Digital Transactions Authoritative, insightful and timely information for payments professionals
PayPal Holdings Inc. has posted some important policy changes set to take effect soon, including one that will stop refunding sellers for the commission part of the fee they pay on sales when buyers cancel. Sellers on forums like Reddit have been reacting for at least the last five days …
April, 2019
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8 April
i3 Verticals Buys Net Data for $24 Million and other Digital Transactions News briefs from 4/8/19
i3 Verticals Inc. completed its $24 million acquisition of Northeast Texas Data LLC and Graves Humphries Stahl LLC, collectively known as Net Data, which provides software services, including payment acceptance, to municipalities and local government agencies primarily in Texas. Millersville University adopted the ACI student payment portal from ACI Worldwide …
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8 April
COMMENTARY: It’s Time We Finally Got a True Picture of Acceptance Costs
A recent Forbes article attempted to refute many of the conclusions of a prior Wall Street Journal article that had illustrated how the card schemes (Visa Inc. and Mastercard Inc.) have dramatically increased their fees in recent years. In response, the Forbes article challenged the Journal article by completely changing …
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5 April
Investor Lawsuit Challenges Planned Fiserv-First Data Merger
A First Data Corp. shareholder filed a proposed class-action lawsuit Wednesday challenging the planned acquisition of the payment processor by Fiserv Inc. The $22 billion all-stock merger benefits First Data’s controlling shareholder, the investment firm Kohlberg Kravis Roberts & Co., “to the detriment of the company’s noninsider stockholders,” says the …
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5 April
Nxt-ID Closes in on a Spin-Off of Its Fit Pay Payments And Tokenization Unit
Nxt-ID Inc. is getting closer to spinning off its Fit Pay Inc. unit, which markets the contactless-payment technology behind Garmin Pay and Swatch Pay and also this week began shipping a contactless device to allow consumers to spend their Bitcoin holdings at stores. The spin-off, first announced in September, will …
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5 April
Cardtronics Add Cardless Cash Feature to 11,000 ATMs and other Digital Transactions New briefs from 4/5/19
Cardtronics plc completed the integration of FIS Cardless Cash into 11,000 ATMs and expects to add 8,000 machines over the next several months. Cardtronics and Fidelity National Information Services Inc. (FIS) announced the integration in 2017. Online lending platform OnDeck said it will begin funding small-business clients with same-day credits …
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4 April
Younger Consumers Are Pushing for E-Gift Cards, Blackhawk Survey Finds
Physical gift cards may want to look over their shoulders, so to speak. Digital gift cards are gaining ground, especially among younger consumers, finds new research from Blackhawk Network Holdings Inc., a Pleasanton, Calif.-based gift card specialist. Chief among the results is that 41% of Generation Z consumers, generally those …
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4 April
Checkbook Enlists Visa Direct and other Digital Transactions News briefs from 4/4/19
Checkbook, a provider of digital-check technology, introduced Instant Pay, a service that lets businesses push funds into consumer and corporate bank accounts using Visa Direct, Visa Inc.’s push-payments network. Checkbook’s founder is PJ Gupta, former chief network architect at Visa. First American Payment Systems LP said it now offers Idealpos’s …
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3 April
C-Stores Saw Card-Acceptance Costs Rise Faster Than Sales in 2018
Convenience stores saw their payment card acceptance costs rise nearly 10% in 2018 even though sales increased only 9%, according to data reported Wednesday by the trade association NACS. NACS, formerly known as the National Association of Convenience stores, says credit and debit card fees paid by its members rose …
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3 April
Eye on Crypto: FitPay Starts Shipping Flip; InstaMed Prototypes a Blockchain Payment App
FitPay Inc. has started shipping its contactless, coin-shaped Flip device, which allows users to spend Bitcoin as U.S. dollars at stores. The company said on Wednesday it plans to “ramp up” production of Flip though the first half of the year. The news comes after Fit Pay announced in January …
