News

October, 2019

• 17 October

  How ISOs are outsmarting flat production trends

  John Newton – Vice President of Sales, Strategic Partnership Channel, First American Payment Systems If one-to-many isn’t part of your ISO’s growth strategy, it should be. The days of selling on price and free equipment are in the rearview mirror. Product parity has leveled the playing field, with market compression …
• 17 October

  How a New Credit Card From Synchrony Could Help Boost Revenue for PayPal’s Venmo

  

  PayPal Holdings Inc. has made no secret of its push to generate revenue from its highly popular—but free—Venmo peer-to-peer payment service. Its latest gambit came to light early Thursday with the news that long-time finance partner Synchrony Financial will issue a Venmo credit card for the U.S. market starting the …
• 17 October

  Galileo Lands $77 Million in Funding and other Digital Transactions News briefs from 10/17/19

  

  Galileo Financial Technologies, a 19-year-old developer of application programming interfaces for payments, announced a $77 million institutional funding round led by venture-capital firm Accel.Flowhub Holdings Inc., provider of a management platform for cannabis retailers, announced a Series A funding round whose participants included Iqram Magdon-Ismail, the co-founder and former CEO …
• 16 October

  Rental Payments Dominate Zelle Volume; Are Transaction Limits a Hindrance?

  

  Rental payments are the top use case by far on the Zelle person-to-person payments network, according to the chief executive of Zelle provider Early Warning Services LLC. “From an end-user use-case perspective, far and away the No. 1 use case for Zelle right now is actually a rent payment,” Albert …
• 16 October

  Is Apple Card the ‘Most Successful Credit Card Launch Ever?’ Some Experts Demur

  

  There’s little doubt that Apple Inc.’s Apple Card has stirred plenty of publicity before and since its Aug. 20 launch. And it enjoys the backing not just of Apple but of investment-banking giant Goldman Sachs, the card’s issuer. But is it “the most successful credit card launch ever?” That claim …
• 16 October

  Gains for Mobile Bill Pay and other Digital Transactions News briefs from 10/16/19

  

  Twenty-one percent of consumers used a mobile app to pay a bill in 2019’s first quarter, up from 19% in the year-earlier period, according to a survey of more than 3,000 consumers by ACI Worldwide Inc. Meanwhile, 28% used a paper check, down from 32% a year earlier, according to the ACI …
• 15 October

  The Fed Wants To Get FedNow Into Market Quickly, But Hasn’t Changed Its Rollout Schedule

  

  Two senior Federal Reserve officials said Tuesday they are committed to rolling out the proposed FedNow real-time payments service as quickly as possible, but they didn’t say the original schedule calling for a launch in 2023 or even 2024 will be shortened. “We will be making every effort, I think, to …
• 15 October

  A ‘Thriving’ ACH Logs 9.5% Growth, Adding to a Recent Record of Quarterly Expansion

  With same-day transaction growth sizzling, the automated clearing house network overall notched another quarter of robust growth. The system logged 6.2 billion transactions in the quarter ended Sept. 30, up 9.5% over the third quarter of 2018, according to figures released Tuesday by Nacha, the network’s governing body. Total payment …
• 15 October

  Samsung POS Coming and other Digital Transactions News briefs from 10/15/19

  

  Days after launching services that allow users to make international remittances and use a virtual prepaid card for payments, Samsung Electronics Co. launched Samsung POS, an app that it says will let merchants accept near-field communication payments on their mobile devices. Developed with payments-technology firm Mobeewave, Samsung POS is aimed at micro-merchants and other small …
• 14 October

  A Crucial Meeting of 21 Remaining Libra Backers Elects a Board And Appoints Executives

  

  In the face of multiple defections so far, Facebook Inc.’s controversial cryptocurrency project scored a victory of sorts Monday when 21 remaining backers officially signed on at a crucial meeting in Geneva, Switzerland. In a busy day, the companies making up the Libra Association signed on to the project’s charter, …