July 28, 2020
Acquiring, ATMs, Competitive Strategies, Credit Cards, Debit Cards, E-Commerce, Electronic Checks, Issuing/Originating, Marketing, Mergers & Acquisitions, Mobile Commerce, Real-time Payments, Transaction Processing
Mastercard Inc. is offering some concessions in its bid to win approval from European Union competition authorities for its planned $3.2 billion acquisition of major parts of Denmark-based payment processor Nets Group, Reuters reported.California’s Department of Motor Vehicles selected payments provider Forte Payment Systems to oversee the DMV’s e-check verification process.Digital-banking technology provider Tyfone Inc. has …
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July 27, 2020
Fraud & Security, Near-Field Communication (NFC), Transaction Processing
The ability of hackers to disrupt connected devices was on display over the weekend with Garmin Ltd., a major purveyor of fitness trackers, smart watches and related tech gear, including products that can make contactless payments, reporting service interruptions that some observers say have been caused by a ransomware attack. …
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July 27, 2020
Acquiring, Competitive Strategies, E-Commerce, Issuing/Originating, Mergers & Acquisitions, Near-Field Communication (NFC), Point-of-sale, Prepaid Cards, Pricing, Transaction Processing
Payment processor Paysafe said it has a deal to acquire the gateway Openbucks for an undisclosed price.The Missouri Department of Social Services said it now allows child-support payments via Apple Pay, Google Pay, and PayPal.Mogo Inc., a Canadian fintech, made publicly available MogoSpend, a so-called spending account that comes with a cobranded Visa Platinum prepaid …
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July 27, 2020
Competitive Strategies, Digital Currency, E-Commerce, Issuing/Originating, Marketing, Mobile Commerce, Pricing, Transaction Processing
The big card networks have been introducing a one-click e-commerce checkout and plan to take it overseas by next year, but now a Ripple Labs Inc. executive may beat them to the punch with a single-click capability for Ripple’s XRP cryptocurrency. In what he characterizes as a “personal project,” Ripple director …
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July 24, 2020
Acquiring, Competitive Strategies, Credit Cards, Debit Cards, Issuing/Originating, Marketing, Point-of-sale, Transaction Processing
American Express Co. felt the full brunt of the global Covid-19 pandemic in the opening weeks of the second quarter, and on Friday it released numbers showing just how hard the swoon in travel and other key sectors hit the company. Executives also took time on a conference call with …
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July 24, 2020
Acquiring, ATMs, Competitive Strategies, Debit Cards, Digital Currency, Mergers & Acquisitions, Point-of-sale, Transaction Processing
Payment processor Repay Holdings Corp. acquired cPayPlus LLC, a provider of accounts-payable automation technology. Repay paid $8 million at closing and could pay $8 million more in 2021’s third quarter depending on cPayPlus’ achievement of growth targets.After a limited release in May, a 3-year-old challenger bank called Dave announced it will issue debit cards …
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July 23, 2020
Acquiring, Competitive Strategies, E-Commerce, Mobile Commerce, Transaction Processing
Payments provider Citcon USA LLC said early Thursday it is unveiling plugins that will allow e-commerce platforms like Commerce Cloud, Magento, Salesforce, Shopify, WooCommerce, and others to offer merchants the ability to accept Alipay, WeChat Pay, and China UnionPay, as well as credit cards, without coding. The development represents a …
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July 23, 2020
Competitive Strategies, E-Commerce, Marketing, Mobile Commerce, Pricing, Transaction Processing
Expanding on an initiative it began April that offered free listings for some merchants, search-engine leader Google on Thursday announced a test that charges zero-percent commissions to online sellers when they sell a product through its Shopping Actions service. In addition, sellers can use Shopify Inc.’s payment service as well …
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July 23, 2020
Acquiring, Competitive Strategies, Credit Cards, Debit Cards, E-Commerce, Issuing/Originating, Marketing, Near-Field Communication (NFC), Transaction Processing
Some 75% of U.S. cardholders prefer contactless cards to card swipe, mobile payment, inserting a chip card, and cash, according to a survey of 1,000 cardholders by card-technology specialist Entrust Datacard.Alliance Data Systems Corp., a provider of private-label card programs, reported a 27% year-over-year drop in revenue for the second quarter to …
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July 22, 2020
Acquiring, Credit Cards, Debit Cards, Issuing/Originating, News, Transaction Processing
Discover Financial Services on Wednesday became the first major payment network operator to report its second-quarter performance, and things weren’t pretty on the credit card side in the wake of the Covid-19 pandemic. Volumes on Discover’s Pulse debit network, however, rose by double digits. Taking the biggest hit was the …
