• In a bid to reach cash-only customers, Amazon.com Inc. launched Amazon Cash, a service that gives users a barcode they can store in their smart phone or print and bring to a participating store to add cash to their Amazon balance. Participating stores include CVS, Speedway, Kum & Go, and …
Read More »National Interest Rears in Ant’s MoneyGram Bid and other Digital Transactions News briefs
• China-based Ant Financial Services Group’s $880 million bid for wire-transfer provider MoneyGram International Inc. is generating increasing opposition in Congress on national-security grounds, according to press reports from Washington. U.S.-based Euronet Worldwide Inc. last month submitted an unsolicited $1 billion bid for MoneyGram. • Avangate, a subscription-management and e-commerce platform, announced …
Read More »The Risky World of Payments Gets Riskier
The bad news about payments risk just keeps on coming. The Anti-Phishing Working Group Inc. reported last month that phishing attacks reached an all-time high in 2016, totaling 1,220,523. That was up fully 65% over 2015, the group says in its latest quarterly report. Another way to look at the …
Read More »Now There’s an API for Same-Day ACH Processing
When the nation’s automated clearing house network introduced same-day settlement in September, it was only a matter of time before an application programming interface became available to simplify faster clearing. In March, that day arrived with Dwolla Inc.’s announcement that it was commercializing a same-day ACH API. The code, which …
Read More »Merchants Take Another Look at Decoupled Debit
Don’t look now, but decoupled-debit programs may be on the verge of a comeback as merchants look for ways to circumvent payment networks and spur loyalty among consumers. That’s the take from a new report, “Decoupled Debit: The Start of Mainstream Adoption?” issued by Maynard, Mass.-based Mercator Advisory Group Inc. …
Read More »Apple Pay Victory in Australia and other Digital Transactions News briefs
• CORRECTION: The March 30 issue of Digital Transactions News mischaracterized the business in which eProcessing Network LLC engages. It is a payment gateway. DTN regrets the error. • In a victory for Apple Inc. and its Apple Pay mobile-payments service, the Australian Competition and Consumer Commission denied a request from four …
Read More »More About Rosen Hotels Breach And Other Digital Transactions News Briefs
A data breach at Rosen Hotels & Resorts last year could cost the company more than $2.4 million in payment card network fines and other expenses, according to Rosen’s insurance company, the Orlando Sentinel reported.
Read More »Mastercard Buys NuData Security And Other Digital Transactions News Briefs
• Mastercard Inc. has agreed to acquire NuData Security, whose technology identifies users from their online, mobile-app, and smart-phone interactions. Terms were not disclosed. • Fair Isaac Corp., otherwise known as FICO, said it detected 70% more compromised debit cards at U.S. ATMs and point-of-sale terminals in 2016 than it did …
Read More »Square Launches in the U.K. And Other Digital Transactions News Briefs
Square Inc. launched in the United Kingdom, its fourth national market outside the United States and its first in Europe (it already operates in Canada, Japan, and Australia). While the U.K. foothold gives the firm a base from which to expand within the European market, it did not indicate specific …
Read More »MoneyGram’s Confidentiality Agreement With Euronet And Other DTN News Briefs
• MoneyGram Inc. has entered into a confidentiality agreement with rival Euronet Worldwide Inc. to further consider Euronet’s unsolicited offer to acquire MoneyGram, which had previously entered into an agreement to be acquired by Ant Financial Services Group. • Merchant processor Total Merchant Services announced an expanded collection of application …
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