News

July, 2019

• 29 July

  Mastercard Jumps Into the Anti-Ransomware Fight by Joining Europol’s NoMoreRansom Initiative

  

  Mastercard Inc. has become the first payment card network to join the NoMoreRansom initiative sponsored by Europol, a support-services organization for law-enforcement agencies in the European Union. Europol says the 3-year-old NoMoreRansom public-private partnership project has helped 200,000 ransomware victims recover their computer files free of charge and has prevented …
• 29 July

  Fiserv-First Data Deal Closes and other Digital Transactions News briefs from 7/29/19

  

  Fiserv Inc. formally announced the closing of its $22-billion, all-stock acquisition of processing giant First Data Corp.MagTek Inc. said its DynaPro Go PIN pad now offers Bluetooth LE connectivity. The company also launched its iDynamo 6 mobile card reader that works with iOS, Android, and Windows operating systems.Utah’s Deer Valley Resort said it detected malware on May …
• 26 July

  Worldpay Shareholders OK FIS Merger and other Digital Transactions News briefs from 7/26/19

  

  Shareholders of payment processor Worldpay Inc. this week voted overwhelmingly in favor of the company’s planned merger with Fidelity National Information Services Inc., which is expected to close in the third quarter.The Bancorp Inc., owner of The Bancorp Bank, a major prepaid card issuer, reported gross dollar volume on the bank’s prepaid cards …
• 25 July

  Now That First Data Is Part of Fiserv, Strategies Emerge to Reinforce Banks’ Role in Payments

  

  In what may be the biggest anticlimax in their careers, employees at First Data Corp. will walk into their offices Monday morning as employees of Fiserv Inc. And if Fiserv chief executive Jeffery Yabuki’s ambitions prove fruitful, the combined company will play a leading role in fending off nonbanks like …
• 25 July

  POS Payments Provider Revel Systems Debuts a Reseller Program

  

  Cloud-based point-of-sale system provider Revel Systems Inc. launched the Revel Solution Partner program in an effort to get more merchants using its POS systems. Announced Thursday, the program sees qualified resellers managing the complete sales process for Revel Essentials, the San Francisco-based company’s POS system for small and mid-size businesses. …
• 25 July

  Fiserv-First Data Deal Will Close Monday and other Digital Transactions News briefs form 7/25/19

  

  First Data Corp. and Fiserv Inc. expect to close Monday on Fiserv’s $22-billion acquisition of First Data. The deal, announced in January, has received final required regulatory approvals and non-objections, First Data said. First Data announced $2.49 billion in revenue for the second quarter, up 2% year-over-year.A group of Congressional Democrats, including presidential …
• 24 July

  P2P Sizzles for PayPal, Though a Snarled Integration Delays Its Entry Into Bill Pay

  

  PayPal Holdings Inc.’s payments juggernaut shows no signs of weakening, but the company has found its latest product integrations bedeviled by slowdowns, forcing it to postpone some expected revenue. One such integration with bill-payment specialist Paymentus Corp. is a crucial one because it will allow PayPal to enter an enormous, …
• 24 July

  Facebook Is Prepared for ‘However Long It Takes’ To Get Libra Approved, Zuckerberg Says

  

  Facebook Inc. chief executive Mark Zuckerberg says his massive social-networking company is using an open process to get its proposed Libra cryptocurrency into the market and won’t roll it out until all concerns are addressed. Zuckerberg fielded questions about the controversial Libra project at the company’s second-quarter earnings conference call …
• 24 July

  Discover Payment Volume up 8% and other Digital Transactions News briefs from 7/24/19

  

  Discover Financial Services’ Payment Services unit reported its transaction volume grew 8% year-over-year to $61.8 billion, a result that included 7% growth for its Pulse electronic funds transfer network. Overall, total Discover revenue net of interest expense increased 10% to $2.85 billion, while net income jumped 13% to $753 million.In related …
• 23 July

  Visa’s Bullish on Contactless And Franchise-Broadening Acquisitions, Cautious on Libra

  

  Visa Inc.’s net income jumped by a third in the quarter ended June 30, a period when the leading payment card network’s global transaction volume rose nearly 12% and the company completed or announced several acquisitions to broaden its franchise. Visa chairman and chief executive Alfred F. Kelly Jr. told …