News

June, 2019

• 11 June

  The Launch of a Cross-Border Transfer Network Helps Fuel Visa’s Drive Into Non-Card Payments

  

  Visa Inc. on Tuesday furthered its ambitions to expand beyond card payments with the commercial launch of a cross-border network that leverages blockchain technology to help manage business-to-business transfers. The network, called Visa B2B Connect, starts out with coverage of more than 30 so-called global trade corridors and plans to …
• 11 June

  Sterling Card Acquired and other Digital Transactions News briefs from 6/11/19

  

  Private-equity firm Acuity Capital Partners LLC acquired specialty gift card manufacturer Sterling Card Solutions, according to Sterling’s financial advisor, the investment bank Capstone Headwaters. Terms of the deal were not disclosed. Besides gift cards, Sterling makes hotel key cards, identification cards, phone cards, and other products. Half the world’s population, …
• 10 June

  Return Fraud Is a Source of Increasing Worry for Retailers

  

  Retail loss-prevention executives say fraud is increasing the most inside stores, but nearly a third say fraud is rising the most in online-only sales and more than 20% say it’s going up the most in multi-channel sales. The findings come from the Washington, D.C.-based National Retail Federation’s newly released National …
• 10 June

  With the New Common Buy Button, Don’t Look for a Payoff Any Time Soon, a New Report Warns

  

  The news that the major payment card networks will implement a standardized buy button later this year may have stirred hopes among issuers, merchants, and acquirers that the longstanding problems of rising e-commerce fraud and inconsistent checkout flows will finally be addressed. But already cautionary notes are emerging to indicate …
• 10 June

  Publix Adding Payments to App and other Digital Transactions News briefs from 6/10/19

  

  Publix Super Markets Inc. is adding a payments feature to its mobile app, first with a version for iOS devices and later for Android devices, according to The Ledger in Lakeland, Fla. Publix has 1,218 grocery stores in the Southeast, including 800 in Florida. Amazon.com and Synchrony Financial launched the …
• 7 June

  Networks Say SRC Will Go Live Later This Year to Simplify—And Secure—Digital Checkouts

  

  A standards body controlled by the major card networks released on Friday a long-awaited standard aimed at simplifying and securing consumer checkouts on the Web and in apps. By mid-morning, American Express Co., Discover Financial Services, and Mastercard Inc. had announced they intend to implement the spec later this year. …
• 7 June

  Stripe Backs Step Mobile and other Digital Transactions News briefs from 6/7/19

  

  Step Mobile Inc., a startup financial-services firm focusing on teens, raised $22.5 million in a Series A funding round led by payment processor Stripe Inc. Nearly 51% of retailers surveyed for the latest annual loss-prevention and security report from the National Retail Federation said risks and threats from return fraud, …
• 6 June

  Square Aims to Declutter the Restaurant Point of Sale—And Stay Ahead of Merging Competitors

  

  Merchant processor Square Inc. is making it easier for its restaurant clients to use third-party delivery services, while at the same time fortifying itself against bigger merchant acquirers slated to merge into even bigger ones. San Francisco-based Square, which has its own restaurant delivery, pick-up, and catering service called Caviar, …
• 6 June

  Global Growth Leads to Nearly 41 Million Terminals Accepting Contactless, Researcher Says

  

  With last week’s introduction of contactless card acceptance on New York City subway and bus systems, hopes are riding high on mass transit to at last stimulate contactless acceptance and usage in the United States. Now recent research indicates acceptance is picking up rapidly pretty much everywhere.  The number of …
• 6 June

  Discover CFO Retiring and other Digital Transactions News briefs from 6/6/19

  

  Discover Financial Services chief financial officer R. Mark Graf will retire in early 2020, Discover announced. Graf joined Discover in 2011. The company has hired an executive-search team to find his successor. American Express Co. enhanced the rewards package on its Gold Card; cardholders will now get 4-times Membership Rewards …