Digital Transactions Authoritative, insightful and timely information for payments professionals
The total number of Visa Inc. credit and debit cards bearing an EMV chip numbered 408.1 million at the end of December, Visa announced Thursday. That’s a 2.1% increase from the 399.9 million tally at the end of November. Of the total, 219.4 million are debit cards and 188.7 million …
January, 2017
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26 January
The Fed’s Faster Payments Task Force Nears the End of Its Proposal Reviews
The Federal Reserve’s Faster Payments Task Force is in the final stages of reviewing 19 proposals to speed up U.S. electronic payments, Fed executives tell Digital Transactions News. The faster-payments initiative is part of the Fed’s broader Payment System Improvement project that also addresses security and efficiency issues. The Fed …
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26 January
‘We’re Just Scratching the Surface,’ CEO Schulman Says As PayPal Posts Strong Results
PayPal Holdings Inc. finished its first full calendar year separated from eBay Inc. with a tone that suggests a bit of swagger. “It was a landmark year for PayPal,” chief executive Dan Schulman told stock analysts Thursday afternoon. “We introduced a host of innovations. We bring to our merchants an …
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25 January
Eye on Earnings: Discover’s Networks Post Varying Results; TSYS’ Revenues Up 58%
Total dollar volume on Discover Financial Services’ networks increased 2% in the fourth quarter to hit $80.2 billion versus $78.8 billion a year earlier, but results varied among the company’s payment operations. Riverwoods, Ill.-based Discover reported Tuesday that the Discover credit card unit posted proprietary volume of $34 billion, up …
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25 January
Tim Hortons Getting Order-Ahead App and other Digital Transactions News briefs
• A survey released by RestaurantOwner.com, a resource enterprise for independent restaurant owners, found that the average cost of a restaurant POS system is $13,344, compared with $18,000 in 2012. Only 10% of the 1,190 respondents said they use pay-at-the-table devices, and only 31% used EMV-compliant systems. • Restaurant Brands International, parent company …
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25 January
Launched in September, Same-Day ACH Posted 13 Million-Plus Transactions in 2016
The nation’s automated clearing house network handled more than 13 million same-day transactions worth almost $17 billion between Sept. 23 and the end of the year, according to statistics released Wednesday by NACHA, the rulemaking authority for the ACH. Wednesday’s release represents the second time NACHA has issued numbers for …
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24 January
NCR Silver Gets an Update That Reduces Needed Taps And Eschews the Home Page
By Kevin Woodward@DTPaymentNews NCR Corp. on Tuesday unveiled a redesigned app for its NCR Silver iPad-based point-of-sale system that eliminates 33 taps from the transaction process and skips the home page in favor of a fly-out menu.
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24 January
Remote Deposit Capture Provider Cachet Financial Solutions Seeks Equity and a New Name
Cachet Financial Solutions Inc., a small tech company best known for providing remote deposit capture services to banks and credit unions, is trying to raise nearly $14 million in new equity to shore up its finances while pivoting toward prepaid cards and facing a legal deadline to rebrand. In a …
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24 January
Most Pay Bills Online and other Digital Transactions News briefs
• Fifty-six percent of all bills in the U.S. are paid online at a biller, bank, or third-party site, according to data from ACI Worldwide and Aite Group. Of these, 72% are now paid at biller sites. • Digital-payments company Proxama PLC has agreed to provide payments services to clients of payment …
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24 January
Biller Bill-Pay Sites Crush Bank Sites While Both Camps Look to Faster-Payment Offerings
In the battle over online bill payments, biller sites have been beating bank and third-party sites handily, but now the battle has turned into a rout. Biller sites accounted for fully 73% of online bills paid by consumers last year, up from 62% in 2010, according to a report released …
