News

July, 2019

• 30 July

  Eye on Acquiring: An End to the BAMS Joint Venture; Global Payments Updates TSYS Merger

  

  The end of Bank of America Merchant Services, a merchant-acquiring joint venture between Bank of America Corp. and First Data Corp., is at hand.  Charlotte, N.C.-based BofA said Monday it will pursue an independent merchant-acquiring strategy beginning in June 2020, though First Data, which that same day became part of …
• 30 July

  Mastercard’s Transaction Volume Jumps 18%; Secure Remote Commerce and Contactless Payments Gain

  

  Mastercard Inc. saw strong growth in its core business in the second quarter, a time when the network continued its push for contactless cards and development of the new Secure Remote Commerce system for online payments. Mastercard said it switched 21.4 billion transactions globally in the three months ending June …
• 30 July

  100 Million Capital One Accounts Hacked and other Digital Transactions News briefs from 7/30/19

  

  Major credit card issuer Capital One Financial Corp. said it detected a data breach this month in which an intruder gained access to records affecting 100 million persons in the United States and 6 million in Canada. Affected data included such information as names, addresses, Zip Codes, and dates of birth, though …
• 29 July

  Eye on Processing: Shift4’s POS Marketplace And Ingenico’s Partner Program Launch

  

  Two payments players separately have added partner programs to boost their presence among merchants. Shift4 Payments LLC debuted its third-party point-of-sale marketplace with the DoorDash delivery service as a strategic participant. The Shift4 program enables companies like DoorDash to offer their applications to merchants within the Shift4 POS marketplace.  For …
• 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 …