Digital Transactions Authoritative, insightful and timely information for payments professionals
PayPal Holdings Inc. says it has lent $50 billion to American consumers since it bought the BillMeLater lending service 11 years ago. The company also advanced its efforts to generate revenues from its Venmo peer-to-peer payment service by making subscription payments to the Tidal music-streaming service available through Venmo. Now …
February, 2019
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5 February
Repay And Payment Data Systems Separately Put Push Payments in the Spotlight
The concept of push payments is finding favor among payments providers as two companies separately announce new disbursement services. Atlanta-based Repay said its Instant Funding service enables organizations to send funds directly to eligible Visa Inc. debit and prepaid cards via Visa Direct, the network’s real-time debit service. Repay’s lending clients, …
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5 February
Revel Releases Two Product Lines and other Digital Transactions News briefs from 2/5/19
Point-of-sale technology provider Revel Systems released two new product lines, Revel Enterprise, for multilocation businesses, and Revel Essentials, aimed at restaurants and businesses with 20 or fewer locations. Shift4 Payments renamed its payment-management platform Lighthouse Transaction Manager. Formerly Dollars on the Net, the service enables merchants to access transaction reporting, …
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4 February
Restaurants’ Own Apps Command Most Digital Orders, Research Indicates
When the technology emerged, mobile ordering was thought to be a natural for the restaurant industry, and now there’s some research showing just how popular these apps have become. It turns out that, from 2013 through 2017, digital orders at restaurants grew at an average annual rate of 23%, and …
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4 February
USAT’s ePort Connect Coming to Air Vending Service and other Digital Transactions News briefs from 2/4/19
USA Technologies Inc. agreed to provide its ePort Connect contactless-payments technology for air-vending machines deployed by CSC ServiceWorks Inc., a supplier of commercial washers and dryers, with 1.4 million laundry machines in service. Upserv, a payments provider specializing in hospitality, adopted the TM-m30 receipt printer and TM-U220 kitchen printer from …
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3 February
New Jersey Lawmakers Pass Bill To Protect Cash-Paying Consumers
New Jersey legislators last week passed a bill with overwhelming support to prevent businesses from banning consumers from using cash for purchases. The bill, which now goes to Gov. Phil Murphy for his signature, would make New Jersey only the second state to protect cash-using customers in stores. The proposed …
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1 February
Going by Share Prices, Investors Like What They See in the Massive Fiserv-First Data Deal
Fiserv Inc. and First Data Corp. argue their proposed $22 billion combination will usher in a processing behemoth that should create substantial operating efficiencies and economies of scale. And so far, investors are buying that story. Shares of both companies are up by double-digit percentages since the Jan. 16 announcement …
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1 February
Same-Day and P2P Volumes Boom on the ACH While Back-Office Conversions Stage a Comeback
Growth on the automated clearing house network continued apace in 2018’s fourth quarter, boosted by same-day transactions, person-to-person payments, and online commerce. The massive network linking nearly all of the nation’s financial institutions tallied 5.97 billion transactions, up 8.7% from 5.49 billion a year earlier. It was the network’s fastest …
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1 February
Elavon Plans To Hire 500 More Employees and other Digital Transactions News briefs from 2/1/19
Elavon, the Atlanta-based merchant-acquiring subsidiary of U.S. Bancorp, says it plans to hire approximately 500 employees globally over the next three years. Elavon currently employs more than 730 people in Atlanta and more than 4,500 worldwide. BlockChyp Inc., a payment software and gateway provider, said it completed Level 3 certification …
January, 2019
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31 January
Mastercard Issuers Jumping on the Contactless Card Bandwagon
So far, Visa Inc. has dominated the headlines regarding the U.S. conversion to contactless payment cards. Mastercard Inc., however, will soon be getting into the act. “In the U.S., contactless momentum continues to grow on both issuing and acceptance sides,” Mastercard president and chief executive Ajay Banga said Thursday. “We …