News

October, 2018

• 5 October

  Carr’s Co-Defendant Settles SEC Insider-Trading Allegations for Nearly $529,000

  

  The co-defendant in the Securities and Exchange Commission’s insider-trading lawsuit against former Heartland Payment Systems Inc. chief executive Robert O. Carr will pay $528,608 to the SEC under a settlement approved Thursday by a federal judge. Katherine M. Hanratty, described as Carr’s long-time girlfriend, neither admitted nor denied the SEC’s …
• 5 October

  Apple Pay Outranks Other Mobile Wallets Among Debit Card Users

  

  Fresh data indicates that most debit card transactions on mobile wallets—77%—are on Apple Pay. Coming from New York City-based Auriemma Consulting Group, which canvassed debit card issuers, the data also found that Samsung Pay and Google Pay accounted for 17% and 6% of transactions. Auriemma suggests one reason for the …
• 5 October

  Carr Co-Defendant Settles With SEC and other Digital Transactions News briefs from 10/5/18

  

  Priority Payment Systems LLC said it is making an online installment-payment service from Sezzle available to its merchants. Sezzle pays the merchant in full, upfront, and assumes all repayment risk. A little more than one week into its managed-payments program, eBay Inc. reported it is working on adding PayPal as …
• 4 October

  Getting Contactless Right Demands a Lot of Basic Blocking And Tackling, Expert Panel Says

  

  It’s no secret contactless payments have struggled in the United States, but less discussed is what needs to be done to boost usage. A paucity of dual-interface cards—EMV plastic that can either be inserted into terminals or tapped on them—is much to blame, but it turns out the answer goes …
• 4 October

  Help With ETA Self-Regulation Program Debuts and other Digital Transactions News briefs from 10/4/18

  

  Among debit card issuers Apple Pay made up 77% of mobile-wallet transactions, Auriemma Consulting Group said in an analysis of mobile wallets. Samsung Pay and Google made up 17% and 6% of transactions, respectively. Rich Consulting and Double Diamond Group launched a suite of services to aid acquirers, independent sales …
• 4 October

  TCH Looks to Connect Thousands of Banks for Real-Time Payments Within the Next Few Months

  

  While the Federal Reserve Board mulls an entry into the business of real-time payments, a major competitor is already racking up impressive gains among U.S. financial institutions. The Clearing House Payments Co. L.L.C., the New York City-based company that, among other services, operates one of only two switches for the …
• 3 October

  The Fed Proposes an Always-On Settlement System for Faster Payments

  

  The Federal Reserve on Wednesday unveiled a proposal to facilitate real-time settlement of faster payments. The Fed said it is not committed to any specific action on its plan, but banks and private-sector payment processors are watching for any infringement on their turf. “Over the past year, we have undertaken …
• 3 October

  SpotOn Buys EmaginePOS and other Digital Transactions News briefs from 10/3/18

  

  Payments and software provider SpotOn Transact LLC  acquired EmaginePOS, a vendor of point-of-sale software for restaurants and bars. Terms were not announced. Business-services provider CSG Systems International Inc. bought Forte Payment Systems Inc., an independent sales organization, for an undisclosed amount. Credit and debit card information of more than 28,000 …
• 3 October

  With a Deadline Two Years Away, Gas Pos Launches To Aid EMV Pump And C-Store Conversions

  

  The EMV liability shift for fuel dispensers may still be two years away, but some are not waiting to get their EMV-compliant products and services installed in convenience stores and fuel stations. Gas Pos launched a service Wednesday that puts EMV-compliant card readers in fuel dispensers and in stores, all …
• 3 October

  COMMENTARY: How a New Ruling Sets the Stage for Surcharging in All 50 States

  

  The national trend of merchants passing on their credit card fees continues to accelerate, aided last week by a federal court striking down Texas’s “no-surcharge” law as unconstitutional. The Texas ruling follows the defeat of no-surcharge laws in Florida and California, but it is a unique milestone: Texas is the …