Digital Transactions Authoritative, insightful and timely information for payments professionals
After two delays, processor Vantiv Inc. and London-based merchant acquirer Worldpay Group plc finally announced a formal deal Wednesday that has Vantiv acquiring Worldpay in a deal that creates a global processing powerhouse. The cash and stock deal values Worldpay at $12 billion, a 34% premium to Worldpay’s six-month volume-weighted …
August, 2017
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9 August
Green Dot Provides Some Details About its Role in the Upcoming Apple P2P Service
Prepaid specialist Green Dot Corp. released more details about its role in Apple Inc.’s upcoming person-to-person service in its Messages app. Apple announced the new feature in June and is expected to make it available this fall with an update to its iOS software for iPhone and iPads. Pasadena, Calif.-based …
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9 August
Less Cash Use Triggers ATM Contract Re-Bid and other Digital Transactions News briefs
Declining use of cash at Atlanta’s Hartsfield-Jackson International Airport has prompted the Atlanta City Council to re-bid a contract for banking services at the world’s busiest airport after only one bank, SunTrust, responded to the original proposal, the Atlanta Journal-Constitution reported. The incumbent, Wells Fargo, claims ATM revenues have declined and that its …
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8 August
After CardFree’s Suit Against LevelUp, the Mobile Specialists Trade Salvos in Court Filings
Litigation between CardFree Inc. and Scvngr Inc., better known as LevelUp, has taken a nasty turn in recent weeks, with LevelUp accusing CardFree of high-pressure tactics outside the courtroom and CardFree charging LevelUp with more instances of fraudulent access to its mobile order-ahead-and-pay system. In its June 21 answer to …
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8 August
With High and Low Spots, Open-Loop Prepaid Loads To Top $353.6 Billion by 2020: Report
Overall, the forecast is strong for open-loop prepaid cards—loads are expected to reach $353.6 billion by 2020—but not every segment will partake in the growth. That’s the assessment in a new report from Mercator Advisory Group Inc. Open-loop cards, which can be used at most merchants and carry a major …
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8 August
Wells Fargo Merchant Services Sued and other Digital Transactions News briefs
Worldpay has asked for second extension, this time to Aug. 11 after a first one to Aug. 8, of a British regulatory deadline as Worldpay and Vantiv Inc. executives put the finishing touches on Vantiv’s proposed $9.9 billion buyout offer for the London-based merchant acquirer. Reuters reported that the companies expect to announce a final …
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7 August
Transactions Bloom on First Data’s Clover Devices, but Merchant-Acquiring Ventures Lag
First Data Corp. executives Monday highlighted rapid growth in the processor’s Clover Network line of tablet-based point-of-sale devices, and also said attrition has come down significantly among small merchants. Not so hot are First Data’s joint merchant-acquiring ventures with big banks, but the company insists their revenue softness is only …
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7 August
Marriott Will Accept Alipay As Part of an Ambitious Joint Venture With China’s Alibaba
Chinese tourism abroad has already taken off, and it’s expected to grow ever larger in coming years, lifting sales for merchants in the United States and other parts of the world. The latest company to set itself up to cash in on the trend is Marriott International Inc., which on …
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7 August
Eye on Acquiring: Vantiv Debuts an API; ExaDigm Launches a Hospitality Terminal
Merchant processor Vantiv Inc. on Monday launched triPOS Cloud, a cloud-based application programming interface intended for independent software vendors and merchants looking to integrate payments with point-of-sale systems. As an API, triPOS Cloud enables developers to integrate payments functions with a few pieces of code. The service incorporates encryption and tokenization, …
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7 August
MoneyGram Reports Earnings and other Digital Transactions News briefs
MoneyGram International Inc. reported second-quarter revenue of $410 million, flat with 2016’s second quarter on a constant-currency basis. Digital money-transfer revenue increased 10% and now accounts for 15% of total money-transfer revenue. Net income doubled to $6.2 million. In May, MoneyGram shareholders approved a merger of MoneyGram with Ant Financial Services Group, …
