News

February, 2019

• 14 February

  The U.S. EMV-Accepting Merchant Base Grew by 400,000 Locations in 2018

  

  The number of U.S. merchant locations accepting EMV chip cards grew nearly 15% in 2018 while EMV payment transactions rose 27%, according to new data from Visa Inc.  In its latest report on the conversion of U.S. general-purpose payment cards from magnetic stripes to EMV chips, Visa says 3.1 million …
• 14 February

  Chase Testing Its Own Cryptocurrency and other Digital Transactions News briefs from 2/14/19

  

  JPMorgan Chase & Co. will within a few months begin testing its own cryptocurrency for wholesale payments between corporations and banks globally, according to CNBC. The new token, called JPM Coin, will be exchangeable at the rate of $1 each. The development may surprise some observers, given the harsh criticism …
• 13 February

  North America Proved Difficult for Ingenico Last Year

  Ingenico Group’s business generated through North American banks and merchant acquirers had a difficult 2018, the company reported Tuesday. Full-year revenues from North America within the Paris-based point-of-sale terminal maker and payment processor’s Banks & Acquirers segment declined 9% year-over-year on a constant-currency comparable basis and 13% as reported to …
• 13 February

  Celebrating a Record 2018, Global Payments Vows to Ride Integrated Payments to Even Bigger Results

  

  Global Payments Inc. on Wednesday credited a technology-centered strategy it has developed over the past six years for record results in 2018. Chief executive Jeff Sloan also pointed to the increasing investments required of payments providers as a leading cause of industry consolidation, in particular the pending merger of industry …
• 13 February

  Kroger Pay Launches and other Digital Transactions News briefs from 2/13/19

  

  Grocer The Kroger Co. launched Kroger Pay and the Kroger Rewards debit card. Kroger Pay, available for iOS and Android mobile devices, is a Quick Response code-based mobile-payment service, which also includes digital coupons and personalized offers. Currently, Kroger Pay is available in Columbus, Ohio, with plans for nationwide expansion …
• 12 February

  Card Expenditures To Top $45 Trillion by 2023, With Contactless Boosting the Total, RBR Says

  

  While global card expenditures will increase 80% to $45 trillion by 2023 from $25 trillion in 2017, growth in the United States will be slow compared to other regions because the U.S. is already a well-developed market, says RBR Research in its “Global Payment Cards Data and Forecasts to 2023” …
• 12 February

  In the Shadow of the Fiserv-First Data Deal, FIS Ponders ‘Actionable’ Acquisitions That ‘Make Sense’

  

  Fidelity National Information Services Inc. expects further processor mergers in the near term and isn’t averse to initiating them in cases where they fit the company’s strategy, its chairman and chief executive said Tuesday morning. “We will always look for opportunities,” said Gary Norcross, who is also president of the …
• 12 February

  Shopify Payment Volume Up 65% and other Digital Transactions News briefs from 2/12/19

  

  E-commerce and payment-services provider Shopify Inc. said fourth-quarter gross payment volume hit $5.8 billion, up approximately 65% from $2.3 billion a year earlier. The net loss narrowed to $1.5 million versus $3 million in 2017’s fourth quarter. Merchant acquirer Elavon in partnership with American Express Co. unveiled a service intended …
• 11 February

  Many Consumers Report P2P Funds Availability Takes a Day or More

  

  Speed is a key selling point for person-to-person payments, but many P2P users aren’t taking advantage of real-time payment capabilities offered by their providers, according to research firm Aite Group LLC. Answers from 693 consumers who had used a digital P2P account to receive money in the 12 months ending …
• 11 February

  ACI Worlwide’s In-Store Payments Tech and other Digital Transactions News briefs from 2/11/19

  

  Payments provider ACI Worldwide launched new, cloud-based in-store technologies for merchant clients as part of the company’s UP Merchant Payments product. The new services are based on ACI’s recent acquisitions of payments-technology firms RevChip and TranSend. Maverick BankCard said its automated clearing house platform is now available. The e-check service …