Digital Transactions Authoritative, insightful and timely information for payments professionals
Recurring revenue from transaction-processing fees has been a staple of independent sales organizations and acquirers for decades. But amid a host of new competitors, the payment-processing industry finds itself wondering what its next steps may be. ISOs are squeezed on one side by large players, like First Data Corp. …
Read More »Retailer Beyond the Rack Signs Up for the MasterPass Online Wallet
Online retailer Beyond the Rack is among the latest retailers to accept MasterCard Inc.’s MasterPass digital wallet service on its e-commerce site, the card brand recently announced. Beyond the Rack is a members-only online retailer that sells apparel and accessories. MasterPass is a wallet platform enables mobile payments by …
Read More »TNS Partners with AJB Software To Bring Outsourced Payment Services to Large Retailers
Large merchants that work with AJB Software Design Inc. to handle their payments-technology integration have a new option to use for outsourcing their payment needs. They can use TNSPayDirect, a new service from Transaction Network Services Inc., which provides access to an AJB retail transaction switch. AJB’s retail transaction …
Read More »M-Payments Startup CardFree Scores First Merchant with Sonic Drive-In
CardFree, a mobile-wallet startup founded by payments-industry veterans with experience in mobile-payments apps, says its first merchant partner is Sonic Drive-In, a quick-serve restaurant chain with more than 3,500 locations. CardFree features a geo-location app to identify the consumer’s proximity to the merchant for marketing purposes. The company, which …
Read More »Analysts See Smooth Transition at Global Payments As Garcia Gives Way to Sloan
By Kevin Woodward The appointment on Tuesday of Jeffrey S. Sloan as the new chief executive of payment processor Global Payments Inc., succeeding long-time chief executive Paul Garcia, surprised hardly anyone. Sloan, who joined Global Payments as president in 2010, has a history with the company. Garcia, who was named …
Read More »Mobile Purchases Claim a Rapidly Rising Share of E-Commerce Traffic, Gateway Study Shows
By Kevin Woodward Smart phones and tablets continue to garner a larger share of payments as consumers increasingly use the mobile devices for more than talking and sending text messages, finds a survey from Amsterdam-based global gateway provider Adyen Inc. In the Adyen Global Mobile Payments Index, covering May through August, …
Read More »Post-VeriFone, Bergeron Runs a $500 Million Warchest To Buy Payments Companies
By Kevin Woodward Six months after leaving point-of-sale terminal maker VeriFone Systems Inc., Douglas G. Bergeron is leading a new enterprise targeting financial-services and payments companies for acquisition. Dubbed Opus Global Holdings LLC, the new company has $500 million at its disposal to buy companies. Bergeron is collaborating …
Read More »Selection of Galant As New Boss Suggests VeriFone Will Keep Spotlight on Services
VeriFone Systems Inc. on Monday named Citigroup executive Paul Galant as its chief executive, ending a six-month quest for a permanent top executive. Galant replaces interim chief executive Richard McGinn, who assumed that role in March when long-time chief executive Douglas G. Bergeron left the San Jose, Calif.-based point-of-sale terminal …
Read More »By Snagging Official Payments, ACI Bolsters Client Base, Recurring Revenue
ACI Worldwide Inc.’s $109 million deal to buy Official Payments Holdings Inc. is a bid to grow its transaction volume and pairs well with its January purchase of Online Resources Corp., analysts suggest. Official Payments is a processor that specializes in online payments to government entities. ACI Worldwide is paying …
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