News

November, 2016

• 17 November

  COMMENTARY: Cash Is Still King, And Opportunities Are Hidden in Plain Sight

  

  By Danny Shader In October 2016, the Federal Deposit Insurance Corp. released its 2015 National Survey of Unbanked and Underbanked Households, providing valuable insight into the demographics and banking history of the unbanked and underbanked (often collectively referred to as the “financially underserved”). Many are surprised to learn that a …
• 17 November

  CanPay Debuts for Marijuana Purchases and other Digital Transactions News briefs

  • Two merchant organizations have filed a friend-of-the-court brief supporting a U.S. Department of Justice filing that asks the full panel of the Second U.S. Circuit Court of Appeals to hear a 6-year-old case alleging anti-steering rules established by American Express Co. are anti-competitive. A three-judge panel of that court ruled …
• 16 November

  FTC Investigating Visa EMV Routing Practices and other Digital Transactions News briefs

  • The Federal Reserve posted a notice that a payment network violates the debit card transaction-routing requirements in its rule implementing the Dodd-Frank Act’s Durbin Amendment if the network requires a merchant to allow a cardholder to choose an application that routes to only one network during an EMV debit card purchase. …
• 16 November

  U.S. Online Newcomer Klarna Expands Its User Base And Rolls out New Features

  

  By Peter Lucas @DTPaymentNews Sweden-based e-commerce payments provider Klarna continues to expand its footprint in the United States by doubling its user base and adding new features to enhance the user experience. More than 2 million U.S. consumers now use Klarna’s streamlined checkout service, generating hundreds of millions of dollars …
• 16 November

  Visa’s EMV Debit Routing Practices Attract the Attention of the FTC And the Fed

  

  By Jim Daly@DTPaymentNews The Federal Trade Commission is investigating Visa Inc.’s practices involving EMV debit card transaction routing, Visa disclosed Tuesday. And the Federal Reserve earlier this month posted guidance about EMV debit routing that, according to retailer trade groups, was issued in response to their objections to Visa’s practices …
• 16 November

  NFC Rising: The Contactless Terminal Base Expands in North America And Globally

  

  By Peter Lucas @DTPaymentNews By the numbers, at least, merchants appear to be paving the way for mobile and contactless payments to become mainstream in the United States. The installed base of terminals ready for near-field communication in the U.S. and Canada is projected to reach 9.2 million by year’s …
• 15 November

  The Numbers Are In: Same-Day ACH Traffic Meets Expectations in First Full Month

  

  By John Stewart @DTPaymentNews The faster-payments movement in the United States took a key step forward late in September with the automated clearing house network’s adoption of same-day clearing, and now numbers are available for the first full month of faster ACH processing. A total of $4.98 billion on 3.8 …
• 15 November

  Samsung Rewards Marks New Tack for Endearing Consumers to the Samsung Pay Mobile Wallet

  

  Consumers who use their Samsung Pay mobile wallets to make a payment will be rewarded for their transactions with the debut this week of Samsung Rewards. Announced Monday, the program enables consumers to earn points for their Samsung Pay transactions, which can be redeemed for retailer gift cards, prepaid Samsung …
• 15 November

  JetPay Posts 48% 3Q Revenue Increase and other Digital Transactions News briefs

  • Payments-technology provider linked2pay said it and Push Payments, a payments processor, have made real-time payments available on linked2pay’s Bank Centric Payments platform. • JetPay Corp. reported a 48% year-over-year increase in third-quarter revenues to $15.2 million; the processor also reported a net loss of $2.9 million compared with a $1.7 …
• 15 November

  More Than 600 Retailers Urge Congress To Retain the Durbin Amendment

  

  By Jim Daly@DTPaymentNews Merchant trade groups have kept up a steady drumbeat this year in support of the Dodd-Frank Act’s Durbin Amendment with its debit card regulations. But, with Republicans taking full control of the federal government in January, the drumbeat got louder Tuesday when 627 large and small merchants …