News

February, 2018

• 8 February

  Digital and Other New Services To Drive 7%-Plus Annual Growth in the Prepaid Market, Aite Predicts

  

  The prepaid market can expect to grow more than 7% annually over five years, but unlike its early days in which plastic gift cards and government payments dominated, much of the growth will come from new virtual uses for prepaid products, according to a new Aite Group LLC report. Boston-based …
• 8 February

  Don’t Know About TLS? You, and Your Merchants, Soon Will

  

  A July 1 PCI Security Standards Council deadline is prompting payments providers to act well before then, with many establishing their own compliance deadlines in February. What has provoked this eagerness? It could be that noncompliance with the PCI mandate could halt merchant transactions that rely on the Internet. The …
• 8 February

  Fit Pay Announces Flip, a Wearable for NFC Transactions Based on Bitcoin

  

  It was probably only a matter of time before someone combined contactless payment, wearable devices, and cryptocurrencies. On Thursday, Fit Pay Inc. announced a device that will let users convert digital currency holdings into fiat currency for transactions at any point of sale capable of contactless interaction using near-field communication. …
• 8 February

  Cantaloupe Acquisition Adds 270,000 Connections to USA Technologies’ Network

  Fresh from its $85 million acquisition of Cantaloupe Systems Inc., USA Technologies Inc. reported Thursday that it added 311,000 net new connections to its network of vending machines and other unattended card-accepting merchant locations in the quarter ended Dec. 31. Approximately 270,000 of the new connections came from Cantaloupe, a …
• 8 February

  Apptizer App Integrated into Verifone Carbon and other Digital Transactions News briefs from 2/8/18

  

  Payment-processing hardware and software provider VeriFone Systems Inc. said the Apptizer mobile order-ahead app is now integrated with its Verifone Carbon point-of-sale devices. In related news, VeriFone said Helsinki-based Euroloan Group Plc’s Mash application is now integrated into the Verifone Connect system, enabling consumers to select a pay-later option when …
• 7 February

  Fraudsters’ First Love: Signature Debit Cards

  

  Criminals target signature-based debit cards for fraud attempts far more than any other payment method, according to new findings from the Federal Reserve Bank of Minneapolis. The Minneapolis Fed’s survey last summer, which garnered responses from 283 banks and credit unions across the country, found that more than 90% of …
• 7 February

  ProPay Launches Payment Network for Software-as-a-Service Firms

  

  ProPay, a unit of Total System Services Inc. (TSYS), announced the debut of the ProPay Payment Network Wednesday. The service targets software-as-a-service providers and aims to make it easier for them to make payments among merchants, marketplaces, affiliates, consultants, and partners. TSYS says it does that through a single point …
• 7 February

  Consumer Cynicism Climbs in a ‘Runaway Year for Fraudsters,’ a Report Finds

  

  Thanks to the seemingly unending epidemic of data breaches—capped by the huge breach last summer at credit-reporting titan Equifax Inc.—consumers are becoming both more aware and more cynical about the problem, according to research released Tuesday by Javelin Strategy & Research. In the wake of the Equifax case, in which …
• 7 February

  GCF Buys Paper Systems and other Digital Transactions News briefs from 2/7/18

  

  Point-of-sale products seller General Credit Forms Inc. said it purchased Paper Systems Inc., a manufacturer of paper rolls for POS and ATM systems. Paper Systems will continue to operate as PSI. Terms were not disclosed. Euronet Worldwide Inc., which is based in the United States but operates ATM and other …
• 6 February

  Shift4 Payments Makes Three Acquisitions in Hospitality POS

  

  Shift4 Payments LLC, owner of the Harbortouch point-of-sale service, announced Tuesday it purchased three POS brands specializing in hospitality payments. Restaurant Manager, POSitouch, and Future POS are now part of Shift4 Payments. Terms were not disclosed. The acquisitions add 90,000 merchants to Shift4 Payments’ portfolio, and include customers such as …