Digital Transactions Authoritative, insightful and timely information for payments professionals
Data-communications provider Transaction Network Services acquired R2G Services, a Chicago-based provider of a market-data and managed-hosting platform; terms were not disclosed. Payment processor Repay Holdings LLC, which private-equity firm Corsair Capital acquired in 2016, said it has a definitive merger agreement with Thunder Bridge Acquisition Ltd., a special-purpose acquisition firm …
January, 2019
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23 January
Microsoft Wallet: Barely There in Mobile Payments, and Soon To Be Gone for Good
Microsoft Corp. says it plans to retire its Microsoft Wallet mobile app, a distant also-ran in the mobile-wallet market, on Feb. 28. The disclosure came in a brief recent post on a company Web site. “Starting on Feb. 28, 2019, the Microsoft Wallet app will be officially retired,” the post says. …
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23 January
Online Processor Stripe Recruits Funding Circle to Extend Fixed-Rate Loans to Merchants
Stripe Inc. has recruited peer-to-peer financing provider Funding Circle to extend loans to merchants using Stripe to process payments. The London-based lender has joined the Stripe Partner Program, allowing merchants to apply for loans up to $500,000 by uploading data that can support their application. San Francisco-based Stripe says it …
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23 January
Chase Adds Another Contactless Card and other Digital Transactions News briefs from 1/23/19
JPMorgan Chase & Co.’s Chase credit card unit and the Marriott International Inc. hotel chain introduced a contactless cobranded card, the Marriott Bonvoy Boundless card, to replace the Marriott Rewards Premier Plus card. American Express Co. announced the rebranding of its current portfolio of cards for customers of Marriott International Inc.’s …
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22 January
Seeing Big Revenue Potential in Payments, Mitek Suitor Turns Its Eye on eBay
The activist hedge fund behind the move to take remote deposit capture software provider Mitek Systems Inc. private said Tuesday that it has acquired a 4% stake in eBay Inc. and is advocating for changes to improve the online marketplace’s profitability, including through payments opportunities. New York City-based Elliott Management …
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22 January
Target, Taco Bell, And Other Chains Are the Latest to Sign up for Apple Pay
Apple Inc. on Tuesday announced Target Corp., Taco Bell, and two regional chains are the latest merchants to agree to accept Apple Pay in-store, a development that could bolster the mobile-payments service and further smooth the road for contactless payments in the United States. Separately, Target announced it will also …
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22 January
Integrating Fiserv and First Data Could Take Up to a Decade, Report Says
The proposed mega-deal that has Fiserv Inc. buying First Data Corp. for $22 billion presents integration issues that could take up to 10 years to iron out, according to a new report. “The integration of two companies of this scale will undoubtedly be a challenge—the short-term shock will take more …
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22 January
Mastercard’s $648 Million Fine and other Digital Transactions News briefs from 1/22/19
The European Commission, the European Union’s antitrust regulator, fined Mastercard Inc. €570.6 million ($648.2 million) for restricting merchants’ ability to sign with an acquirer in another EU single-market country with interchange rates lower than rates in the merchant’s home country before December 2015, when regulations capped EU interchange. The Commission …
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21 January
Most Merchants—78%—Experience Fewer Chargebacks Under New Visa Rules, Says One Survey
Almost a year after Visa Inc. altered the chargeback-resolution process, merchants are reaping some of the benefit. A survey of 500 Chargeback Gurus merchants found that 78% have fewer chargebacks under the Visa Claims Resolution program. “The first goal was to streamline the dispute process,” Suresh Dakshina, Chargeback Gurus president, …
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21 January
Adyen Founders’ Good Fortune and other Digital Transactions News briefs from 1/21/19
The two co-founders of online transaction processor Adyen are now billionaires thanks to last week’s market upturn, according to Forbes. Chief executive Pieter van der Does holds a 4.8% stake in the company, which went public last year. Arnout Schuijff, chief technology officer, holds a 6.4% interest. Among Adyen’s U.S. …
