News

August, 2017

• 4 August

  ATM Kingpin Cardtronics Is Undeterred by Rising Cashless Payments—So Far

  

  Evidence is emerging that efforts to convince more consumers to use contactless payments instead of cash for low-value transactions may be having an impact, at least in countries other than the United States for now. That’s the take from Cardtronics plc, the giant ATM operator that owned nearly 45,000 U.S. …
• 4 August

  First Data and Fleetcor Technologies Scuttle Their Planned Prepaid Pair-Up

  

  Citing possible regulatory hurdles, payment processor First Data Corp. and commercial payments provider Fleetcor Technologies Inc. disclosed Thursday that they have canceled the planned joint venture they announced in March to consolidate their gift card businesses. “While both companies believe the proposed joint venture would provide significant benefits to customers …
• 4 August

  The Latest Funding Data Show Artificial Intelligence Is Turning Out To Be Very Real

  

  Artificial-intelligence technology, on which a number of payments applications have begun to rely over the past year or so, just keeps getting hotter. Nearly 700 funding deals for AI startups were concluded in 2016, up 33% from 2015, according to a report released this week by CBInsights, a New York …
• 4 August

  National Merchants Association Selects Gateway and other Digital Transactions News briefs

  

  Payments provider National Merchants Association announced it is using the PhoeniXGate gateway from Phoenix Managed Networks. Fleetcor Technologies Inc., a vendor of commercial-payment technology, reported second-quarter results, including a year-over-year increase of 29.5% in total revenue to $541.2 million and GAAP net income of $131 million, up 12.7%. The Western Union Co. reported …
• 3 August

  Square’s New Cash Card and Loans Grow Along With Payment Volume

  

  Merchant acquirer Square Inc. increased its presence among consumers in the second quarter with the June rollout of its physical Square Cash Card, a Visa debit card, and the launch of a test in which Square provides loans to customers of its merchants. Both developments occurred as Square’s gross payment …
• 3 August

  Global Payments to Acquire Active Network for $1.2 Billion; Sees Profits Rise Nearly 8%

  

  Global Payments Inc. said Thursday that it has a deal to buy two major divisions of Active Network LLC, a growing event-management software provider and payment processor, for $1.2 billion from a private-equity firm. The merchant acquirer also reported its second-quarter financials, which include a nearly 8% year-over-year increase in …
• 3 August

  Though Trending Down, Bitcoin Cash Is Already Number 4 Among Cryptocurrencies

  

  Bitcoin Cash, the Bitcoin offshoot that debuted Tuesday, already ranks as the fourth-largest cryptocurrency by market capitalization. But by Thursday morning its value had taken a beating over the previous 24 hours. By mid-morning, Bitcoin Cash, which trades on digital-currency exchanges under the symbol BCH, was priced at just over …
• 3 August

  Retailer Chooses Ingenico and other Digital Transactions News briefs

  

  Ingenico Group said retailer City Furniture is using Ingenico mobile point-of-sale readers and software services as part of its new POS system used in its 27 stores. Payment card manufacturer CPI Card Group Inc. reported second-quarter sales of $65.8 million, down 10.7% from the same period last year. Its net loss was $2.2 …
• 2 August

  Just One in Four Apple Pay Transactions Come From the U.S.

  

  Apple Inc.’s Apple Pay service continues to roll out in foreign countries, so much so that 75% of its transaction volume is coming from abroad, according to Apple’s chief financial officer. Apple Pay, which uses near-field communication technology for contactless payments with the iPhone and Apple Watch wearable device, was …
• 2 August

  Among Payments Fintechs, Software and Infrastructure Providers’ Stocks are the Priciest

  

  Payments software and infrastructure companies rank third among 24 financial-technology sectors when viewed through the lens of stock price and earnings while point-of-sale device manufacturers rank 23rd, according to a new analysis from an investment firm. The study by San Francisco-based Financial Technology Partners covers scores of publicly traded global …