News

August, 2018

• 3 August

  On a Hot Streak, the ACH Network Has Racked up 5%-Plus Growth in 12 of the Last 14 Quarters

  

  The growth surge at the nation’s automated clearing house network shows no signs of slowing down. The payments system handled 5.68 billion transactions in the quarter ended June 30, a 6.2% increase year-over-year, according to numbers from Herndon, Va.-based NACHA, the network’s governing body. The network has now notched growth …
• 3 August

  Discover Veteran Hochschild to Succeed Nelms as CEO

  

  Discover Financial Services announced Friday that its No. 2 executive, president and chief operating officer Roger C. Hochschild, will become chief executive on Oct. 1, succeeding long-time chairman and CEO David W. Nelms. Nelms, 57, Discover’s CEO since February 2004, will become executive chairman at that time before retiring in …
• 3 August

  Cash Favoritism Still Benefits Cardtronics, Especially in the Wake of Payment-Network Failures

  

  Cardtronics plc may have been one of the few companies to benefit from Visa Inc.’s June 1 outage in Europe. It notched a record high volume in the United Kingdom, Edward H. West, Cardtronics chief executive and director, told analysts during a conference call Thursday to discuss the ATM deployer’s …
• 3 August

  Chase Activates Cardless ATM Access and other Digital Transactions News briefs from 8/3/18

  

  Chase, a unit of JPMorgan Chase & Co., enabled cardless ATM access at nearly all of its 16,000 ATMs nationwide when consumers use Apple Pay, Google Pay, or Samsung Pay loaded with a Chase debit or Liquid card. In related news, Chase said Los Angeles-area consumers can use Chase Pay …
• 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 …