Digital Transactions Authoritative, insightful and timely information for payments professionals
Marking Apple Pay’s third anniversary, an Apple Inc. executive Sunday night outlined an ambition to make the wallet usable in a wide range of what the company calls “everyday” events in people’s lives. “This [Apple Pay] is the future of everyday spend,” declared Jennifer Bailey, vice president for Internet services …
October, 2017
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19 October
Tokenization Gets a Boost as The Clearing House Signs on To Manage Mastercard Tokens
The Clearing House, a major player in U.S. payments, is getting deeper into the tokenization business through a new pact with Mastercard Inc. New York City-based The Clearing House and Mastercard announced Thursday that TCH has become a Mastercard-certified third-party Token Service Provider (TSP). As such, TCH will be able …
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19 October
While Lauding a Strong Quarter, PayPal Brass Looks to ‘Monetize’ Venmo And Launch NFC
With Venmo accounting for a swiftly growing share of PayPal’s total payment volume, the company’s top brass left no doubt on Thursday they are eager to start making the peer-to-peer payment service start paying its way. “We [now] begin to monetize Venmo,” PayPal chief executive Dan Schulman told equity analysts …
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19 October
First Data Buying BluePay and Other Digital Transactions News briefs from 10/20/17
First Data Corp. made it official: it is acquiring merchant processor BluePay Holdings Inc. for $760 million in cash. BluePay processes $19 billion annually for 77,000 merchants and is integrated into more than 450 software platforms. The deal is expected to close by the end of the year. First Data inadvertently …
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19 October
Mastercard Scrubs Its Signature Requirement for POS Transactions
Mastercard Inc. is doing away with a rule requiring merchants to get signatures for transactions made with its credit and debit cards in the United States and Canada. Announced early Thursday, Mastercard’s rule change goes into effect April 13, 2018, allowing issuers, merchants, and processors time to make adjustments, though …
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19 October
Visa ID Intelligence Aims To Be A Digital Authentication Hub
Issuers, merchants, and processors all share the same dilemma when attempting to authenticate an online identity. They are bedeviled by personally identifiable information easily accessible to criminals that they can use to spoof authentic consumers. In response, Visa Inc. on Thursday announced the Visa ID Intelligence service, which it says …
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19 October
The Clearing House Gets TSP Certification and other Digital Transactions News briefs from 10/19/17
From the Oops Department: First Data Corp. early Thursday quickly removed from its Web site an inadvertently posted press release saying it had a deal to acquire independent sales organization BluePay Holdings Inc. “First Data confirmed that it is currently in discussions with BluePay with respect to a potential transaction, …
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18 October
Chase To Acquire WePay in a Play for ISVs and New Merchants
JPMorgan Chase & Co. is making a big move into the world of independent software vendors and payment facilitators with a planned acquisition of WePay Inc. that the nation’s largest bank announced late Tuesday. Redwood City, Calif.-based WePay develops payments-related application programming interfaces (APIs) for software developers to put into …
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18 October
BIM Brings an ACH-Payment Option to Phillips 66, Conoco, and 76 Gas Stations
Consumers using the Phillips 66, Conoco, or 76-branded smart-phone apps soon will be able to pay for fuel using their checking accounts thanks to an integration with Buy It Mobility Networks, a New York City-based payment and customer relationship management platform. Announced Tuesday, the service will be available soon, says …
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18 October
CPI Receives Card Patents and other Digital Transactions News briefs from 10/18/17
For U.S. Bancorp’s Elavon unit, merchant-processing revenues were down slightly in the third quarter, to $405 million, compared to a year ago, according to the bank’s earnings release. But revenue year to date is up 0.2%, at $1.19 billion, compared to the same period in 2016. Payment card manufacturer CPI …
