News

April, 2019

• 25 April

  Acquirers Becoming Issuers:
  The Evolution of Merchant Services

  

  Until recently, Merchant Acquiring and Card Issuing processes were at different ends of the spectrum. However, ingenuity, competitive pricing for merchant services, and an opportunity to better serve the growing number of new businesses are resulting in a confluence of acquiring and issuing in the payments industry.  Acquirers are now …
• 24 April

  Venmo Has More Than 40 Million Users, But It Remains a Tough Margin Puzzle for PayPal

  

  There’s much more to PayPal Holdings Inc. than Venmo, but that’s where the payments industry’s spotlight has shone in recent months. So on Wednesday, PayPal for the first time revealed how many active users its peer-to-peer transfer service has: 40 million plus. Venmo users rang up $21 billion in volume …
• 24 April

  Visa’s OK With Pending Mega-Mergers in the U.S. Payments Industry

  

  The pending acquisitions of two leading merchant processors by two leading core financial-institution processors are a “good thing,” Visa Inc. chief executive Alfred F. Kelly Jr. said Wednesday.  “We’ve got very good relationships and a lot of history with all four of these players,” according to Kelly. His comments came …
• 24 April

  Zelle Posts $39 billion in P2P Payments on a 72% Transaction Increase

  

  The bank-sponsored Zelle person-to-person payment service continued on its growth trajectory in the first quarter, with transaction volume up more than 70% and payment volume rising more than 50%. Zelle provider Early Warning Services LLC reported Wednesday that first-quarter payment volume hit $39 billion, a 54% increase from just over …
• 24 April

  TSYS Signals Progress for Its Vital Line of Small-Business Processing Services

  

  Total System Services Inc. (TSYS) late on Tuesday said it has now deployed “thousands” of its new Vital point-of-sale devices, which were launched in January. The product is “showing strong out-of-the-gate momentum,” said M. Troy Woods, TSYS’s chief executive, during a call with stock analysts to discuss the Columbus, Ga.-based …
• 24 April

  KeyBank Issuing Contactless Cards and other Digital Transactions News briefs from 4/24/19

  

  KeyBank said it has begun issuing contactless-enabled Mastercard credit and debit cards. Diebold Nixdorf Inc. said KeyBank will upgrade its network of 1,400 ATMs with Diebold’s DN Vynamic portfolio of software applications that includes ATM management and more options for customers, including selection of bill denominations. Payments provider CCBill LLC announced …
• 23 April

  Bleumi Combines Stablecoins And Blockchain for a Cross-Border Remittance Service

  

  Blockchain startup Bleumi Inc. announced Tuesday it has launched two services, Bleumi Pay and Bleumi Invoice, for cross-border remittances. Bleumi Pay, a gateway that works with so-called stablecoins to avoid the price volatility afflicting cryptocurrencies like Bitcoin. The gateway will allow businesses and merchants to receive payments via Web site, …
• 23 April

  Moneris’s POS Software and other Digital Transactions News briefs from 4/23/19

  

  Payments provider Moneris Solutions Corp. launched Moneris Core, software that will run its new Verifone and Ingenico countertop devices. Point-of-sale software developer SpectrumSoft Inc. selected Electronic Payments and its TableTurn restaurant-management platform as a preferred vendor for payment-processing services. Business-to-business e-commerce payments provider Resolve Corp. announced that it has spun …
• 22 April

  How an Old Standard Could Trip Up a New Generation of Contactless Payments

  

  The surprising revelation by J.C. Penney Co. Inc. over the weekend that it had ceased acceptance of contactless payments unmasked the little-noticed ability of contactless mobile wallets to work with point-of-sale technology that far predates them but which Visa Inc. wants banished. The blend of old and new has worked …
• 22 April

  Smart payment solutions:
  What is the payments industry doing to keep up?

  

  We’ve come to expect certain levels of safety, security, and convenience when it comes to payments. Today, consumers are using their phones, watches, and even their cars to pay for various goods and services. Recently, the Mercedes-Benz Stadium, home of the NFL’s Atlanta Falcons and MLS’ Atlanta United, switched to …