Digital Transactions Authoritative, insightful and timely information for payments professionals
• PayPal Holdings Inc. plans to cease operations in Turkey in the next week because financial regulators there rejected its license applications, apparently because it does not keep its IT systems in Turkey, Fortune reported.
• Some 88% of 400 respondents to a RemoteDepositCapture.com poll about risk said the benefits of remote deposit capture “far outweigh” any risks or costs, up from 81% who expressed a similar opinion in 2015.
• Digital-payments company Payveris LLC raised $7.5 million in its latest funding round. Payveris has 180 bank and credit-union clients and 21 financial technology partners.
• Processor Jack Henry & Associates Inc. teamed up with Inlet LLC to bring digital document delivery to its 4,000 financial-institution eBill clients that offer bill-payment services to their customers; Inlet is a joint venture of Pitney Bowes and Broadridge Financial Solutions.
• MBNA, Bank of America Corp.’s United Kingdom credit card unit, now supports Android Pay.
• Square Inc. rolled out an installment pricing plan to encourage merchants to accept chip cards and contactless payments; the processor will charge merchants $1 per week for 60 weeks for its EMV and near-field communication (NFC) terminal that normally sells for $49.
• The Smart Payment Association, an organization for the smart card industry, released the “Is there a case for the regulation of tokenization services” paper.
• Risk-management and compliance provider Coalfire Systems Inc. named Patrick Kehoe, a former Arxan and Siemens Enterprise Communications executive, as its chief marketing officer.
• A server problem left Boston-area commuters unable to pay transit fares with credit or debit cards in stations or online for several hours Tuesday, although they still could pay at retail outlets, the Massachusetts Bay Transportation Authority reported.
