News

February, 2018

• 1 February

  With Uncle Sam’s Tax Cut in Place, Visa Expects a $1 Billion Windfall

  

  North America’s largest payments company on Thursday said it expects to receive a $1 billion bonus from the federal tax-reform bill passed into law in December. In contrast with its rival Mastercard Inc., which reported earlier in the day it recorded an $873 million charge in the fourth quarter related …
• 1 February

  Regulatory Efforts May Be Quiet at the Federal Level, But Not So In States And the Courts

  

  Federal regulatory initiatives targeting the payments industry may have abated, but a variety of others at the state level and in the court system could require reactions from payments providers. That’s the word from Scott Talbott, senior vice president of government affairs, who spoke Wednesday at the annual Northeast Acquirers …
• 1 February

  Mastercard Takes $873 Million One-Time Tax Hit; Lands Cabela’s Cobranded Card

  

  Mastercard Inc. took an $873 million, one-time charge in 2017’s fourth quarter related to the new federal tax law, and the company reported Thursday that the cobranded Cabela’s Visa card will switch to the Mastercard brand. The Tax Cuts and Jobs Act that President Donald Trump signed into law in …
• 1 February

  Square Expands Bitcoin Service and other Digital Transactions News briefs from 2-1-18

  

  PayPal Holdings Inc.’s stock was trading down about 7.5% as of mid-morning Thursday, hours after an announcement from eBay Inc. that the big marketplace will shift transaction processing from long-time provider PayPal to Netherlands-based processor Adyen. EBay’s business accounts for about 13% of PayPal’s volume, a share PayPal said Thursday …

January, 2018

• 31 January

  For PayPal, a New Deal Extends Its Link to eBay Even As It Seeks Out Other Marketplaces

  

  PayPal Holdings Inc. on Wednesday said it has reached an agreement with its former owner, eBay Inc., that calls for PayPal to act as a checkout method on eBay for three years beyond the end of the five-year pact that separated eBay and PayPal in 2015. In that three-year period, …
• 31 January

  Bank-Owned Zelle Puts Venmo’s Millennial Enthusiasts Squarely in Its Cross-Hairs

  

  Payments observers who think Venmo and Square Cash have locked up the Millennial crowd for peer-to-peer payments may have to reconsider. With the new advertising blitz it announced Monday, the bank-owned Zelle service is making it plain it plans to steal its share of this huge consumer market. “The advertising …
• 31 January

  Mobile-Capture Deposit Limits Rise for Consumers as Banks Eye Under-Penetrated Small Businesses

  

  Banks and credit unions across the board are increasing deposit limits for mobile remote deposit capture transactions, and with the consumer remote-capture market mostly conquered, financial institutions are turning their attention to small businesses. Those are two highlights from RemoteDepositCapture.com’s 2017 study of the mobile-capture market. The Alpharetta, Ga.-based publishing …
• 31 January

  AmEx Acquires Mezi and other Digital Transactions News briefs from 1-31-18

  

  Processor Fiserv Inc. reported that its Accel debit network has added new transaction-routing options, including the ability to process signature-based transactions. Wal-Mart Stores Inc. is using the new signature service, Fiserv said. Accel also will make signatures optional for merchants beginning in April, as are the four general-purpose card networks. …
• 30 January

  Advocates Look to EMV Fuel Pumps And Contactless Cards for Advances in Payments Tech

  

  The U.S. Payments Forum on Monday reported that the vast majority of large U.S. merchants now accept EMV chip cards. With the conversion to chip from the old magnetic-stripe payment technology at the point of sale now over the hump, though still far from complete, advocates are looking at fuel …
• 30 January

  Chenault Joins Another Board and other Digital Transactions News briefs from 1-30-18

  

  UATP, which is owned by and provides payment processing for many of the world’s airlines, said it is now accepted for U.S. ticket purchases on Expedia, Orbitz, and Travelocity. General Catalyst announced that soon-to-retire American Express Co. chief executive Ken Chenault has joined the venture-capital firm as chairman and a …