Digital Transactions Authoritative, insightful and timely information for payments professionals
Merchant-processing revenues from North America grew 7% year-over-year in 2018’s fourth quarter to $1.1 billion on a comparable accounting basis, First Data Corp. reported Wednesday. First Data, which has an agreement to be acquired by processor Fiserv Inc. in a $22 billion all-stock deal, reported total quarterly revenues of $1.42 …
February, 2019
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6 February
As the Fiserv-First Data Behemoth Looms, Jack Henry Issues a Subtle Warning
With the proposed merger of processing giants First Data Corp. and Fiserv Inc. looming over the payments landscape, players that both work and compete with the two companies are in a potentially ticklish position. But the chief executive of one such company made it clear Wednesday morning that First Data …
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1 February
Going by Share Prices, Investors Like What They See in the Massive Fiserv-First Data Deal
Fiserv Inc. and First Data Corp. argue their proposed $22 billion combination will usher in a processing behemoth that should create substantial operating efficiencies and economies of scale. And so far, investors are buying that story. Shares of both companies are up by double-digit percentages since the Jan. 16 announcement …
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1 February
Elavon Plans To Hire 500 More Employees and other Digital Transactions News briefs from 2/1/19
Elavon, the Atlanta-based merchant-acquiring subsidiary of U.S. Bancorp, says it plans to hire approximately 500 employees globally over the next three years. Elavon currently employs more than 730 people in Atlanta and more than 4,500 worldwide. BlockChyp Inc., a payment software and gateway provider, said it completed Level 3 certification …
January, 2019
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30 January
Visa Eyes More Contactless Cards And More Volume From Visa Direct
Visa Inc. saw payment volume growth of nearly 11% in the quarter ended Dec. 31, and sees ever-more contactless cards and volume on its Visa Direct real-time payments service in its future. Visa on Wednesday reported a respectable first quarter of fiscal 2019, according to its chief executive, despite the …
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30 January
PayPal Chalks up a Big Quarter As It Decouples From eBay And Ratchets up Venmo
In reporting its performance for the fourth quarter of 2018 as well as the full year, PayPal Holdings Inc. indicated its dependence on former owner eBay Inc. is down, Venmo monetization is up, and active accounts are surging. Meanwhile, the San Jose, Calif.-based company said it is entering a potentially …
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30 January
Apple Pay Volume Exceeds 1.8 Billion and other Digital Transactions News briefs from 1/30/19
Apple Pay processed more than 1.8 billion transactions in fiscal 2019’s first quarter ended Dec. 31, “well over twice the volume” of the year-earlier quarter, Apple Inc. CEO Tim Cook told analysts late Tuesday, according to a SeekingAlpha.com call transcript. Apple Pay is now live in 27 countries, most recently …
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29 January
TSYS Sets ‘Aggressive Goals’ for Vital But Predicts ‘Headwinds’ From the CFPB’s Prepaid Rule
Top executives at Total System Services Inc. on Tuesday predicted big results from the Columbus, Ga.-based processor’s new Vital line of point-of-sale payment devices but also warned the onset of a massive federal regulation this spring will crimp prepaid card revenues in 2019. They also assured analysts on a conference …
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29 January
Square Faces Slower Growth Prospects, Analyst Says
Square Inc.’s share price slid 10% Tuesday in the wake of an analyst’s report saying growth for the high-flying merchant processor is becoming tougher. Square’s organic growth probably peaked in 2018’s third quarter and growth in subscriptions and services will slow in 2019’s second quarter as recent acquisitions are absorbed, …
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25 January
Mastercard Aces Out Visa in Sudden Bidding War for B2B Processor Earthport
In a rare public bidding war pitting the two leading payment card networks against each other, British business-to-business payment processor Earthport Plc’s board of directors on Friday recommended that its shareholders accept Mastercard Inc.’s all-cash buyout offer, which is 10% higher than Visa Inc.’s offer the board endorsed less than …
