Digital Transactions Authoritative, insightful and timely information for payments professionals
ZipLine, the provider of private-label debit payment services for convenience stores like Cumberland Farms, has been acquired by Professional Datasolutions Inc., a c-store software developer and services company. Announced Thursday, the deal will enable Alpharetta, Ga.-based PDI to bundle ZipLine’s private-label debit and mobile-payment app with its Marketing Cloud Platform. …
June, 2020
-
18 June
May E-Commerce Spending up 93% and other Digital Transactions News briefs from 6/18/20
E-commerce spending in the United States surged 93% in May, compared to May 2019, according to Mastercard Inc.’s SpendingPulse data service.Installment-payment technology provider Splitit Payments Ltd. said it signed a multiyear deal with Mastercard Inc. to provide access to Splitit’s installment options through Mastercard’s merchant network. Split and Mastercard also plan to jointly …
-
17 June
With a Loss Before Britain’s High Court, Visa And Mastercard Face an Interchange Reckoning
Merchants in the United Kingdom won an important battle against interchange fees on Wednesday but it remains uncertain just how much that will mean to them in terms of remuneration from Visa Inc. and Mastercard Inc. The case also could have ramifications for similar action in the U.S. market, some …
-
17 June
Synchrony Unveils Small-Business Aid Effort That Includes Digital Payment Tools
Store card provider Synchrony Financial on Wednesday launched a program that offers small businesses grants through community organizations and includes access to digital payment tools and consulting services. The initiative comes as many small businesses struggle with the economic disruption caused by the Covid-19 pandemic as well as closures and damage …
-
17 June
Amazon To Use Mastercard Tokenization and other Digital Transactions News briefs from 6/17/20
Mastercard Inc. announced Amazon.com Inc. will start using tokens to replace actual customer card data throughout 2020. Tokenization replaces actual card data with data strings that are meaningless to outside parties. The process also permits automatic credential updating when cards expire.Payments card standards body EMVCo made it official—consumer-facing online-payment checkout options based on …
-
16 June
Eye on POS Systems: Lightspeed Adds E-Commerce Features and Revel Augments Online Ordering and Other Features
In the wake of Covid-19, merchants continue to see more features added to cloud-based point-of-sale systems. In the latest updates, Lightspeed POS Inc. introduced on Tuesday new e-commerce services, including shipping, curbside pick-up, and appointment setting. And Revel Systems Inc. has refined its online ordering and order-pickup management. First up, …
-
16 June
Square’s PPP Lending and other Digital Transactions News briefs from 6/16/20
Merchant processor Square Inc. said that as of June 10 its Square Capital service had facilitated more than $820 million in Paycheck Protection Program loans to 76,000 small businesses since April 29. PPP loans are part of the federal government’s stimulus program to combat the economic downturn caused by the Covid-19 pandemic.In …
-
15 June
It’s Goodbye Cards, Hello Electric Cars for Publicly Traded Processor Net Element
Merchant processor Net Element Inc. has a letter of intent to merge with Mullen Technologies Inc., a privately held startup that plans to sell Chinese-made electric sports cars in the U.S. The pending deal, announced Monday, requires Net Element to divest its payment-processing business. The so-called “reverse triangular merger” is …
-
15 June
Cardtronics Sees a Recovery in U.S. ATM Cash Withdrawals as States Reopen
Volume in some of its foreign markets is still way down as a result of the Covid-19 pandemic, but leading non-bank ATM network operator Cardtronics plc reported Monday that same-store U.S. cash-withdrawal transaction volumes were off only 3% in the first half of June from a year earlier. PSCU, a …
-
15 June
AmEx Scores a First as China Approves Its Processing License
American Express Co. has become the first foreign payments company to be approved to clear domestic transactions in mainland China. The move comes with approval of a network clearing license over the weekend from the People’s Bank of China for Express Technology Services Co. Ltd., an AmEx joint venture with …