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July 22, 2020
Acquiring, E-Commerce, Fraud & Security, Mobile Commerce, Transaction Processing
While merchants, banks, and payments providers may be tempted to blame sharply rising fraud rates on the pandemic, fraud losses were rising before Covid-19 set in and will continue to rise for as far as the eye can see, according to experts behind a major fraud report released this week. …
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July 22, 2020
Competitive Strategies, E-Commerce, Marketing, Mobile Commerce, Transaction Processing
The installment-payment movement has gained the big e-commerce services provider Shopify Inc. as a convert with Wednesday’s announcement that Shopify will offer a credit option to its U.S. customers through Affirm Inc. San Francisco-based Affirm, an online credit-services provider, said approved Shop Pay customers at checkout will be able to …
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July 22, 2020
Acquiring, Competitive Strategies, Debit Cards, Fraud & Security, Marketing, Mobile Commerce, Point-of-sale, Prepaid Cards, Real-time Payments, Transaction Processing
Sales at small businesses included in the CardFlight Small Business Impact Report for July 22 experienced a 2.6% increase in sales week-over-week and are 25% above the baseline week of March 2-8. Food and drink sales were up 4.5% for the week and retail sales increased 4% week-over-week.Wells Fargo & Co. launched My …
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July 21, 2020
Competitive Strategies, Credit Cards, E-Commerce, Issuing/Originating, Marketing, Point-of-sale, Transaction Processing
The hits merchants are taking from the Covid-19 pandemic were apparent in the second-quarter financial results the big retail and cobranded card issuer Synchrony Financial reported Tuesday, results which include a 19% year-over-year drop in purchase volume. Stamford, Conn.-based Synchrony posted purchase volume of $31.2 billion versus $38.3 billion in …
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July 21, 2020
Acquiring, Competitive Strategies, Marketing, Point-of-sale, Transaction Processing
Cloud-based point-of-sale systems continue to gain share among merchants. In the latest news, Revel Systems said Moe’s Southwest Grill will install its cloud-based point-of-sale system in its more than 700 restaurants, and NCR Corp. said the Bashas Family of Stores grocery chain is rolling out NCR Emerald at all of …
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July 21, 2020
Acquiring, ATMs, Competitive Strategies, Credit Cards, Debit Cards, E-Commerce, Electronic Bill Payment, Marketing, Point-of-sale, Pricing, Transaction Processing
Coffee king Starbucks Corp. announced new options beginning this fall for earning loyalty points, or stars, in the Starbucks Rewards program without paying with a registered Starbucks physical card or card loaded into the Starbucks mobile app. The options to be available at company-owned stores in the United States and Canada will …
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July 20, 2020
Acquiring, Competitive Strategies, E-Commerce, Marketing, Mergers & Acquisitions, Mobile Commerce, Mobile Wallets, Pricing, Transaction Processing
Free of the restraints of a legal agreement with PayPal Holdings Inc., eBay Inc. said early Monday it will now start on a global expansion of its 2-year-old managed-payments program. The program has already delivered $4.7 billion in total payment volume in the United States and Germany, the company said, …
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July 20, 2020
Acquiring, ATMs, Competitive Strategies, Credit Cards, Debit Cards, E-Commerce, Issuing/Originating, Marketing, Mobile Commerce, Point-of-sale, Transaction Processing
Cryptocurrency platform Wirex has become the first such entity to obtain a principal membership in the Mastercard network. The move comes as Mastercard Inc. announced an expansion of its cryptocurrency program, which aims to make it easier for crypto card companies to market their products. Wirex also announced recently it has hired long-time …
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July 20, 2020
Acquiring, Competitive Strategies, Credit Cards, Debit Cards, E-Commerce, Issuing/Originating, Mergers & Acquisitions, Mobile Commerce, Transaction Processing
The global retail-payment networks Mastercard and Visa are on a tear, acquiring and investing in adjacent payment-opportunity space in networks that can leverage and reinforce their existing franchises. Their traditional payment schemes are dominant worldwide and near indestructible. While for the foreseeable future they could grow on autopilot, to their …
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July 17, 2020
Acquiring, Mobile Wallets, Near-Field Communication (NFC), News, Smart Cards, Transaction Processing
With its core ride-hailing business ravaged by the Covid-19 pandemic, Uber Technologies Inc. has been looking to move further into adjacent transportation markets, including mass-transit ticketing and payments. This week, the company said it had bought Routematch Software, a 20-year-old, Atlanta-based developer of systems that manage trip booking and ticketing, …
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