• Total System Services Inc. (TSYS) reported that it is talking with the Federal Trade Commission to settle the FTC’s November lawsuit accusing TSYS’s NetSpend prepaid card unit of deceptively marketing reloadable prepaid cards. TSYS took a $13 million charge in the fourth quarter in connection with the settlement talks. • Newtek …
Read More »Tim Hortons Getting Order-Ahead App and other Digital Transactions News briefs
• A survey released by RestaurantOwner.com, a resource enterprise for independent restaurant owners, found that the average cost of a restaurant POS system is $13,344, compared with $18,000 in 2012. Only 10% of the 1,190 respondents said they use pay-at-the-table devices, and only 31% used EMV-compliant systems. • Restaurant Brands International, parent company …
Read More »NCR Silver Gets an Update That Reduces Needed Taps And Eschews the Home Page
By Kevin Woodward@DTPaymentNews NCR Corp. on Tuesday unveiled a redesigned app for its NCR Silver iPad-based point-of-sale system that eliminates 33 taps from the transaction process and skips the home page in favor of a fly-out menu.
Read More »Most Pay Bills Online and other Digital Transactions News briefs
• Fifty-six percent of all bills in the U.S. are paid online at a biller, bank, or third-party site, according to data from ACI Worldwide and Aite Group. Of these, 72% are now paid at biller sites. • Digital-payments company Proxama PLC has agreed to provide payments services to clients of payment …
Read More »DiningData Marks $1 Billion in Processing Volume and other Digital Transactions News briefs
• Processing-software vendor Womply has launched an analytics tool called Retention Intelligence to help acquirers identify merchants likely to leave the portfolio. • A 2-year-old startup called diningData, which processes payments and analyzes data for restaurants, announced it is now handling $1 billion in annual volume. The company is a division of Hadfield …
Read More »Dwolla Lines Up $6.8 Million in Funding and other Digital Transactions News briefs
• Payments provider Dwolla Inc. announced a $6.85 million round of funding led by Union Square Ventures and Foundry Group. The funds will be used to expand sales and account-management operations at the company’s Des Moines, Iowa office. Dwolla also said it is moving its white-label products into a new collection of application …
Read More »Twitter Abandons its Buy Button and other Digital Transactions News briefs
• Mastercard Inc. and investor and philanthropist George Soros announced plans “to explore private-sector solutions to societal challenges” by possibly creating a so-called social enterprise called Humanity Ventures that will apply commercial strategies to address such problems as joblessness and lack of access to health care and education. Soros might …
Read More »Western Union Will Pay $586 Million to Settle Feds’ Claims of Lax Anti-Fraud Controls
The Western Union Co. will pay $586 million to the federal government to reimburse consumers victimized by fraud as a result of the company’s allegedly lax supervision of agents and anti-fraud and money-laundering controls. The settlements announced Thursday are a result of investigations that covered payments involving the smuggling of …
Read More »Why Merchants are looking to their PSP for Fraud Protection
Fraud is on the move and your online merchants need help. Fraudsters have more tools and better data to steal from merchants than ever before. Online Processors, Gateways, and eCommerce Platforms play a pivotal role in detecting and deflecting fraud before it hurts their clients. In response to the ever-changing landscape …
Read More »ACI Makes Real-Time Connections and other Digital Transactions New briefs
• The U.K.’s Competition and Markets Authority has accepted in principle a number of proposals Mastercard Inc. has made to dispel concerns the agency expressed earlier this month about the planned $920 million merger of Mastercard and the U.K.-based payments-technology firm VocaLink. The CMA had been concerned that the merger would hand Mastercard …
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