Digital Transactions Authoritative, insightful and timely information for payments professionals
The Department of Finance Canada on Thursday issued its latest merchant-friendly announcement regarding payment cards, this one disclosing agreements with Visa Inc. and Mastercard Inc. for an average 10-basis-point reduction in credit card interchange for small and mid-size businesses to take effect in 2020. The department also said American Express …
August, 2018
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10 August
Apple Pay Use Increases With A Lot of Growth Internationally in Users And Transactions
More than 252 million iPhone owners globally use Apple Pay, a figure that equates to 31% of the active iPhone base, says Loup Ventures, a Minneapolis-based venture-capital firm. A year ago, the figure was 25%. That growth mostly is coming from international consumers, who Loup Ventures says account for 85% …
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10 August
Following Mastercard’s Crypto Patent, Intuit Wins One for Bitcoin Transfers Via Text Messages
Bitcoin’s volatility may have dampened the payments industry’s enthusiasm for the cryptocurrency, but payments players are now reaping patent awards for Bitcoin-related inventions they filed years ago. The latest example is Intuit Inc., the Mountain View, Calif.-based company behind the popular Quicken and QuickBooks accounting programs for consumers and small …
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10 August
i3 Verticals Reports $84.5 Million in Revenue and other Digital Transactions News briefs from 8/10/18
Payments provider i3 Verticals Inc. reported revenue of $84.5 million in its fiscal third quarter ended June 30, a 27.5% increase from $66.3 million a year ago. It had a loss of $655,000, compared with net income of $887,000 last year. This marks the first earnings results for the company …
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9 August
CPI Card Group’s Results Improve Amid Double-Digit Prepaid Card Revenue Growth
Payment-card maker CPI Card Group said Thursday that new sales from an existing customer boosted its U.S. prepaid debit card revenue 26% in the second quarter. Littleton, Colo.-based CPI also reported that sold its United Kingdom business to private-investment firm SEA Equity for $4.5 million. With revenue of $15.4 million …
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9 August
Worldpay Finishes First Full Quarter of Combined Operations With $1 Billion in Revenue
Having completed its first full quarter of operation on June 30, Worldpay Inc. on Thursday reported just over $1 billion in net revenue for the period from business lines that include merchant processing, technology services, and card-issuer support. That’s up 11% from what Vantiv Inc. and Worldpay Group plc would …
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9 August
57% of In-Store Transactions Are Chip-on-Chip and other Digital Transactions News briefs from 8/9/18
Citing data from the global payment card networks, the U.S. Payments Forum reported in its latest update on the conversion from magnetic-stripe to EMV chip card payments that approximately 57% of in-store card transactions are now “chip-on-chip,” meaning an EMV point-of-sale terminal read an EMV card. Also, acceptance of contact …
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8 August
With Some Fast-Growing Programs, Green Dot Hopes Its BaaS Becomes a Whale
Green Dot Corp. executives played up their “banking-as-a-service” platform Wednesday as the company reported strong second-quarter growth in most of its business lines, but they said little about the support they provide for Apple Inc.’s Apple Pay Cash service. Pasadena, Calif.-based Green Dot supplies the virtual prepaid card that customers …
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8 August
Fresh From Its IPO, EVO Payments Looks for Expansion Opportunities Abroad
EVO Payments Inc. is hunting for new international markets as it continues to see growth in its U.S.-based business with independent software vendors, company executives said Wednesday during the merchant processor’s first earnings conference call as a public company. Founded in 1989 as an independent sales organization, Atlanta-based EVO in …
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8 August
From Spear Phishing to POS Malware, a Security Expert Lays Out His Six Most Worrisome Threats
Malicious attacks on payments systems come in a bewildering array of shapes and sizes, making it a nettlesome problem figuring out which types of attack require the most defensive resources. Yet, the stakes could be highest in the United States, where the average cost per breach, at $225, is one …
