Digital Transactions Authoritative, insightful and timely information for payments professionals
Network Merchants LLC, a technology provider for independent sales organizations, acquirers, and independent software vendors, closed its previously announced acquisition of gateway and EMV technology provider Creditcall for an undisclosed price. Digital cross-border person-to-person remittances will total $300 billion by 2021, up from an estimated $225 billion this year, according …
March, 2018
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2 March
Financial-Industry Standards Body IFX To Combine Operations With NACHA
Automated clearing house governing body NACHA and the Interactive Financial eXchange Forum Inc. (IFX) this week announced they intend to combine their operations. Founded in 1997, the Wakefield, Mass.-based IFX Forum is an international non-profit that developed and promotes the IFX business message specification as an open, interoperable for standard …
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2 March
Nearly 92% of Square’s Transactions Are Being Made With Chip Cards
More than two years after the U.S. migration to EMV chip cards accelerated, evidence of the success of the effort continues to emerge. Merchant acquirer Square Inc. says nearly 92% of the transactions it processed as of December were made with EMV-enabled credit and debit cards. While the advent of …
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2 March
As Faster Payments Draw Near, the Fed Disbands Its Secure Payments Task Force
The Federal Reserve announced Thursday it is shutting down its Secure Payments Task Force this month. The Fed invited its more than 200 members, made up of payments executives from across the financial-services industry, to work with its FedPayments Improvement Community. Members may also participate in “new collaborative industry work …
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2 March
More Equifax Disclosures and other Digital Transactions News briefs from 3/2/18
Equifax Inc. said it expects costs from its massive 2017 data breach to hit $275 million this year, offset by $75 million in insurance proceeds, Reuters reported. The credit-reporting agency also disclosed that another 2.4 million people were affected by the cyber attack in addition to the more than 145 …
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1 March
SignaPay Announces New Products and other Digital Transactions News briefs from 3/1/18
Point-of-sale equipment maker Ingenico Group announced a PIN-on-glass product suite that includes a secure card reader and a back-end verification service. Payments provider SignaPay Ltd. announced two new products, the PayHub Plus Payment Gateway and the PayLo Mynt POS System, which offers a variety of customized point-of-sale software packages. In …
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1 March
With a Fleetcor Pilot, Ripple Gains More Momentum As the SEC Shines a Spotlight on ICOs
Interest among mainstream financial institutions and payments providers in the potential for cryptocurrency is heating up just as the top U.S. financial regulator is reportedly eyeing a crackdown on so-called initial coin offerings, or token sales used by digital-currency startups to raise capital. In the latest sign that processors and …
February, 2018
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28 February
Eye on E-Commerce: Klarna Racks up Gains; PayPal Shuts Down Early In-Store Gambits
Sweden’s Klarna Bank AB enjoyed a good year in 2017, as documented by results the privately held online-checkout and financing specialist released on Wednesday. The firm, which was founded in 2005 and has operated a U.S. unit, Klarna Inc., since 2015, had already achieved distinction by ranking third among so-called …
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28 February
Integration Tasks Emerge Now that the Vantiv-Worldpay Merger Is Official
The merger of payment processors Vantiv Inc. and London-based Worldpay Group plc was completed Jan. 16, and up next for leaders of the combined company is integration of operational platforms, selling products to a wider customer base, and achieving their goal of $200 million in cost savings in three years. …
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28 February
Apple Pay Cash Use at 3% for Younger Users and other Digital Transactions News briefs from 2/28/18
ZipfWorks Inc., owner of online coupon code site Dealspotr.com, released the results of a mobile-payments survey that found that 15% of consumers between 18 and 35 years old used Apple Pay while shopping online. Ten percent of this age group used Apple Pay in a store. It also found that …
