Quick-service restaurant chain The Krystal Co., which has 342 locations in 10 Southeastern states, said it is in the early stages of “actively investigating a security incident” that may have compromised credit and debit card numbers used in payments at some of its stores from July through September.A. Wayne Johnson, …
October, 2019
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24 October
Visa CEO Predicts a ‘Relatively Easy’ Conversion to the New Secure Remote Commerce System
The four global U.S.-based payment card networks unveiled their joint e-commerce buy button this week, which means merchants, merchant acquirers, and processors can look forward to—or dread—implementing it. Visa Inc. chairman and chief executive Alfred F. Kelly Jr. predicted Thursday they shouldn’t have too many problems. The button is based …
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24 October
‘The Deadly Trifecta’ Is Among Threats Putting $88 Billion in Banks’ Payments Revenue at Risk
While fintechs and other nonbank payments providers continue to carve out more market share for themselves, banks could face losing up to $88 billion in payments revenue to them. That’s the assessment from Accenture, the consulting firm that on Wednesday released its latest report, “5 Big Bets in Retail Payments …
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24 October
Kabbage Payments Debuts and other Digital Transactions News briefs from 10/24/19
Kabbage Inc. launched Kabbage Payments, a payments service for small businesses. Kabbage provides merchant lending and uses a payment-facilitator model for the Kabbage Payments subsidiary.American Express Co. revamped its 50-year-old Green Card with a new suite of benefits and rewards. Now called Green from Amex, the card’s fee is $150, up from …
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23 October
How PayPal Plans to Leverage Its Newly Won Foothold in Online Payments in China
Top management at PayPal Holdings Inc. made it clear Wednesday the company will continue to hunt for acquisitions and intends to leverage its recently won clearance to acquire a 70% stake in China’s Guofubao Information Technology Co. Ltd., better known as GoPay. The Chinese venture, in which PayPal will become …
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23 October
Apple Pay Bucks Starbucks From the Top of the Mobile-Payments Heap
The number of Apple Pay users has surpassed that of the Starbucks mobile-payments service, says eMarketer Inc., marking the first time a general-purpose mobile app has become more popular than the coffee retailer’s. New York City-based eMarketer counted 30.3 million U.S. Apple Pay users, while Starbucks had 25.2 million users. …
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23 October
Discover’s Payment Volume Increases 7% and other Digital Transactions News briefs from 10/23/19
Discover Financial Services reported its Payment Services unit, which includes activity on the Pulse electronic funds transfer network, on Diners Club cards, and with network partners, recorded $62.6 billion in volume in the third quarter, up 7% year-over-year. Volume on Pulse alone increased 5% to $47.5 billion. With Discover network proprietary …
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22 October
Zelle Posted $49 Billion in Payment Volume for the Third Quarter
Scottsdale, Ariz.-based Early Warning said Zelle’s volume totaled $49 billion, up 58% from 2018’s third quarter. Over the same time, transactions increased 73% to 196 million. Dollar volume on the Zelle peer-to-peer payments service increased more than 50% year-over-year in the third quarter while the transaction count jumped even more, …
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22 October
Eye on Acquisitions: Mastercard Buying Loyalty Platform Provider; Visa Completes Rambus Deal
The bank card networks lengthened their 2019 streak of merger-and-acquisition activity on Tuesday with Mastercard Inc. announcing it has a deal to acquire marketing software developer SessionM and Visa Inc. reporting it completed its acquisition of Rambus Inc.’s token services and ticketing businesses. Mastercard said the addition of SessionM will enhance …
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22 October
Online Merchants Are Starting to Deploy the Big Networks’ Common Buy Button
The long-awaited common buy button became a reality Tuesday with an announcement from the four major payment card networks that they have enabled the technology for three e-commerce merchants. Half a dozen more are expected to come online for the technology, called Secure Remote Commerce, by the end of the …