Acquiring

By Jim Daly@DTPaymentNews It’s in its infancy, but the Internet of Things, or IoT, will represent a $14 billion revenue opportunity globally by 2020 for payments firms smart enough to capitalize on it, according to research firm IDC Financial Insights. “That is a very conservative estimate,” James Wester, research director …

• Merchant acquirer Worldpay brought its Worldpay Total integrated payments platform to the U.S.; Worldpay introduced the platform in the United Kingdom in November 2014 and extended it to European e-commerce merchants earlier this year. • U.S. Bancorp, owner of merchant acquirer Elavon, posted $412 million in merchant-processing revenues in …

By Jim Daly@DTPaymentNews The loss of its cobranded card and exclusive credit card acceptance relationship with Costco Wholesale Corp. hit American Express Co. hard in the third quarter, but AmEx’s chief financial officer on Wednesday said brighter days lie ahead as the company builds new business. The quarter ended Sept. …

• Bank of America Corp. said its debit card purchase volumes totaled $71 billion in the third quarter, up 2.5% from $69.3 billion a year earlier. U.S. credit card purchase volume increased 2% to $57.6 billion. BofA said it now has 21.3 million mobile-banking users, a 15.8% increase from 18.4 …

• Payments provider TransFirst, a unit of Total System Services Inc. (TSYS), and Raintree Systems, which provides specialized practice-management software, formed a partnership that sees TransFirst as the integrated payments provider in Raintree’s software. • Following its decision earlier this week to halt production, sale, and exchange of its troubled …

By Kevin Woodward@DTPaymentNews Fuzse, a new payments company targeting merchants that want seamless payment flows, is embracing software developers and independent software vendors as a way to reach them. The Dallas-based company, founded by Lane Conner, a former executive at First American Payment Systems L.P., Century Payments, and most recently …

By Kevin Woodward@DTPaymentNews Just a week into the fourth quarter, merchants and payments companies already are preparing for the busy holiday-shopping season. American Express Co. marks its seventh annual Small Business Saturday—Nov. 26—with the debut of the Shop Small Studio at ShopSmall.com. The service provides merchants with Web-site badges, flyers, …

• Office-supply giant Staples Inc. has begun accepting Apple Pay on its mobile Web site, m.staples.com. Staples early on began accepting Apple Inc.’s mobile wallet in its stores and on its app. Apple recently made the service available for browser-based payments using Safari. • More than half of consumers believe …

• The Independent Community Bankers of America trade group submitted a faster-payments proposal to the Federal Reserve’s Faster Payments Task Force; developed with North American Banking Co., the ICBA proposal includes a white-label mobile application and a payments directory to enable transaction settlements through the automated clearing house network’s new …

• Vantiv Inc. has agreed to provide processing services to McCoy Federal Credit Union in central Florida. Services include ATM, debit, and credit card processing as well as MobiMoney, a feature that lets customers use their mobile device to turn cards on and off and receive alerts. • The U.S. …