News

June, 2018

• 15 June

  Already Ahead of Venmo in Dollars, Zelle Is Poised to Jump Ahead in Users, a Forecaster Says

  

  Now officially a year old, Zelle is steadily gaining momentum. San Francisco-based Bank of the West, the 29th largest bank in the country ranked by assets, announced Thursday it will join the bank-controlled person-to-person payment network, which already claims some of the biggest financial institutions in the country. Also this week, …
• 15 June

  JetPay Notes Software Integration and other Digital Transactions News briefs from 6/5/18

  

  JetPay Corp. said Personify Inc., a technology provider for non-profits, has integrated JetPay’s payment-processing platform into its Personify360 system for managing memberships and business functions. In its first-ever fee change, online marketplace Etsy Inc. said it will increase its transaction fee to 5% on July 16 from the current 3.5%. …
• 14 June

  Sensing Strengths, Investors Send Adyen’s Valuation Skyrocketing

  

  Experts have been saying that the payments business is hot, but few suspected it was this hot. The 12-year-old Dutch processor Adyen N.V. gained more ground Thursday on the Euronext Amsterdam exchange before closing the day at 438 euros, or $510, down 3.7%. That’s after finishing on Wednesday, its first …
• 14 June

  Electronic Payments Notes Milestone and other Digital Transactions News briefs from 6/14/18

  

  A survey from The Fraud Practice LLC, commissioned by Kount Inc., found that Apple Pay acceptance among a group of almost 600 merchants decreased to 35% from 48% a year earlier. Google Pay acceptance dropped from 38% to 25%. Support for near-field communication, the wireless technology that enables Apple Pay and …
• 13 June

  Eye on Small Merchants: Wells Simplifies Pricing; First Data Trumpets Clover

  

  Wells Fargo & Co. this week disclosed a simplified point-of-sale pricing plan for small card-accepting merchants, while First Data Corp. touted the strong growth in its Clover line of payment technology for small businesses. At San Francisco-based Wells, which has a joint merchant-processing venture with First Data and is one …
• 13 June

  What Would Legal Sports Betting Look Like? Many Are Turning to Nevada for an Answer

  

  As legislatures eye geysers of tax revenue in the wake of the May 14 Supreme Court decision leaving legal sports betting up to each state, officials wondering how much that haul could be are looking to Nevada. It’s the only state that permits wide-open wagering on a full menu of …
• 13 June

  Overtaking Venmo and other Digital Transactions News briefs from 6/13/18

  

  Investors jumped on shares of Netherlands-based payment processor Adyen Wednesday after the company priced its initial stock offering on the high end of its expected range at €240 ($282.48) per share. As of late morning Eastern time, the stock had more than doubled to €480.30 ($565.31) per share, prompting talk …
• 12 June

  First Data’s Star Debit Network Plans To Challenge Visa and Mastercard for Signature Transactions

  

  Payment processor First Data Corp.’s Star debit network is poised to aggressively challenge Visa Inc. and Mastercard Inc. for a share of the signature-debit market that the global networks have dominated since signature debit became a payment option more than 20 years ago. Star gained a potentially big foothold in …
• 12 June

  Worldpay Tests Dynamic CVV Cards in Anticipation of Broader Availability

  

  Worldpay Inc. is adding another tool for financial institutions in their efforts to curtail the pricey and nuisance-laden aftereffects of rampant data breaches. The company’s solution comes in the form of credit and debit cards that use a dynamic card-verification value. Cincinnati-based Worldpay is testing the Motion Code-enabled credit and …
• 12 June

  The MAG’s Horwedel Prepares To Step Down as CEO

  

  Mark Horwedel, chief executive of the Merchant Advisory Group, an association of more than 100 of the nation’s biggest merchants that concerns itself with payment issues, plans to step down at year’s end. Replacing him will be John Drechny, chairperson of the group’s board of directors and currently senior director …