News

February, 2020

• 25 February

  Ajay Banga, Architect of Mastercard’s ‘Multi-Rail’ Strategy, Will Step Down As CEO in January

  

  Ajay Banga, chief executive of Mastercard Inc. for the past decade and the strategist who converted what had been mostly a consumer card network into a player in non-card and real-time payments, said Tuesday he will step down Jan. 1 as CEO. He will then assume the role of executive …
• 25 February

  With $70 Million in Fresh Funding, PayRange Is Ready To Displace Cash in Unattended Payments

  

  PayRange Inc. said its recent procurement of $70 million in funding will help accelerate its efforts to displace cash and convert cash-and-coin-only machines to electronic payments. Announced Tuesday, the funding will help with PayRange’s 2020 Consumer Choice Program. That is an effort to convert cash-only machines to electronic payments. Laundry operators, …
• 25 February

  MoneyGram Volume Up and other Digital Transactions News briefs from 2/25/20

  

  Wire-transfer provider MoneyGram International Inc. said transaction volume from its MoneyGram Online service grew 39% year-over-year in the fourth quarter; the company reported a net loss of $11.9 million compared with a loss of $12.5 million in 2018’s fourth quarter.Former Fit Pay Inc. shareholders are suing Garmin International, alleging the company, known for its …
• 24 February

  More Than 600 FIs Join Zelle Via Fiserv and other Digital Transactions News briefs from 2/24/20

  

  Fiserv Inc. announced more than 600 financial institutions have joined the Zelle peer-to-peer payments network through its Turnkey Service for Zelle program, with more than 300 of those institutions coming on board last year.Private-equity firm Great Hill Partners and payments provider VersaPay Corp. announced the closing of the previously announced acquisition of VersaPay by an …
• 21 February

  Shopify Joins Libra, Defying a Wave of Defections From the Cryptocurrency Venture

  

  The controversial Libra cryptocurrency project gained a new member Friday with Shopify Inc.’s announcement it will join the Libra Association, the governing body for the fledgling venture. Shopify’s decision comes in the face of a string of eight high-profile defections from the association since October, including decisions by Mastercard Inc., …
• 21 February

  The Clearing House Payments Co. And 11 Banks Take Stakes in an Access-Protection Firm

  

  FMR LLC, the parent company of Fidelity Investments, the big mutual-fund and asset-management firm, this week spun off Akoya LLC, a tech company that recently launched an account-access protection network. Akoya is now co-owned by FMR, The Clearing House Payments Co., and 11 of TCH’s member banks, a development expected …
• 21 February

  Cardtronics Eyes Deposit-Taking ATMs and Surcharge-Free and Branding Deals for Growth

  

  Thanks mainly to strong results in North America, leading non-bank ATM network owner Cardtronics plc saw fourth-quarter revenues rise, and in 2020 is seeking new growth from more partnerships with banks and fintechs and the deployment of deposit-taking ATMs. Houston-based Cardtronics now has nearly 1,000 deposit-taking and cash-accepting ATMs in …
• 21 February

  Fiserv Launches PIN-Based Contactless Payments on Nothing More Than Sellers’ Mobile Phones

  

  Fiserv Inc. said this week its First Data unit has performed the first PIN-on-mobile contactless transaction involving only a commercially available mobile device. Observers say the breakthrough could expand the availability of PIN-on-mobile technology significantly by allowing small merchants like food-truck operators and other mobile sellers to accept card payments …
• 21 February

  Western States Names Officers and other Digital Transactions News briefs from 2/21/20

  

  The Western States Acquirers Association announced Jason Putnam, a TIB-The Independent BankersBank executive, is president for 2020, having been a board member for the past 11 years. Deborah Camm, a Merrick Bank executive, is the vice president. Chase Oelkers of Folium Biosciences and Scott Defazio of Fiserv were elected directors. John Newton …
• 20 February

  Better merchant compliance helps you, your peers, and your country!

  

  PCI Plus: The answer to the PCI compliance crisis and U.S. security threats Read news feeds on any social media platform, or watch your nightly news, and you’re likely to hear about cybercriminals hacking someone’s data. Facebook and Capital One are just a few of the notable security breaches this …