News

July, 2017

• 21 July

  Visa’s Quarterly Profit Quintuples as Payment Volumes Grow and Expenses Fall

  

  Visa Inc.’s top brass talked at length Thursday about payments opportunities abroad, but they also noted that U.S. payment volumes, particularly in credit cards, did quite well in the quarter ending June 30. “Our global business benefited from an overall healthy economy as payments volume grew in every major region,” …
• 20 July

  Vantiv Disputes Researcher’s Report About Its Merchant Pricing

  

  Vantiv Inc. took the unusual step this week of filing a document with the Securities and Exchange Commission to dispute a research firm’s report about its merchant pricing. The payment processor says the report “claims Vantiv deceives merchants by marking up interchange fees.” The report about Vantiv’s allegedly high and …
• 20 July

  On a Partnership Tear, PayPal Unveils New Agreements, This Time With Chase And Citi

  

  PayPal Holdings Inc. made it clear on Thursday it isn’t done striking deals with banks and other payments companies. Only days after announcing a major partnership agreement with Samsung Pay, PayPal now says it will work more closely with JPMorgan Chase & Co. and the bank’s Chase Pay wallet. And …
• 20 July

  Mastercard Adopts EMVCo Spec in Push To Enable Greater QR Code Payments Use

  

  Mastercard Inc. is expanding the options for merchants and consumers who want to use Quick Response codes for mobile payments. The expansion of Masterpass QR, announced Wednesday, will enable a merchant to scan a QR code generated and displayed on a consumer’s smart phone and process the payment through the …
• 20 July

  Ingenico To Buy Bambora and Reports Slight Turnaround in North American Business

  

  Point-of-sale terminal maker Ingenico Group announced Thursday that it plans to buy Stockholm-based Bambora Group from Nordic Capital for €1.5 billion ($1.73 billion). The acquisition will put under Ingenico’s roof a fast-growing international payments provider that gets 90% of its revenues on a recurring basis. Stockholm-based Bambora counts 110,000 businesses …
• 20 July

  Blackhawk’s Loss Narrows and other Digital Transactions News briefs

  

  Prepaid card provider Blackhawk Network Holdings Inc. said its revenue for the second quarter ended June 17 totaled $463.1 million, an 18.4% increase from $391.2 million in the same period in 2016. The company’s loss of $6.4 million improved from the $11.3 million loss last year. Blackhawk said Target Corp. will be …
• 19 July

  Driven by Zelle And Apple, Mobile P2P Will Hit $244 Billion by 2021, Forecast Says

  

  The forecast for person-to-person mobile payments is a heady one. Expect double-digit growth through 2021, says research firm eMarketer Inc. As more consumers adopt the growing number of P2P payments services, the value of their P2P mobile transactions will increase to $244.03 billion, up 103% from the $120.38 predicted for …
• 19 July

  Eye on Earnings: U.S. Bank’s Merchant Volume Rises; Diebold’s “Very Disappointing” Outlook

  

  U.S. Bancorp on Wednesday reported modestly higher results in its merchant-acquiring unit for the second quarter, while ATM manufacturer Diebold Nixdorf Inc. posted a $31 million loss after lowering its financial projections for the year. Minneapolis-based U.S. Bancorp is the parent company of U.S. Bank and Elavon, the fifth-largest merchant …
• 19 July

  More Financial Institutions Offering P2P Payment Apps and other Digital Transactions News briefs

  

  The U.K. Treasury Ministry has said it is prohibiting merchants from assessing surcharges beginning January 1. Surcharges could be as much as 20% for purchases like a flight, the ministry said in a press release. In 2010, United Kingdom surcharges totaled 473 million pounds ($617 million). “Rip-off charges have no place in a modern Britain and …
• 18 July

  PayPal Gets a Key Boost at the POS Through a Wide-Ranging Deal With Samsung Pay

  

  In a deal that follows months of partnership agreements with other payments companies, PayPal Holdings Inc. on Monday said its PayPal service will become available as a payment method in Samsung Electronics Co. Ltd.’s Samsung Pay wallet. When it goes live, the link is expected to go a long way …