Digital Transactions Authoritative, insightful and timely information for payments professionals
• Citigroup Inc. became the latest bank to introduce a proprietary mobile wallet, in this case Citi Pay, which will launch later this year in Singapore, Australia, and Mexico, and in the U.S. early next year. Working with MasterCard Inc.’s Masterpass digital-payments service, Citi Pay provides online and in-app payment capability, as well as contactless payment in stores for users of Android devices.
• Payments-technology provider Cardtek said it will launch a product called Mobile Service Manager that will allow processor DC Payments to offer debit card payments through mobile wallets in Canada. The capability will be integrated with DC Payments’ card-management service and serves as a gateway linking DC Payments and token service providers, including Canada’s Interac network.
• Prepaid card provider Green Dot Corp. said purchase volume on its cards rose 2% year over year in the third quarter to $3.76 billion.
• Meta Financial Group Inc. and its MetaBank subsidiary, a big prepaid card issuer, signed a definitive agreement to buy the assets of privately held Specialty Consumer Services LP, which provides advances on tax refunds and other credit services. Terms of the deal include $15 million payable at closing, half in cash and half in Meta stock, and additional consideration of up to $35 million after closing if certain performance goals are met.
• Merchant processor Global Payments Inc. said it is supporting Apple Pay within a mobile app offered by ParkNShop, a supermarket chain in Hong Kong.
• Terminal maker PAX Technology introduced a new mobile point-of-sale device, the D220 MiniPOS.
• Payment card manufacturer CPI Card Group Inc. announced that more than 1,100 banks and credit unions use its CardOnce instant-issuance service to issue EMV-enabled credit and debit cards.
• The American Express Co. Holiday Growth Pulse survey of more than 1,500 small and mid-size businesses found that 59% said holiday sales will be stronger compared to last year, but 34% said sales would be about the same.
