News

August, 2017

• 18 August

  Milestone: Global Payments Launched the VAR/ISV Trend Five Years Ago With its APT Buy

  

  It didn’t get a lot of press at the time, but the acquisition by merchant acquirer Global Payments Inc. of Accelerated Payment Technologies in 2012 proved to be the starting point of big acquirers pairing up with integrated software vendors and value-added resellers to deepen their relationships with merchants. Atlanta-based …
• 18 August

  P20 Group Seeks Worldwide Payments Sway and other Digital Transactions News briefs

  

  A global payments initiative called P20 will convene its first meeting Oct. 10 in London. Government officials and regulators from the United Kingdom and the United States are expected to attend, along with 20 payments-industry leaders. The conference is intended to promote the importance of payments and financial technology to …
• 17 August

  Payments Firms Cancel Accounts for White Supremacist Groups After Charlottesville Violence

  

  In the wake of violent clashes last weekend between white supremacist groups and counter-demonstrators in Charlottesville, Va., payments companies are cutting off access to their systems that supremacist groups use to accept donations. Pressure on the payments firms began building not long after a female counter-demonstrator was fatally struck by …
• 17 August

  Payments Players Urge Further Delay of the CFPB’s Huge Prepaid Rule Until 2019

  

  While the Consumer Financial Protection Bureau is working toward an April 1, 2018, effective date for its massive rule for prepaid accounts, prepaid card industry advocates are urging the agency to further delay the rule by another year. In a comment filed this week with the CFPB, which regulates all …
• 17 August

  Net Element Adds Bot-Payments Support and other Digital Transactions News briefs

  

  Merchant processor and payments-technology provider Cayan has achieved EMV chip card certification with processor Worldpay US, adding to EMV certifications with Chase, Vantiv, First Data, and Elavon. Worldpay’s parent, Worldpay Group plc, will be acquired by Vantiv in a $12 billion deal expected to close early next year. Merchant processor Net Element Inc. said its PayOnline …
• 16 August

  Rescue Bid From Digital-Payments Tech Firm Gives a Big Lift to Digiliti’s Stock

  

  Digital-banking platform developer Urban FT Inc. disclosed early Wednesday that it has made a “compelling offer” for financially troubled Digiliti Money Group Inc., a provider of mobile remote deposit capture services for banks. News of the all-cash offer, whose size wasn’t disclosed, sent Digiliti’s beaten-down stock soaring on the Nasdaq …
• 16 August

  One Year Later, Grocer New Seasons Says Faster EMV Has Made Everybody Happy

  

  It’s been a year since the so-called faster EMV burst on the scene at some grocery stores on the West Coast, and so far officials at the chain that owns the two store brands involved in that launch couldn’t be more pleased with how the technology has smoothed out EMV’s …
• 16 August

  Outback Franchisee Adding More Ziosk Tabletop POS Locations

  

  Ziosk, a tabletop point-of-sale system owned by Tabletop Media LLC, said Wednesday that more than 100 Outback Steakhouse restaurant locations in the Southwest will use its devices. Cerca Trova Restaurant Concepts, the franchisee for Outback restaurants in Arizona, California, Colorado, Nevada, and New Mexico, is expanding the number of locations …
• 16 August

  SWIFT in U.S. Faster Payments Offer and other Digital Transactions News briefs

  

  The international financial-messaging service SWIFT is set to offer a gateway for U.S. financial institutions to link to a real-time payments facility offered by The Clearing House, a payments company owned by major U.S. banks. Team One Credit Union, a Michigan financial institution, has added Bukoski Agency, a fuel retailer, to its …
• 15 August

  Last Year Saw Double-Digit Drops in Fraud Rates for Debit Issuers, Pulse Study Says

  

  There’s some good news for U.S. debit card issuers in the form of reduced fraud rates, according to the 2017 Debit Issuer Study released Monday by Pulse, the electronic funds transfer network owned by Discover Financial Services. The fraud-loss rate for signature-debit transactions fell 30% from 2015’s 2.6 cents per …