Digital Transactions Authoritative, insightful and timely information for payments professionals
• Vantiv Inc. has agreed to provide processing services to McCoy Federal Credit Union in central Florida. Services include ATM, debit, and credit card processing as well as MobiMoney, a feature that lets customers use their mobile device to turn cards on and off and receive alerts. • The U.S. …
October, 2016
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4 October
ATM Fees Are Up, But Consumers Have a Wider Selection of Free Checking Accounts
By Peter Lucas@DTPaymentNews Consumers continue to pay higher fees for out-of-network ATM transactions, but have more access to free, non-interest checking accounts, says Bankrate Inc.’s annual survey of checking-account fees. Combined surcharges levied by
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3 October
Total Merchant Services Offers up to 85% Residuals with New POS System
The demand for point of sale systems continues to expand as businesses seek to accept all payment types, manage inventory and compete for customers. To meet the growing demand, many payment processors have developed their own POS solutions, with varying degrees of success. To date, very few providers …
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3 October
Dip or Swipe? A Year Later, Most Consumers Still Have POS Confusion About EMV
By Kevin Woodward@DTPaymentNews A year into the migration to EMV chip cards, most consumers—83%—still are unsure of whether to dip or swipe their chip-enabled credit or debit cards at the point of sale. That statistic comes from a survey of 1,000 U.S. consumers commissioned by payments specialist Cayan and conducted …
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3 October
They’ve Got an App, But How Innovative Are the Top Banks in Offering Mobile Services?
By John Stewart @DTPaymentNews For years, pundits have said consumers trust banks more than any other entity when it comes to payments options, but that doesn’t mean financial institutions are always delivering the most innovative services. Now a review of mobile-banking and -payments offerings indicates even the nation’s biggest banks …
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3 October
Eye on Acquisitions: Cardtronics Buying DCPayments; MetaBank Acquires EPS Financial
By Jim Daly@DTPaymentNews The first business day of 2016’s fourth quarter produced several announcements about payments-industry acquisitions. In the biggest, globe-trotting ATM network operator Cardtronics plc will gain a toehold in the Asia-Pacific region by acquiring Canadian ATM firm DirectCash Payments Inc. (DCPayments) for $460 million. Meanwhile, Meta Financial Group …
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3 October
DCPayments Buys First Data’s Australia ATMs and other Digital Transactions News briefs
• ATM network operator Cardtronics plc announced it plans to buy Canadian ATM operator DirectCash Payments Inc. (DCPayments) for $460 million; DC Payments operates 25,000 ATMs and will give Cardtronics its first presence in Australia and New Zealand and expand its operations in Canada, the United Kingdom, and Mexico. • …
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1 October
NACHA Wants Banks to Know More About Third-Party Senders
As the automated clearing house network gets set to start a process that will over time speed up all ACH credit and debit transactions to same-day settlement, the ACH’s governing body late this summer took an important step toward controlling the risk posed by certain non-bank players that stand between …
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1 October
As Hackers Press Their Attack, Cybersecurity Funding Tails off
Even though the payments industry is undergoing an unprecedented attack by fraudsters, funding of cybersecurity startups by top investors will drop somewhat this year compared to 2015, according to the latest data from CBInsights, a New York City-based firm that tracks venture-capital investment. Total cybersecurity funding deals this year are …
