News

July, 2020

• 29 July

  More Straight Talk for ISOs: Maintaining a Relationship during a Crisis

  

  Ross Paup is Senior Manager, Strategic Partnerships Angela Carranza is Manager, Strategic Partnerships Failure to communicate with customers during a crisis can come at a high cost: lost business, lack of trust, etc. How is First American ensuring customers know they are top of mind in today’s environment?    Ross: …
• 29 July

  Businesses Adopt Zelle As the Network’s Numbers Climb in the Face of the Pandemic

  

  Peer-to-peer payments networks like Zelle were introduced as a means for consumers to pay each other, but business acceptance now appears to be ramping up along with consumer usage in the face of the Covid-19 pandemic.  Seven major financial institutions are now enabling property owners, home-services companies, and other small …
• 29 July

  Five Banks Link to TCH RTP Network and other Digital Transactions News briefs from 7/29/20

  

  Five banks linked to The Clearing House Payments Co.’s Real Time Payments (RTP) network on a single day. The five—Dogwood State Bank, First Fidelity Bank, National Bank of Texas, Royal Bank, and Signature Bank—joined through Jack Henry & Associates Inc.’s JHA PayCenter. A Jack Henry executive said the company expects to “onboard …
• 28 July

  Visa Remains Profitable Despite Pandemic Hits; eBay Volume Jumps 26%

  

  Visa Inc. reported Tuesday that it managed to make nearly $2.4 billion in its June-ending quarter despite massive hits to its international volumes and credit card spending caused by the Covid-19 pandemic, and its chief executive also addressed the latest debit card controversy. Separately, online marketplace eBay Inc. reported its …
• 28 July

  Durbin Asks Fed Chairman for ‘Appropriate Enforcement Action’ Involving Debit Card Transaction Routing

  

  U.S. Sen. Richard Durbin and a Vermont Congressman want the Federal Reserve to look into what they say are efforts by debit card issuers “aided by the dominant card networks” to prevent PIN-debit networks from getting a bigger share of booming card-not-present payment volume. “The Federal Reserve should consider appropriate …
• 28 July

  Payments Gripes Soar During the Pandemic, According to CFPB Data

  

  Consumer complaints about payment products and services have shot up since March, when the national emergency was declared to deal with the Covid-19 pandemic. Complaints about credit and prepaid card products are up 29% over the same period last year, and gripes about money-transfer, virtual-currency, and money services have soared …
• 28 July

  Mastercard Agrees to Nets Concessions and other Digital Transactions News briefs from 7/28/20

  

  Mastercard Inc. is offering some concessions in its bid to win approval from European Union competition authorities for its planned $3.2 billion acquisition of major parts of Denmark-based payment processor Nets Group, Reuters reported.California’s Department of Motor Vehicles selected payments provider Forte Payment Systems to oversee the DMV’s e-check verification process.Digital-banking technology provider Tyfone Inc. has …
• 27 July

  Garmin Says Outage Doesn’t Affect Payment Data

  

  The ability of hackers to disrupt connected devices was on display over the weekend with Garmin Ltd., a major purveyor of fitness trackers, smart watches and related tech gear, including products that can make contactless payments, reporting service interruptions that some observers say have been caused by a ransomware attack. …
• 27 July

  Paysafe To Buy Openbucks and other Digital Transactions News briefs from 7/27/20

  

  Payment processor Paysafe said it has a deal to acquire the gateway Openbucks for an undisclosed price.The Missouri Department of Social Services said it now allows child-support payments via Apple Pay, Google Pay, and PayPal.Mogo Inc., a Canadian fintech, made publicly available MogoSpend, a so-called spending account that comes with a cobranded Visa Platinum prepaid …
• 27 July

  A Ripple Executive Sets up a Digital Wallet for One-Click Checkout With XRP

  

  The big card networks have been introducing a one-click e-commerce checkout and plan to take it overseas by next year, but now a Ripple Labs Inc. executive may beat them to the punch with a single-click capability for Ripple’s XRP cryptocurrency. In what he characterizes as a “personal project,” Ripple director …