News

July, 2019

• 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 …
• 23 July

  Forget the Rent. Zelle Starts to Claim More Everyday Transactions

  

  The Zelle peer-to-peer payments network is starting to click for the smaller, everyday transfers it was designed to handle. Early Warning Services LLC, the Scottsdale, Ariz.-based banking-technology company that runs the 2-year-old network, reported on Tuesday that Zelle handled $44 billion in volume in the second quarter on 171 million …
• 23 July

  UPDATED: Square Eyes Product Photos As Its Latest Service To Attract And Keep Merchants

  

  Square Inc. is getting into the photography business as yet another way to add auxiliary services beyond payments designed to attract and retain merchants. The new service, dubbed Square Photo Studio, enables merchants, or sellers in Square’s lingo, to ship products to a Square studio in Brooklyn, N.Y., where they …
• 23 July

  A Survey Exposes Consumers’ Ambivalence on Voice-Activated Payments

  

  Whether most consumers will ultimately use Alexa or Siri or some other voice-activated device to make purchases may depend crucially on how much money is at risk.  As it turns out, slightly more than half of U.S. consumers would be comfortable using the technology to pay for relatively small-ticket goods …
• 23 July

  PAX Device Certified and other Digital Transactions News briefs from 7/23/19

  

  PAX Technology Inc. said its S920 mobile point-of-sale device received certification from Verizon and AT&T.U.S. truck fleets are cutting their total fuel expenses by approximately 7% via loyalty programs offered on fuel cards, according to researcher SpendEdge. This benefit in turn is driving growth in the fuel card market, the research firm …
• 22 July

  Hearing Set on Massachusetts Bills That Would Repeal the State’s Cashless-Store Ban

  

  A hearing is set for today on two bills pending in the Massachusetts Legislature that would repeal the state’s decades-old ban on cashless stores. If passed, the bipartisan legislation, which is drawing fire from the ATM industry, would put Massachusetts at odds with efforts this year in a number of …
• 22 July

  Equifax’s Tab for Its Big 2017 Data Breach Will Total at Least $671 Million

  

  Equifax Inc., which in 2017 sustained a data breach that potentially exposed sensitive information related to 148 million files, on Monday announced what that massive intrusion will cost the company. The Atlanta-based credit-reporting agency said it will pay $671 million as part of an agreement to settle multidistrict class-action litigation …