News

November, 2019

• 25 November

  MoneyGram Expands Blockchain Services as Ripple Invests Another $20 Million

  

  Following up on a $30-million investment in June, blockchain-services provider Ripple Labs Inc. has made another $20-million equity investment in wire-transfer provider MoneyGram International Inc., making Ripple the owner of nearly 10% of MoneyGram’s common stock. Announced Monday, the new investment is no surprise. The companies indicated in June it …
• 25 November

  Discover Says Its Cardholders Can Use Their Rewards to Pay When Checking out With PayPal

  

  The major payment card networks have long since come to terms with PayPal Holdings Inc., and now they’re finding ways to put that newfound friendship to use in burnishing their brands with cardholders. The latest example surfaced Monday with an announcement from Discover Financial Services that Discover cardholders can use …
• 25 November

  FIS Adds P2P Tool and other Digital Transactions News briefs from 11/25/19

  

  Processor Fidelity National Information Services Inc. (FIS) announced it has integrated IBM Corp.’s Safer Payments tool for its peer-to-peer payments products. Safer Payments relies on artificial intelligence and machine learning to sift through transactions for signs of fraud.Catch Hospitality Group, which operates the Catch NYC and Catch Steak restaurants, said it discovered malware on …
• 22 November

  Rising Competition Is Pressuring ISVs, But Also Threatens Existing ISO Relationships

  

  In recent years, independent sales organizations and payment processors have generated plenty of lucrative business by working with software developers and marketers—businesses usually known as independent software vendors, or ISVs. But now a report indicates the software market is getting increasingly crowded, a development ISVs fear is pressuring prices. It’s …
• 22 November

  Church’s Chicken Investigating Possible Breach and other Digital Transactions News briefs from 11/22/19

  

  The Church’s Chicken restaurant chain said it is investigating a possible breach of credit and debit card data at about 165 company-owned locations in 11 states. The company, which said it is working with federal authorities, has hired a cybersecurity firm and has notified the card networks and credit-reporting agencies.Recurring household bills …
• 22 November

  A Tide of Online Fraud Engulfs a Group of Businesses Surveyed by American Express

  

  Researchers and risk-control firms have been monitoring the increase in e-commerce fraud for years, and it’s hit home for a group of merchants surveyed by American Express Co. A newly released AmEx survey that included 400 business leaders says they estimate 27% of their firms’ annual online sales are fraudulent …
• 21 November

  Stepping Further into E-Commerce, PayPal Pays $4 Billion for Honey Shopping Assistant

  

  PayPal Holdings Inc. is betting big on its strategy of boosting its e-commerce presence with its approximately $4 billion acquisition of Honey Science Corp., a technology platform that helps consumers find offers and deals on popular e-commerce sites. Announced Wednesday afternoon, the deal envisions Honey tapping into the more than …
• 21 November

  Newtek Makes Developer Bet and other Digital Transactions News briefs from 11/21/19

  

  Newtek Business Services Corp., a provider of loans, merchant processing, and other services for small businesses, acquired a 51% stake in POS on Cloud, developer of payments and business-management systems for restaurants, retailers, assisted-living providers, and parks and golf courses.Fidelity National Information Services Inc. (FIS) said Eyefinity, a software developer for …
• 21 November

  Galileo Teams With Mastercard to Offer Instant Debit Cards Across a Wide Range of Industries

  

  The trend toward faster payments involves several dimensions, one of which is faster card delivery to a wide array of sponsors and users who until now had little or no access to cards branded by a global network. Galileo Financial Technologies Inc. said Thursday it’s offering that capability with an …
• 20 November

  Eye on Contactless: Credit Unions’ Contactless Cards Grow; Mastercard’s New Transit Partner

  

  A leading credit-union service organization reported Wednesday that it has distributed half a million contactless payment cards through some of its members, and Mastercard Inc. has paired up with a French investment firm with an eye on bringing new fare technology to mass-transit systems. St. Petersburg, Fla.-based PSCU says it …