• Venmo, the peer-to-peer payment service from PayPal Holdings Inc., said all Venmo users now can use the service to make in-app purchases at participating merchants. Announced earlier this year, the in-app payment is available with 11 merchants. • Wireless transaction gateway Apriva said it has completed EMV certification for …
Read More »Meta Financial Doubles Financial Metric and other Digital Transactions News briefs
• Processor Vantiv Inc. launched the One Network Experience service for software developers. Dubbed O.N.E., the service offers a suite of integration tools, personalized help, and access to an online developer community. • Meta Financial Group Inc. said Meta Payment Systems, a division of MetaBank, a major prepaid card issuer, …
Read More »MasterCard Eyeing China and other Digital Transactions News briefs
• MasterCard Inc. is mulling an application to become a licensed payment service provider in China, a massive payments market dominated by state-owned China UnionPay, according to Reuters. • agreement with Visa Inc. that includes promotion of Visa cards and a new point-of-sale thrust for PayPal. Visa was trading at …
Read More »A Sweeping Deal With Visa Allows PayPal To Make Another Run at the Physical POS
For years, PayPal Holdings Inc. has struggled to bring its popular online payment product to the physical point of sale, and now a deal announced Thursday with Visa Inc. may help the company finally realize that ambition. The sweeping, multiyear agreement could also represent a thaw in what have often …
Read More »TMS Adds CNP Services to Groovv and other Digital Transactions News briefs
• In a sign of further global expansion plans, merchant acquirer Square Inc. in June incorporated a business in the United Kingdom called Square Europe Ltd. and began testing its payment system in London, Reuters reported. Besides the U.S., Square already operates in Canada, Australia, and Japan. • Processor Total Merchant …
Read More »Wal-Mart Canada Carries Out Its Threat To Ban Visa Card Acceptance in Ontario City
Wal-Mart Stores Inc.’s Canadian unit on Monday stopped accepting Visa cards at its three stores in Thunder Bay, Ontario, carrying out the threat the retailer issued last month in its dispute with Visa Inc. over card-acceptance costs. A spokesperson at Wal-Mart’s Canadian headquarters in Mississauga, Ontario, as well as a …
Read More »First Data’s Clover Targets Sports Arenas and other Digital Transactions News briefs
• Citing “changes in the market and an increasing number of mobile payment and banking options available” from financial institutions, the telco-led Canadian mobile-payments service suretap is shutting down as of Aug. 26, according to its Web site. The move follows the January 2015 failure of a similar telco-controlled venture …
Read More »Big Banks Report Rising Second-Quarter Debit and Credit Card Purchase Volumes
Payment card charge volumes and merchant-processing revenues rose at several of the nation’s biggest banks during the second quarter, according to company reports as the mid-year earnings season got underway this week. Minneapolis-based U.S. Bancorp reported Friday that its payments businesses produced 22%, or $328 million, of the company’s $1.52 …
Read More »With EMV Not Yet in Every Wallet, Square Promotes Its Magnetic-Stripe Readers
Despite the hoopla surrounding EMV acceptance, and the constant promotions from acquirers and payments providers touting EMV-capable equipment, at least one acquirer, Square Inc., continues to believe there is a market for magnetic-stripe readers. A direct-mail piece from Square mailed late last week touts its magnetic-stripe reader along with its …
Read More »Gravity Chief Executive Wins Court Case and other Digital Transactions News briefs
• More than 120 retailers, including Wal-Mart, Target, Kroger, Best Buy, and 7-Eleven, signed a letter urging the U.S. House of Representative’s Financial Services Committee to reconsider the elimination of the Durbin Amendment that would happen if two pending bills become law. • After a three-week trial, a Superior Court judge …
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