The subject of faster payments has been in the news almost continually for months now, but apparently awareness of the subject, and in some cases adoption, remains lower than expected among the financial institutions that will be depended on to implement speedier settlement. That’s if survey results released this week …
Read More »Not Quite 3 Years Old, Visa Checkout Reaches 20 Million Users, Adds Merchants
Visa Inc.’s Visa Checkout online payment service now claims more than 20 million enrolled accounts, the payments giant announced Thursday. The service, which launched in July 2014, also added new merchants, among them major retailers and service companies including Wal-Mart Stores Inc. and its Sam’s Club unit, Avis Budget, and …
Read More »In a Business That ‘Requires Scale,’ Avangate Swallows 2Checkout And Eyes More Deals
For a company looking to grow via acquisitions, the increasing complexity of the payments business can be an advantage. That’s what Atlanta-based Avangate Inc. is banking on. On Friday, the online processor for digital goods clinched a deal to acquire 18-year-old e-commerce gateway 2Checkout.com Inc., and its appetite is hardly …
Read More »Investor Interest in Bitcoin And Blockchain Cools, Signaling Possible ‘Caution’
The price of Bitcoin may have gotten hot in recent months, but investor interest in Bitcoin and blockchain startups could be cooling off. The population of unique investors pouring money into companies dealing in the cryptocurrency and its underlying infrastructure fell 27% last year to 217, according to the latest …
Read More »A Supreme Court Decision Favors Merchants in Latest Round in Battle Over Surcharging
Merchants won a skirmish on Wednesday in their long-simmering battle with the card networks over acceptance costs with a decision by the U.S. Supreme Court to void a lower-court ruling that upheld a state law banning credit card surcharging. The decision, in which all eight Justices concurred, sends the case …
Read More »A Supreme Court Rebuff Sends a Massive Credit Card Interchange Case Back to Brooklyn
The U.S. Supreme Court on Monday heightened the uncertainty surrounding crucial payment card rules and practices by refusing to hear an appeal of a lower-court decision last summer that threw out a $5.7 billion antitrust settlement. The top court’s decision will likely lead to years of continuing litigation and negotiation, …
Read More »Despite the Perils of Passwords, Adults in All Age Groups Remain Wedded to Them
Pundits have predicted the demise of the password for years, yet the simple user-name-and-password combination lives on, frustrating security pros and helping to fuel a spiraling epidemic of data breaches. The reason for the password’s longevity lies in its familiarity compared to newer, more effective authentication methods, says a report …
Read More »On a Growth Trajectory, Amazon Pay Looks To Go ‘Beyond the Button’ in 2017
Amazon.com Inc. announced an integration this week with an e-commerce platform called BigCommerce for its Amazon Pay service, but the company also clearly entertains big ambitions for the payment product it organized as a business in 2015. For now, Amazon Pay is on an upward trend. Some 33 million consumers, …
Read More »‘Tipping Point’ Has Arrived As More Payments Shops Open Skunk Works to Outsiders
If it seems payments networks and processors are opening up to outside developers right and left these days, it may be because they are. “I don’t know when the tipping point was, but it feels like it was over the last 12 months,” says Ben Milne, chief executive of Des …
Read More »First Data Agrees to Acquire Acculynk, a Pioneer in PIN Debit for Web-Based Transactions
The idea of allowing consumers to use PIN debit cards to pay online merchants has been a tough sell in the payments business, but observers hope a deal announced Thursday may give it a much-needed boost. Processing kingpin First Data Corp. said it will acquire Acculynk Inc., a 9-year-old Atlanta-based …
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