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, …
Read More »Eye on Mass Transit: Uber Buys Routematch; Visa Contactless Rebounds; Philly Gets Mobile Wallets
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, …
Read More »Covid-Fighting Stimulus Programs Help Deliver an Unexpected Growth Surge for the ACH
Thanks to federal programs to deliver stimulus funds to businesses and individuals, the second-quarter slowdown automated clearing house governing body Nacha expected due to Covid-19 didn’t happen. In fact, the massive ACH network saw year-over-year growth in the April-through-June quarter of 7.9%, Nacha reported late Wednesday. The second quarter’s growth …
Read More »EBay’s Deal With PayPal Expires Soon. What Does That Mean for Managed Payments—And eBay Sellers?
With the expiration of a major agreement with PayPal Holdings Inc. just a few days away, eBay Inc. is charting a new course in payments. But at least some merchants are hoping the e-commerce giant will address outstanding questions about how payments will be handled in the new era. According …
Read More »‘Tens of Thousands of Dollars’ in Fraud for Operators That Don’t Upgrade Gas Pumps to EMV, a Report Estimates
When the big card networks this spring postponed until April 2021 the fraud-liability deadline for EMV chip cards at gas pumps, the retail fuel industry heaved a huge sigh of relief. But now estimates are emerging that indicate even relatively small gas-station operators that don’t enable their pumps for EMV …
Read More »The Big Four Networks Start Prepping Click to Pay for a Global Expansion
With consumers shopping online in greater numbers, the four major card networks are preparing to take their new single-click checkout technology international. American Express Co., Discover Financial Services, Mastercard Inc., and Visa Inc. said in a joint announcement Wednesday they are “beginning technical preparations” to launch the technology, Click to …
Read More »Merchants Are Rebooting, So ISOs Look to Apps And Loyalty to Bring Customers Back
As businesses start to reopen, independent sales organizations and other payment providers are rolling out programs suited to the new reality faced by both proprietors and their customers. The latest example comes from VizyPay, which on Tuesday announced a service it says will help merchants attract old customers and pull …
Read More »New Data Show a Rebound for Restaurants And Hotels As States Wrestle With Covid-19
Though Covid-19 still casts a long shadow over a number of U.S. states where early reopenings have led to a resurgence in coronavirus cases, data released Monday indicate merchant volume is climbing rapidly across industries. The positive trend includes the hard-hit hospitality sector, according to the latest numbers. Merchants in …
Read More »BNY Mellon Works With Early Warning to Enable Real-Time Account Validation for Real-Time Payments
With real-time payments comes real-time risk, and now banks and their technology vendors are attacking the problem of how to make sure funds moving in the blink of an eye are flowing to the proper accounts. The latest move comes from banking power BNY Mellon, which on Thursday said it …
Read More »How the Pandemic Has Hastened Small Merchants’ Conversion to Contactless And Online Channels
Evidence continues to accumulate that the Covid-19 pandemic is not only boosting contactless and online payments, but doing so in historically short order. Some 48% of small and medium-size merchants reported in mid-June that they had observed an increase in the number of consumers either using contactless payments or asking …
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