News

August, 2019

• 19 August

  COMMENTARY: Easy Payments Are Increasingly Vital to Good Customer Experience. Here’s Why

  

  As organizations look to remain competitive in the ever-transforming business space, customer experience (CX) has come to the fore. And those that focus on CX understand that it has to be a priority in every interaction a customer has with the company, from signup and purchase through relationship building, marketing, and …
• 19 August

  Rite Aid Picks BAMS for Processing and other Digital Transactions News briefs from 8/19/19

  

  Rite Aid Corp. selected Bank of America Merchant Services to process transactions at its 2,400 stores nationwide and on its Web site. BAMS processes under an agreement with First Data Corp., now part of Fiserv Inc., though the companies announced July 30 the collaboration will end next year.The 7-Eleven Inc. convenience-store chain has launched in …
• 16 August

  The Money-Transfer Newbies Nip at the Incumbents’ Heels

  

  Relative newcomers to the world of money transfers such as Remitly Inc., TransferWise Ltd., and WorldRemit Ltd., which specialize in end-to-end digital transactions, are nibbling away at the market share of agent-based leaders The Western Union Co. and MoneyGram International Inc., says a new report from research firm Aite Group …
• 16 August

  Cash Still Popular for Low-Value Transactions and other Digital Transactions News briefs from 8/16/19

  

  A CreditCards.com poll found that 49% of U.S. adults usually pay with cash for transactions of less than $10. Thirty-five percent use debit cards and 16% use credit cards. The survey canvassed more than 2,500 adults in July.Eighty-two percent each of Generation X consumers and Baby Boomers buy in-store at least monthly, Blackhawk …
• 15 August

  Square Expands Its Software Platform Beyond Payments With a New Ordering System

  

  Less than a month after getting into the product-photography business, Square Inc. on Thursday said it was opening its software platform beyond payments so that outside developers can create systems for merchants to handle orders. In a post on its developer blog, San Francisco-based Square noted that over the past …
• 15 August

  EMVCo Proposes Spec Changes To Accommodate Longer Issuer IDs

  

  Payment card standards body EMVCo on Thursday disclosed proposed specifications changes to accommodate the coming of longer issuer identification numbers on credit and debit cards, changes that could affect merchants using card numbers to identify their loyalty program members in addition to processing protocols. The changes stem from a revised …
• 15 August

  ETA Picks Software Association Executive as Its Next CEO

  

  The new chief executive of the Electronic Transactions Association will begin work the week of Sept. 3. The Washington, D.C.-based ETA said Thursday Jodie L. Kelley, senior vice president and general counsel at BSA-The Software Alliance, assumes the role vacated in January by Jason Oxman, who left to head up …
• 15 August

  Repay Acquires TriSource Solutions and other Digital Transactions News briefs from 8/15/19

  

  Repay Holdings Inc. announced the acquisition of TriSource Solutions for up to $65 million. TriSource, founded in 2007, provides back-end transaction-processing services to independent sales organizations. TriSource has been Repay’s primary third-party processor for back-end settlement since 2012.The U.S. District Court in Cleveland approved a $4.3 million settlement of a class action filed …
• 14 August

  Priority’s Earnings Tempered by Subscription-Billing Merchant Changes

  

  Priority Technology Holdings Inc.’s total merchant bank card processing volume increased 10.9% in the second quarter, from $9.9 billion to $11 billion, but the merchant acquirer continues to deal with the wind-down of some online subscription-billing merchants. Alpharetta, Ga.-based Priority said Tuesday that the wind-down of the subscription merchants stems …
• 14 August

  After a Quarter Century, E-Commerce Heads Into New Territory

  

  Hard to believe, but e-commerce is a quarter-century old. Along the way, e-commerce radically changed retailing and payments, and now it’s heading into a future with more growth certain but where payments are more in the background. Visa Inc. this week reported in a blog post that the first e-commerce …