News

February, 2019

• 27 February

  Square Posts Strong Growth for Cash App, Its Entry in the Hot P2P Payments Market

  

  Square Inc. is rapidly growing into a heavyweight player in the hard-fought market for peer-to-peer payments. The San Francisco-based company had 15 million active users in December for its P2P product, Cash App, a number that doubled from December 2017, the San Francisco-based company disclosed on Wednesday. That’s still well …
• 27 February

  Retailers Were Inundated With 10 Billion Credential-Stuffing Attempts In Just Eight Months

  

  Retailers, like many other businesses, have probably had their fill of fraud attempts. Unfortunately, criminals have not. Between May 1 and Dec. 31, 2018, Akamai Technologies detected more than 10 billion credential-stuffing attacks aimed at retailers, accounting for more than a third of all such attempts—28 billion—in that period. In …
• 27 February

  Consumer Finance at the Point of Sale Takes a Big Step Ahead As Affirm Clinches a Walmart Deal

  

  The 7-year-old startup Affirm Inc. has already signed up more than 2,000 merchants to accept its instant-financing option, but on Wednesday it announced it had bagged the biggest one of all: Walmart Inc. In a move that extends Affirm to the physical point of sale in a major way, users …
• 27 February

  CannaTrac Releases Developer Tool and other Digital Transactions News briefs from 2/27/19

  

  CannaTrac, a cashless mobile-payment service for the cannabis industry, released an application programming interface for point-of-sale software developers. JPMorgan Chase & Co. CEO Jamie Dimon told investors the bank’s JPM Coin, a blockchain-based token now in test for intrabank corporate payments, one day could be offered to consumers, Bloomberg reported. …
• 26 February

  Acquiring Banks Outdo Fintechs and Big Processors in Merchant Satisfaction, J.D. Power Finds

  

  For all the talk about financial-technology firms and non-bank processors encroaching on banks’ turf, acquiring banks still outdo the upstarts when it comes to having satisfied merchant customers, according to J.D. Power’s first in-depth study of the merchant-acquiring industry. The online study of 3,500 small businesses nationwide last October and …
• 26 February

  POS Developer Adds Stripe Terminal Support for Card-Present Transactions

  

  SuiteRetail, a Wilmington, Del.-based point-of-sale software developer, completed integration of  Stripe Inc.’s merchant-processing services into its apps, giving merchants the ability to use Stripe for their in-store and online transactions. Merchants using SuiteRetail’s SuitePOS for NetSuite or Salesforce now can complete their online processor and store set-up for Stripe. The …
• 26 February

  A Year Into His Own Merger, Worldpay’s CEO Offers Advice to Fiserv And First Data

  

  The global processor Worldpay Inc. is beating its own expectations in knitting together the assets combined in the huge merger of Vantiv Inc. and Worldpay plc and is looking to make more acquisitions this year, top executives said Tuesday. Speaking to stock analysts to discuss Cincinnati-based Worldpay’s fourth-quarter and full-year …
• 26 February

  Hackers Strike Again and other Digital Transactions News briefs from 2/26/19

  

  Hackers gained unauthorized access to credit or debit card data stored with software company CentralSquare Technologies and used for one-time water-bill payments made through the city of Pompano Beach, Fla.’s Web site from Aug. 30 to Dec. 6, 2018, the South Florida Sun-Sentinel reported. Nearly 3,800 customers made one-time payments …
• 25 February

  Evertec’s Payment Volumes Surge as Hurricane-Ravaged Puerto Rico Recovers

  

  Puerto Rico-based payment processor Evertec Inc. suffered along with the rest of the island when hurricanes Irma and especially Maria swept through in September 2017 and destroyed homes, businesses, and the electrical grid, but now Evertec’s payment volumes are surging as the island recovers. Puerto Rican transaction volumes were up …
• 25 February

  Network Fee Boosts Are Taking a Big Bite out of Merchants’ Durbin Savings, Research Says

  

  A bevy of fees levied by the two major card networks is offsetting much of the fee relief merchants receive from the 7-year-old Durbin Amendment, according to new findings from a payments-research firm that is studying the issue on behalf of the retail industry. While the Durbin caps on debit …