News

July, 2018

• 25 July

  Visa Surpasses $2 Trillion in Payment Volume in Its Third Quarter

  

  With economic conditions generally healthy in most of the world, Visa Inc. racked up $2.1 trillion in combined credit and debit payment volume in the quarter ended June 30, an 11.1% increase from $1.87 trillion a year earlier on a constant-currency basis.  The United States, by far the largest of …
• 25 July

  An Integrated Payments Strategy Is Paying Off for TSYS

  

  An integrated payments strategy appears to be paying off for processor Total System Services Inc. (TSYS). The Columbus, Ga.-based company says it signed 45 new integrated payments partners in the second quarter. “Coupled with a strong pipeline of software providers across a diverse set of verticals, we believe this high-growth …
• 25 July

  More Merchants, Not So Much Spending: A Mixed Report on Insider Sentiment on Crypto

  

  When it comes to the potential for Bitcoin and other cryptocurrencies to be a real-world payment method, users, investors, and blockchain executives have a somewhat mixed view on the matter. Asked whether they think more merchants will start accepting crypto this year, 49% agree and 23% strongly agree that they …
• 25 July

  Drone Pay Makes an Appearance on the Payments Radar, but Can It Fly?

  

  Payment processor Worldpay Inc. said Tuesday that it is testing what it calls Drone Pay, a payment system for drone-based package deliveries. “Worldpay’s Drone Pay proof of concept uses EMV contactless payment card technology to verify the identity of the recipient, ensuring a parcel is delivered to the right person …
• 25 July

  CardSavr Gets Voice Update and other Digital Transactions News briefs from 7/25/18

  

  Switch Inc., whose CardSavr application programming interface allows cardholders to manage card-on-file transactions and updates, said it is merging its technology with voice technology to make it possible for consumers to inquire about and update payment data with merchants via voice command. Custom Business Solutions Inc., a reseller of the …
• 24 July

  eBay Adds Apple Pay Acceptance And Square Capital As It Unwinds Its PayPal Connection

  

  Marketplace giant eBay Inc. will add Apple Pay acceptance for consumers and access to merchant funding via Square Inc.’s Square Capital this fall as the San Jose, Calif.-based company works on managing its own payments system. EBay is disengaging from payment services provided by PayPal Holdings Inc. In January, PayPal …
• 24 July

  China’s Alipay Comes to More Than 50 Guess Stores As the Payment Service’s U.S. Expansion Continues

  

  Alipay, the China-based mobile and online payments service, has been active over the past year signing up U.S. merchants, and on Tuesday it announced its latest addition: apparel seller Guess? Inc., which will accept Alipay at more than 50 of its stores in New York City, Las Vegas, and California, …
• 24 July

  Many Consumers Shun P2P Payments To Avoid Fees, Though Few Services Charge Them

  

  The impending demise of Snap Inc.’s Snapcash service comes at a time when peer-to-peer payment services are growing rapidly, but many consumers still remain hesitant to use them. Some of these consumers are confused about pricing, new findings from Fiserv Inc. suggest. Fiserv, a Brookfield, Wis.-based financial-institution processor, on Monday …
• 24 July

  Carr’s Beyond Makes Acquisition and other Digital Transactions News briefs from 7/24/18

  

  Beyond, the payments company started by Robert O. Carr in 2017, purchased Boosterville for an undisclosed amount. The company provides a service that connects nonprofit organizations with local merchants. Boosterville has been rebranded Chip-In. Visa Inc. and wire-transfer provider MoneyGram International Inc. said they teamed up to enable cross-border remittances using …
• 23 July

  Snap Will Pull the Plug on its Snapcash P2P Service

  

  The crowded peer-to-peer payments market will soon become a little less crowded with the impending demise of Snap Inc.’s Snapcash service. Snapcash, which runs on Square Inc.’s P2P payments technology, will end Aug. 30, according to TechCrunch. The Silicon Valley news service said over the weekend that it discovered a …