News

October, 2017

• 30 October

  Aiming at Larger Merchants, Square Launches a $999 Point-of-Sale System

  

  Square Inc., which debuted more than seven years ago pursuing micromerchants with a free card reader, launched Square Register, a $999 point-of-sale system designed for larger merchants, it announced Monday. Square Register is a full-sized POS device that has merchant-facing and consumer-facing screens. Also available at $49 a month for …
• 30 October

  Bank Joint Ventures Still Crimping First Data’s Merchant Unit

  Most components of First Data Corp.’s massive merchant-acquiring machine performed well in the third quarter, and the company renewed its acquiring contract with Wal-Mart Stores Inc., the world’s largest retailer. But new merchant referrals from First Data’s joint ventures with three big U.S. banks remain problematic. “These businesses have remained …
• 30 October

  WaveCrests Adds Chips to its Prepaid Cards and other Digital Transactions News from 10/30/17

  

  Payments company PayTrace Inc. launched a browser-based EMV-acceptance service that uses an Ingenico Group EMV card reader and processing from Total System Services Inc. (TSYS). WaveCrest, an issuer of prepaid cards used to pay fleet drivers and reimburse workers, said it has introduced EMV chips on its cards issued in …
• 27 October

  Acceptance Issues, Fear of the Unknown Pull Mobile-Payment Usage Down, Researcher Finds

  

  Consumer use of mobile payments has taken a step back, according to new research from Auriemma Consulting Group. The New York City-based firm found that mobile-payments usage is down 5 percentage points to 25% of consumers surveyed from 30% a year ago. And that decline is expected to continue into …
• 27 October

  Western Union and Mastercard Bring a New Twist to Money Transfers

  

  The Western Union Co. this week positioned itself to fend off competition from peer-to-peer payment services by partnering with Mastercard Inc. to integrate Mastercard Send into its money-transfer service. The service, which is expected to be available in only the United States starting in early 2018, will allow consumers to …
• 27 October

  Revel Systems Inks LevelUp Deal and other Digital Transactions news briefs from 10/27/17

  

  Point-of-sale system provider Revel Systems announced it is working with mobile-payments provider LevelUp to integrate mobile order-ahead, in-store mobile payments, and loyalty service for Revel’s restaurant clients. After more than 50 years in the Houston area, First Data Corp.’s TeleCheck Services unit will vacate its headquarters in suburban Sugar Land, …
• 26 October

  Irish Firm To Acquire Multi-Currency Processor Planet Payment for $250 Million

  

  Two and a half months after announcing it was exploring strategic alternatives, international payment services provider Planet Payment Inc. reported late Thursday that it has a deal to be acquired by Galway, Ireland-based Fintrax Group, a multi-currency processor for international shoppers, for $4.50 per share in cash. The deal values …
• 26 October

  New York City’s Transit Agency Dives Into Contactless Payment Technology

  

  Contactless payments got a big boost Wednesday when the New York City area’s Metropolitan Transportation Authority approved a $539.5 million contract with San Diego-based Cubic Transportation Systems to install a near-field communication-based payment system across all MTA transit and commuter-rail systems that includes open-loop payments. The deal means MTA riders …
• 26 October

  Small Merchants Boost Vantiv as the Processor’s Merger With Worldpay Draws Closer

  

  As its merger with London-based merchant acquirer Worldpay Group plc gets closer, payment processor Vantiv Inc. reported Thursday that it saw strong growth in its merchant-acquiring segment in the third quarter, especially from small and mid-sized merchants. Symmes Township, Ohio-based Vantiv said net third-quarter revenues in its Merchant Services   segment …
• 26 October

  P2P Specialist Zelle Adds Partners and other Digital Transactions News briefs from 10/26/17

  

  Zelle, the person-to-person payments service from bank-owned Early Warning Services LLC, added ACI Worldwide, CGI, D3 Banking Technology, and IBM to its list of processor and technology partners that enable their financial-institution clients to offer Zelle to consumers. Processor Fiserv Inc. said Regions Bank will offer digital money-movement services, including …