid, it’s estimated that they’d have to pay $300 million annually in these new fees (representing over 75% of Plaid’s revenue from last year).
Clover Announces System Enhancement With Workforce Management Features From Homebase
Clover is enhancing its system to support integrated workforce management capabilities from Homebase.
Homebase is a small business platform designed for team management, and the Clover update is designed to help businesses manage employees, run operations, and improve efficiency from a single source of truth. Homebase features for things like time tracking and scheduling will be embedded directly into Clover’s web-based dashboard.
PayPal and Wix Expand Strategic Partnership
PayPal and Wix are expanding their strategic partnership—bringing more online payment options to merchants using Wix Payments.
Through a deeper integration, PayPal will now be available directly within Wix’s payments platform. Merchants will have the option to connect their PayPal business account and manage transactions from one dashboard, alongside other Wix payment activity.
Merchants will also have access to additional tools from PayPal, including Venmo and BNPL.
Fiserv 2Q25 Results
Fiserv reported its 2Q results this month. Highlights include:
- Organic revenue grew 8% (vs. 7% 1Q)
- Expected FY25 organic revenue guidance updated to ~10% (originally 10-12%)
- 30% revenue growth from Clover (vs. 27% 1Q)
- On track to hit $3.5 billion in Clover revenue for 2025
- Added 49 new financial institution merchant partners
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