Digital Transactions Authoritative, insightful and timely information for payments professionals
When it comes to payments between individuals, cash and checks are still wildly popular, even among Millennials, despite years of penetration by online and mobile methods. Indeed, 71% of consumers made at least one person-to-person payment with cash last year, and 56% did so with a check, according to a …
Read More »As Real Time Hits Prime Time, Early Warning And Fiserv Target Bill Payments, Deposits
The Federal Reserve may be shepherding a nationwide effort to bring real-time payments to the United States, but that doesn’t mean payments companies are marking time while that process unfolds. The latest development is Tuesday’s announcement that bank processor Fiserv Inc. will work with risk manager Early Warning Services LLC …
Read More »Visa Inc. Will Buy Visa Europe, But Can It Get From Europe What It Earns in the U.S.?
Ending months of speculation, Visa Inc. on Monday announced it will buy its European counterpart, London-based Visa Europe Ltd., in a cash, stock, and earn-out deal valued at $23.4 billion. “We’re delighted to be reuniting the Visa family,” said Visa Inc. chief executive Charles W. Scharf in discussing the acquisition …
Read More »Why PayPal Plans to Extend Its Fast-Growing Venmo Service Into Merchant Payments
Up to now, PayPal Holdings Inc.’s Venmo payments service has been strictly a mobile person-to-person product appealing largely to twenty-somethings, but within a year users will be able to pay with Venmo at PayPal merchants if the parent company’s plan works out as expected. PayPal disclosed Wednesday in its quarterly …
Read More »With Technology from VocaLink And FIS, TCH Sees a Faster Way to Real-Time Payments
With two key announcements this week, The Clearing House Payments Co. LLC has brought the finish line much closer in its run to build a U.S. real-time payments system. While the New York City-based company has not set a date for completion, senior executives told Digital Transactions News Tuesday TCH …
Read More »Chase Unveils Chase Pay, a Mobile Wallet That Will Work at Merchants Accepting CurrentC
JPMorgan Chase & Co. on Monday unveiled its Chase Pay mobile wallet and said the product will begin rolling out in the middle of next year. Chase also said its new wallet will be accepted at merchants belonging to the Merchant Customer Exchange LLC, a retailer-controlled consortium that has been …
Read More »Now That the Big Risk Shift Has Taken Place, Get Set for EMV Non-Compliance Fees
Now that merchant acquirers, and, by extension, merchants, are liable for certain kinds of fraud losses if the merchants aren’t prepared for EMV chip cards, acquirers are starting to put in place EMV non-compliance fees to cover their new risk exposure. One of the first to move on this is …
Read More »As It Prepares to Ship Devices, Startup Poynt Wins Key EMV And PCI Certifications
For merchants these days, laying hands on a payment terminal with the needed EMV certifications is hard enough. Finding a certified device with built-in intelligence is even harder. Against that backdrop, a Palo Alto, Calif.-based startup called Poynt Co. on Thursday announced its Poynt Smart Terminal is the first such …
Read More »Network Executives Tout EMV Chip Card Progress in Wake of Merchant Liability Shift
Two weeks after what has come to be regarded as the official start date for EMV chip cards in the United States, senior executives with the major card networks gave a largely upbeat progress report to an audience of acquiring-industry owners and managers last Thursday, while acknowledging that much work …
Read More »Banking Kingpin Chase Prepares an ‘Aggressive’ Push for Its Own Digital Wallet
Another 800-pound gorilla will soon be promoting a digital wallet, only this time it’s not a technology firm. It’s JPMorgan Chase & Co., a world leader in payment card issuance and merchant acquiring. “We’re launching our own wallet. You’ll be hearing a lot more about it,” Mike Passilla, chief executive …
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