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Person-to-person payment company clearXchange has a fifth owner. U.S. Bank, a unit of U.S. Bancorp, said on Tuesday it had invested in the network and plans to offer clearXchange services. Terms were not disclosed. ClearXchange was founded by Wells Fargo & Co., Bank of America Corp., and JPMorgan Chase & …
Read More »As P2P’s Popularity Shoots Upward, Facebook Enters the Game With Messenger
The viral popularity of peer-to-peer payments among younger consumers hasn’t gone unnoticed at the massive social networks that serve their needs for instant communication. Facebook Inc. on Tuesday said it has introduced a P2P payments service on its Messenger platform and will be rolling it out across the country “over …
Read More »Eye on ATMs: BMO Harris Bank’s New Cardless App; Diebold Buys Software Maker
Chicago-based BMO Harris Bank on Monday unveiled a mobile app for cardless ATM cash withdrawals and claimed it has the nation’s largest network of ATMs configured for smart-phone-based withdrawals. Meanwhile, ATM manufacturer Diebold Inc. said it bought a Canadian software company as part of a strategy to offer more software-based …
Read More »75% of Apple Pay Users Make Repeat Apple Pay Purchases At Same Locations
Retailers like nothing more than for a new customer to become a familiar customer, and that seems to be happening with a portion of Apple Pay users, finds a report from Auriemma Consulting Group. New York-based Auriemma says data from its Apple Pay tracker survey, which canvasses Apple Pay use …
Read More »Intuit Extends POS, E-Commerce Reach for QBO With Shopify, Bigcommerce Deals
Intuit Inc., which markets the highly popular QuickBooks accounting product for small businesses, continues to reinforce the online version of the software with point-of-sale and e-commerce capabilities. The Mountain View, Calif.-based company on Thursday announced an integration for QuickBooks Online (QBO) with Shopify Inc., an Ottawa-based platform for e-commerce and …
Read More »Anywhere Commerce’s Gateway Course Includes Adding NFC-Payment Capabilities
Mobile point-of-sale company AnywhereCommerce will add near-field communications (NFC) payment capability to its mobile hardware in coming weeks, signaling a further shift along its path to becoming a cloud-based payments gateway. That’s the word from William Nichols, Anywhere Commerce’s chief executive. That strategy, implemented about six months ago when Nichols …
Read More »EMV Helps Drive VeriFone’s North American Revenues to a Record
Point-of-sale terminal maker VeriFone Systems Inc. continued to ride the U.S. EMV chip card wave in its first quarter of fiscal 2015 as sales of EMV-compliant payment card acceptance systems helped lift North American revenues by 31% to a quarterly record. The San Jose, Calif.-based company late Tuesday reported revenues …
Read More »COMMENTARY: The Mobile Wallet Fallacy: How the Wrong Metaphor Led Us Astray
Familiar is easier than unfamiliar. This basic truth explains much misspent effort in the payments world. Wallets are familiar. We all have them. So as it became clear that the physical part of payments—cash, checks, plastic cards—would at some point disappear, it was natural to carry the idea of a …
Read More »New Patent Review Process Brings Relief to Defendants in Infringement Cases
Payments and other financial-services executives have long complained about what they call patent trolls, typically individuals who gain a patent on what some regard as a longstanding business method and then sue practitioners for infringement. In some instances, these cases have succeeded in wringing large settlements out of banks and …
Read More »Shopify Makes App Free and Expands POS Service to iPhones
Online-commerce company Shopify Inc. has made its Shopify POS app free for its merchants and introduced an iPhone version of the payments service, the company recently announced. The app, which launched in 2013, includes a card reader. The new app replaces the Accept Payment option in Shopify Mobile, the Ottawa, Ontario-based company’s …
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