News

June, 2017

• 9 June

  After a 12-Year Ride, Changing Market Conditions Spur VeriFone To Ditch Taxis

  

  VeriFone Systems Inc. is best known for its point-of-sale payment terminals, but the company is growing its cloud- and software-based payment products and services. VeriFone also has made a name for itself in payment and media services for taxicabs, but that business is now on the block, company officials announced …
• 8 June

  Mastercard Takes Aim at Small-Business Payments in a Venture With AvidXchange

  

  Payment card networks have for years eyed the broad market for small-business payments, which are still largely executed with paper checks. On Thursday, Mastercard Inc. and payables-automation company AvidXchange Inc. said they will attack that paper mountain with The Mastercard B2B Hub, which will be distributed to small- and mid-size …
• 8 June

  Wal-Mart Entices Credit Card Applicants With Instant Access Via Walmart Pay

  

  Wal-Mart Stores Inc. is giving customers another reason both to take its credit cards and use its Walmart Pay mobile wallet by enabling new cardholders to use their credit accounts immediately upon approval via Walmart Pay rather than having to wait for a plastic card to come in the mail. …
• 8 June

  Washlava Spins a New Way To Pay for, And Use, Laundry Services

  

  Consumers have a new way to get, and pay for, clean clothes with the debut of Washlava. As announced this week, Washlava offers consumers a smart-phone app they can use to reserve washers and dryers, and then pay for that use. The service, another indicator of the increasing incidence of …
• 8 June

  Payment Data Systems’ Singular Acquisition and other Digital Transactions News briefs

  • Merchant processor Payment Data Systems Inc. extended the expiration of its non-binding letter of intent to buy independent sales organization Singular Payments LLC to enable Payment Data to finish its due diligence and Singular to conclude its audit; both companies agreed to the extension, Payment Data said. Terms of the stock and …
• 8 June

  VeriFone Doubles Down on New Products as It Exits the Taxi Business and Retreats in China

  

  By Jim Daly@DTPaymentNews Payment technology provider VeriFone Systems Inc. reported Thursday that it plans to divest its line of products for taxicab payments and media services, and will take a minority interest in a joint venture that will own its current business in China. News of those developments came as …
• 7 June

  Visa Adds 13 Partners to Its Token Service Provider Program

  

  With demand for tokenized payment transactions anticipated to explode in the coming years with the growth of connected devices through the Internet of Things as well as mobile and online payments, Visa Inc. reported Wednesday that it has signed 13 new companies to participate in its token service provider program. …
• 7 June

  Revel Systems Debuts Revel University and other Digital Transactions News briefs

  • Tablet-based point-of-sale provider Revel Systems launched Revel University, an online training service for merchants using its technology. • Payments provider BlueSnap Inc. said merchants using its Powered Buy Platform now can accept Apple Pay transactions. • Nineteen percent of consumers used person-to-person payments through a financial institution in the past 30 days in a …
• 6 June

  The Case for Real-Time Payments Will Have To Be Compelling, An Expert Argues

  

  As the U.S. payments system collectively ambles toward real-time payments, proponents will have to ensure its benefits outweigh those of existing expedited payments options. That’s one recommendation from the “Justifying Real-Time Payments in the United States” report released Tuesday by Maynard, Mass.-based Mercator Advisory Group Inc. The report examines the …
• 6 June

  Gemalto, ThreatMetrix in Product Development Deal and other Digital Transactions News briefs

  • Groundwork, a payments service for school sports, launched its service to let parents use bank accounts or cards to make payments for team expenses. Teams pay a fee of 2% plus 30 cents, with an additional charge for card payments, with all payment communication with parents managed by the Groundwork …