News

May, 2019

• 13 May

  Priority Technology Focuses on Growing Segments as Subscription-Billing Business Shrinks

  

  Transaction and dollar volume for Priority Technology Holdings Inc. managed to grow in the first quarter despite the downsizing of the merchant processor’s formerly large online subscription-billing business. Alpharetta, Ga.-based Priority reported Monday that merchant bank card processing volume rose 8.8% to $9.9 billion versus $9.1 billion in 2018’s first …
• 13 May

  PayByCar Allies With P97 on a Pilot for Gas Purchases Using E-ZPass Toll Tags

  

  A system that allows drivers to pay for gasoline at the pump using their E-ZPass toll tag took a step forward Monday with an announcement that P97 Networks Inc., a provider of in-vehicle payments services, will resell the PayByCar service from Verdeva Inc. Houston-based P97 says it has certified PayByCar …
• 13 May

  SurchX Debuts Online Surcharge Service and other Digital Transactions News briefs form 5/13/19

  

  SurchX, a surcharging specialist, launched SurchX for e-commerce platform Magento. SurchX automatically calculates surcharges and fee structures based on card type and jurisdiction. The fee can be passed on for the consumer to pay. Payments provider ACI Worldwide said its real-time payments technology is supporting BMO Financial Group’s efforts to …
• 10 May

  Demand for Dual-Interface Cards Contributes To Big U.S. Growth at CPI Card Group

  

  Boosted in part by growing card-issuer demand for chip cards that support both contact and contactless payments, card manufacturer CPI Card Group Inc. on Thursday reported a 32% first-quarter increase in sales of U.S. credit and debit cards. Littleton, Colo.-based CPI didn’t specify how much dual-interface cards, which can handle …
• 10 May

  The Acquiring Industry Wonders if BofA and First Data Are Heading To Divorce Court

  

  A report that Bank of America Corp. might not renew its joint merchant-acquiring venture with leading payment processor First Data Corp. left observers wondering Thursday what the break-up of one of the payments industry’s biggest players would mean for the companies involved, and the wider industry. The joint venture, Bank …
• 10 May

  Cardlytics Monthly Users Increase 85% and other Digital Transactions News briefs from 5/10/19

  

  Cardlytics Inc., a company that uses purchase data to help financial institutions manage their rewards programs with retail partners, reported its count of monthly active users reached 108.5 million in the first quarter, up 85% over the first quarter of 2018, as users from new clients JPMorgan Chase & Co. …
• 9 May

  Green Dot’s Shares Tumble After Management Announces a $60-Million Plan

  

  Green Dot Corp. saw its shares plummet Thursday morning after its chief executive late Wednesday surprised stock analysts with a plan to invest $60 million later this year in initiatives aimed at expanding the company’s reach into new markets for banking services. At mid-morning, the Pasadena, Calif.-based payments company was …
• 9 May

  ACI Acquires Western Union’s Walletron Mobile Bill-Presentment Business

  

  In an effort to boost its electronic bill-payment offerings, payments-technology provider ACI Worldwide Inc. on Thursday announced its second recent acquisition from The Western Union Co., this one of mobile bill-presentment provider Walletron Inc. Today’s announcement came at the same time Naples, Fla.-based ACI said it will complete its previously …
• 9 May

  BofA Mulls Ending First Data JV and other Digital Transactions News briefs from 5/9/19

  

  Bank of America Corp. is considering not renewing its merchant-acquiring joint venture with First Data Corp., known as Bank of America Merchant Services, when the contract ends in June 2020, The Wall Street Journal reported, citing unnamed sources. BAMS is the nation’s third-largest acquirer, having processed $840 billion in payment …
• 8 May

  NCR Says Its Integration of Processor JetPay Into Its POS Systems on Track

  

  Integration of JetPay, the processor NCR Corp. bought for $184 million in 2018, into NCR’s point-of-sale systems will be more broadly available in the second half of 2019, NCR said Tuesday. NCR intended to marry JetPay with its POS systems, including NCR Silver and Aloha, in an effort to offer …