News

August, 2019

• 26 August

  Why Mobile Payments Don’t Deliver for Merchants

  

  Mobile payments so far account for a mere 2% or less of U.S. general-purpose card payments, according to some estimates, and that’s no surprise to some executives who believe mobile payments haven’t delivered for many merchants. “I don’t think anyone in the market is solving problems for the retailers,” Laura …
• 26 August

  Instant Payments Give Citigroup’s CitiConnect APIs a Lift

  

  Launched in November 2016, the CitiConnect set of application programming interfaces for payments and related functions is gaining traction, particularly from companies supporting instant-payment services in Asia and Europe, Citigroup Inc. reported Monday. The New York City-based global banking giant said CitiConnect has processed 157 million API calls, or requests …
• 26 August

  COMMENTARY: Visa Next’s Installment APIs Solve Only Part of the Problem

  

  Following Klarna’s recent raise of $460 million looking to expand its payments presence in the United States, and Mastercard Inc.’s recent acquisition of Vyze, the consumer-finance space is heating up with the big players of the finance world entering the arena. It is a further indication of the importance of easily …
• 26 August

  Shift4’s New Tableside Device and other Digital Transactions News briefs from 8/26/19

  

  Shift4 Payments LLC released Tableside, a new order- and pay-at-the table point-of-sale device. Tableside integrates with multiple Shift4 POS systems, including Harbortouch, Restaurant Manager, Future POS, and POSitouch. Additional integrations are expected.Payment Alliance International said it acquired ATM operator Eclipse Cash Systems for an undisclosed amount. Eclipse operates more than 15,000 ATMs, …
• 23 August

  Adyen Says It’s Ready to Take on the Majority of eBay’s Volume Next Year

  

  PayPal Holdings Inc.’s shares dipped slightly late  Thursday after a key Adyen N.V. executive told stock analysts that the Amsterdam-based company is “ready” to process “the majority” of eBay Inc.’s volume when eBay shifts to Adyen next year. Adyen also reported it is proceeding with an application for a banking license …
• 23 August

  Eye on Cryptocurrency: Libra Backers Getting Cold Feet? Settlement in Alleged Crypto Pyramid Scheme

  

  Several backers of Facebook Inc.’s proposed Libra cryptocurrency are having second thoughts because of regulatory pushback, according to a British newspaper report. Meanwhile, the Federal Trade Commission announced settlements Thursday with four defendants accused of falsely promising big returns to consumers who paid in cryptocurrencies to participate in an alleged …
• 23 August

  Wisconsin May Consider Requiring Cash Acceptance and other Digital Transactions News briefs from 8/23/19

  

  Despite very few stores in Wisconsin refusing to accept cash payments, a member of the state Assembly recently introduced a bill that would require merchants to accept cash for face-to-face purchases, the Milwaukee Journal-Sentinel reported. The bill would impose fines of $200 up to $5,000 for violations. Similar proposals have passed or are pending in …
• 22 August

  Contactless Gets Another Boost With Mass Transit’s Embrace of Tap-And-Pay in Miami

  

  Is 2019 turning into the year of contactless payment for mass transit? Miami-Dade County announced Wednesday it has started accepting contactless cards and mobile wallets at gates at 23 commuter train stations, with plans to include bus fares later this summer. The move follows New York City’s adoption in May …
• 22 August

  Bank App with P2P Payments Debuts and other Digital Transactions News briefs from 8/22/19

  

  N26 Inc., the U.S. unit of German bank N26 GmbH, launched its mobile-banking app that includes MoneyBeam, a person-to-person payment service between N26 bank customers. Accounts also include a Visa debit card.Merchant processor Net Element Inc. said its Unified Payments subsidiary is providing Internet of Things payment services in the property-management market …
• 21 August

  Data Breaches Are on a Record-Setting Pace in 2019, Researcher Says

  

  The year 2019 is shaping up to be the worst year yet for data breaches, according to a recent report from Risk Based Security Inc. Through the year’s first half, 3,813 breaches were reported, up 54% from a year earlier. Those breaches exposed more than 4.1 billion consumer records, up …