Digital Transactions Authoritative, insightful and timely information for payments professionals
Twenty European banks are working on setting up a pan-European payment system to challenge Visa, Mastercard and technology companies such as Google and PayPal, according to press reports. The project is code-named PEPSI, for Pan European Payment System Initiative.In a development that signals an opening in China’s long-protected payments environment, Chinese mobile-payment giants …
November, 2019
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5 November
With A Big Worldpay Integration on Its Plate, FIS Is Likely to Look to ‘Tuck-in’ Deals, CEO Says
Having just swallowed the massive processor Worldpay Inc., Fidelity National Information Services Inc. will stay on the sidelines for a while when it comes to any more major acquisitions, its chief executive said Tuesday. Meanwhile, the combined company’s update indicated it is now on track to deliver more than $1 …
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4 November
Discover Contactless Cards Coming and other Digital Transactions News briefs from 11/4/19
Discover Financial Services said it will begin issuing contactless cards over the next several months, starting first this month with holders of Discover it and Discover More cards who need cards reissued or replaced. New cardholders will get contactless cards beginning in December.ACI Worldwide expanded its long-term relationship with ATM network operator …
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1 November
Google To Buy Fitbit and other Digital Transactions News briefs from 11/1/19
Google Inc. agreed to acquire Fitbit Inc., producer of smart watches and the Fitbit Pay contactless-payment service, for approximately $2.1 billion. Fitbit has sold more than 100 million devices in its 12 years in business. Google, whose Google Pay mobile-payment service has been in the market since 2015, is part of Alphabet Inc. The …
October, 2019
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31 October
With TSYS Now Under Its Wing, Global Payments Expands in Canada With Desjardins Acquisition
Total System Services Inc. (TSYS) officially became part of Global Payments Inc. only on Sept. 18, but the massive task of stitching two large payment processors together didn’t stop Global from buying yet another financial institution’s merchant portfolio. Global announced Thursday that it will acquire the entire 40,000-merchant file of …
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30 October
Kroger Lifts Visa Ban and other Digital Transactions News briefs from 10/30/19
The Kroger Co. lifted its acceptance ban on Visa credit cards at its Smith’s Food & Drug and Foods Co subsidiaries, according to news reports. Kroger, citing what it called high acceptance costs, first banned the cards at its small Foods Co chain in August 2018 and extended it to the larger Smith’s …
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28 October
Four Merging ISOs Adopt Payroc Name and other Digital Transactions News briefs from 10/28/19
Days after Nxgen and Payscape announced they were merging with a third payments provider, BluePay Canada, the new entity said it has agreed to combine with a fourth company, Payroc LLC, and adopt the Payroc name. James Oberman, Payroc’s chief executive, will serve as CEO of the merged entity.Discover Financial Services said it now …
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25 October
Nxgen, Payscape, And BluePay Canada Combine to Form a Processor Serving 25,000-Plus Merchants
This year’s mega-mergers in the transaction-processing business are now starting to generate some smaller spin-off deals. On Friday, two payments providers, Nxgen International and Payscape, said they have acquired a third, BluePay Canada. Terms of the deal were not announced, and an overarching name for the tripartite company has not …
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24 October
‘The Deadly Trifecta’ Is Among Threats Putting $88 Billion in Banks’ Payments Revenue at Risk
While fintechs and other nonbank payments providers continue to carve out more market share for themselves, banks could face losing up to $88 billion in payments revenue to them. That’s the assessment from Accenture, the consulting firm that on Wednesday released its latest report, “5 Big Bets in Retail Payments …
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23 October
How PayPal Plans to Leverage Its Newly Won Foothold in Online Payments in China
Top management at PayPal Holdings Inc. made it clear Wednesday the company will continue to hunt for acquisitions and intends to leverage its recently won clearance to acquire a 70% stake in China’s Guofubao Information Technology Co. Ltd., better known as GoPay. The Chinese venture, in which PayPal will become …
