News

March, 2020

• 12 March

  Suddenly, Ransomware Is Taking a Heavy Toll on State And Local Governments

  

  As the plague of ransomware continues to roil digital payments and other industries, it turns out state and local governments are proving to be particularly vulnerable. In fact, ransomware attacks on school systems, police departments, city administrative offices, and other governmental agencies are rising fast. Last year, state and local …
• 12 March

  Eye on Covid-19: Payments Providers Hunker Down As an ATM Group Decries ‘The Scapegoating of Cash’

  

  The electronic-payments industry is settling into a ride-it-out mode as panic selling resumed Thursday on Wall Street over the coronavirus, now deemed a pandemic by the World Health Organization. The Dow Jones Industrial Average opened down 1,700 points, and most payments stocks went over the cliff with it. In late-morning …
• 12 March

  NAB Debuts New Compensation Program and other Digital Transactions News briefs from 3/12/20

  

  Payments provider North American Bancard LLC launched two new compensation programs for sales agents, including a restructured bonus program and a portfolio buyout program that includes an opportunity for qualified sales agents to have a portion of their residuals purchased.Processor Wirecard AG is partnering with point-of-sale credit specialist Klarna AB to integrate all of …
• 11 March

  Short-Term Coronavirus Impacts Are Unlikely To Hurt Long-Term Payments Viability, Analysts Say

  

  As consumers and businesses contend with the uncertainty spawned by the coronavirus outbreak, payments companies will feel the effects, perhaps more than they’ve already announced. Though neither of the two larger U.S. card networks—Mastercard Inc. and Visa Inc.—have updated their recent revisions to their financial guidance, some analysts suggest the impact …
• 11 March

  Ex-Twitter Execs Join a $50 Million Funding Round for Payment And Software Provider SpotOn

  

  Fast-growing payment technology and software provider SpotOn Transact Inc. said Wednesday that it raised $50 million in a Series B funding round that included 01 Advisors, an investment firm led by three former Twitter Inc. executives.  SpotOn, which says its revenues increased by more than 150% in 2019, will use …
• 11 March

  Nova Dia Adds Square Integration and other Digital Transactions News briefs from 3/11/20

  

  Novo Dia Group, a developer of point-of-sale software for electronic benefits transfer and other payments, said it has integrated with Square Inc.’s platform and enhanced its main product, Mobile Market, which it has renamed TotalPay.College payment-processing specialist PayMyTuition said it has developed a service that allows colleges and universities to settle cross-border …
• 10 March

  Eye on Fraud: ACI’s Self-Adjusting Machine-Learning Model; Consumers’ Fraud Fears

  

  Machine learning is a popular fraud-fighting technology, but models have a tendency to become less effective over time as criminals adjust their tactics. On Tuesday, ACI Worldwide Inc. said it’s taking a crack at that problem with a service that the company says can adjust automatically to changing fraud patterns. …
• 10 March

  Eye on POS Systems: Shift4 Adds An Integration; Netsurion Extends Restaurant Reach

  

  As merchants expect more consolidated services from their point-of-sale systems, payments providers are listening and acting. Merchant processor Shift4 Payments LLC said Tuesday that its suite of restaurant POS systems now has an integration with TakeOut7 Inc., an online-ordering service. This enables orders placed via TakeOut7 to sync with Shift4’s …
• 10 March

  Western Union’s Law-Firm Payment Service and other Digital Transactions News briefs from 3/10/20

  

  The Western Union Co. launched WU Incoming Payments for Legal, a service aimed at allowing U.S. law firms to accept foreign payments without bank-processing fees.Payments provider Usio Inc. said InsureSmith, which provides insurance brokerage software products, integrated Usio’s PayFac-in-a-Box service to enable users to pay premiums directly through the InsureSmith platform.E-commerce services provider Signifyd announced …
• 9 March

  Dual-Interface Chip Card Sales Lift CPI Card Group

  

  As the payments industry reeled Monday morning during yet another wild session on Wall Street, card manufacturer CPI Card Group Inc. provided a glimmer of hopeful news when it reported improving financials thanks in part to growing sales of dual-interface cards. Littleton, Colo. based CPI said fourth-quarter sales in its …