News

August, 2018

• 2 August

  Global Payments To Buy Medical Software Provider AdvancedMD for $700 Million

  

  Furthering its reach into software services for card-accepting merchants, Global Payments Inc. announced Thursday that it has a deal to buy AdvancedMD Inc., a software-as-a-service provider for 33,000 doctors and 11,000 practices, from Marlin Equity Partners for $700 million in cash. The announcement came as Atlanta-based Global Payments reported second-quarter …
• 2 August

  NuData’s New E-Commerce Service and other Digital Transactions News briefs from 8/2/18

  

  USA Technologies Inc. said Pepsi Bottling Ventures (PBV) has signed a multiyear contract for USAT’s ePort Connect contactless-payment technology covering 13,000 vending machines. PBV is said to be the largest privately held bottler for Pepsi products in North America. NuData Security, a unit of Mastercard Inc., released a service to …
• 1 August

  Will It Or Won’t It? Square Stays Vague on OCC Charter in Second-Quarter Earnings Call

  

  Will Square Inc. apply for a national banking charter, now that the Office of the Comptroller of the Currency has opened the door to financial-technology firms? As of late Wednesday, the answer remains unclear. “We’re really well-positioned to broaden access to the financial system, which is our core purpose,” said …
• 1 August

  Diebold Nixdorf Shares Plunge 34% in Wake of Loss and Worsened Outlook

  

  Shares of Diebold Nixdorf Inc. plummeted 34% in late Wednesday morning trading after the ATM manufacturer and banking and retail hardware and software provider reported an unexpectedly large second-quarter loss and said it is looking to revise its lending agreements in the face of lowered financial predictions. “While revenue was …
• 1 August

  Apple Pay Tops 1 Billion Quarterly Transactions As CVS and 7-Eleven Prepare To Accept It

  

  Apple Inc. said Apple Pay transactions surpassed 1 billion in the company’s third quarter, ended June 30. During an earnings call with analysts Tuesday, Apple chief executive Tim Cook said the 1-billion mark was triple the amount a year ago. “To put that tremendous growth into perspective, this past quarter, …
• 1 August

  First Data Notes E-Commerce Sales and other Digital Transactions News briefs from 8/2/18

  

  E-commerce sales accounted for 30% of the total spend in the second quarter, according to First Data Corp.’s “2018 Payments and Commerce Mid-Year Review.” Overall spending in the quarter increased 4.8% from the same quarter a year ago. By channel, in-store sales increased 4% and e-commerce increased 6.7%. The report …

July, 2018

• 31 July

  Fintech Firms Can Now Apply for National Bank Charters As the OCC Opens the Door

  

  Financial technology firms, many of which command significant positions in the payments business, can now apply to become national banks. Moving on a proposal it’s had under consideration for months, the Office of the Comptroller of the Currency announced on Tuesday it will begin accepting bank-charter applications from fintech firms. …
• 31 July

  Retailers’ Cost of Fraud Keeps on Rising. Now, It’s $2.94 for Every Fraud Dollar, LexisNexis Says

  

  It’s a fact of doing business that retailers have to contend with fraud. Now, the cost of managing fraud has increased, says LexisNexis Risk Solutions in its 2018 True Cost of Fraud report for retailers. For every dollar of fraud, merchants pay $2.94, a figure that is 6% more than …
• 31 July

  Aliant Payment Systems’s In-House Crypto Service and other Digital Transactions News briefs from 7/31/18

  

  E-commerce marketplace and payments-technology provider Shopify Inc. reported revenue for the quarter ended June 30 of $245 million, up 62% year-over-year. Gross payments volume totaled $3.6 billion, up 64% from $2.2 billion in the same quarter last year. Shopify posted a $30.8 million operating loss, nearly double the $15.9 million …
• 30 July

  Kroger’s Foods Co Lobs a Grenade at Visa in the Ongoing Guerrilla War Over Card-Acceptance Costs

  

  Citing acceptance costs, Foods Co, a California unit of leading supermarket chain The Kroger Co., says it will stop accepting Visa credit cards Aug. 14 at 26 stores. “Foods Co is discontinuing the acceptance of Visa credit cards to save on the high costs associated with the credit card company’s …