News

October, 2019

• 4 October

  Consumers View Mobile Payments As Poorly Protected Against Financial Loss

  

  Payments executives love to talk about the security of paying with a smart phone, but that message still hasn’t gotten through to consumers, according to new survey findings from The Pew Charitable Trusts. The good news for mobile-payments proponents is that Pew found more than half, 56%, of its respondents …
• 3 October

  Samsung Pay Looks to Cross-Border Transfers As a New Growth Market

  

  Adoption of mobile-payment apps in the United States has been tepid, so the so-called “Pays”—Apple Pay, Google Pay, and Samsung Pay—have sought new features to spike consumer interest. The latest gambit comes from Samsung Pay, which on Thursday announced an integration that will allow U.S. users to send payments to …
• 3 October

  C&H Merges with Mann and other Digital Transactions News briefs from 10/3/19

  

  C&H Financial Services Inc. said it merged with Mann Merchant Processing Systems LLC to expand its East Coast operations and grow. The combined company will use the C&H brand. Terms were not disclosed.Merchant acquirer Elavon Inc., a subsidiary of U.S. Bancorp, acquired Gothenburg, Sweden-based payments provider Payius AB. Payius has been an …
• 2 October

  Processor Stocks Posted Negative Returns in September and the Third Quarter

  

  Investors in payment stocks experienced something in September they don’t have to suffer through very often—two straight months of negative returns. A basket of 27 transaction-processor stocks tracked by Chicago-based Barrington Research Associates Inc. posted a negative mean return of 3.89% in September, considerably worse than three major stock-market indexes. …
• 2 October

  A Top Libra Executive Rebuts a Report That Backers’ Support Is Wavering

  

  A report Wednesday that at least some members of the consortium backing Facebook Inc.’s Libra cryptocurrency project—including Visa Inc. and Mastercard Inc.—are having second thoughts has drawn fire from the top Facebook executive in charge of the project. “The tone of some of this reporting suggests angst, etc….I can tell …
• 2 October

  Jury Awards $135 Million to ISO in Breach-of-Contract Lawsuit Against Global Payments

  

  Global Payments Inc. may be on the hook for more than $135 million following a jury verdict in a breach-of-contract lawsuit filed by an independent sales organization against the Atlanta-based processor. A jury in the Superior Court of DeKalb County in Georgia found that Global Payments breached parts of its …
• 2 October

  Drury Revises Breach Dates and other Digital Transactions News briefs from 10/2/19

  

  Drury Hotels Co., which in May disclosed a data breach involving reservations made through some third-party online booking sites, now says the breach involved transactions from Dec. 28, 2017, to June 2 of this year, about two-and-a-half months longer than the originally stated timeline. Drury said “unauthorized access” occurred on …
• 1 October

  UnionPay International Claims 28 Million Merchants and 120 Million Cards

  

  The Shanghai-based UnionPay International payment network reported Monday that it now has 28 million accepting merchants outside of China and 120 million cards issued by non-mainland financial institutions since it launched its global business in 2004. But while UnionPay International now has a presence in 176 countries, with Chile and …
• 1 October

  Mobile Payments Firm AeroPay Launches a Cash-Back Incentive

  

  AeroPay, the mobile-payments service from Aero Payments LLC, debuted a 1% cash-back rewards program for its users. AeroPay, which uses a connection to the automated clearing house network for its transactions via Dwolla Inc., says consumers using its iOS or Android app can earn unlimited 1% cash-back rewards. The payout …
• 1 October

  Pricing Is Top FedNow Inquiry and other Digital Transactions News briefs from 10/1/19

  

  The Federal Reserve, which is taking industry comments on its upcoming FedNow real-time payments network until Nov. 7, said common questions so far involve pricing and the scope of the service. The first question can’t be answered yet, and the second touches on services that will be designed by financial institutions building on top …