News

July, 2016

• 12 July

  Retailers Urge House to Reconsider Bills That Would Repeal the Durbin Amendment

  

  More than 120 retailers sent a letter Tuesday to the U.S. House of Representative’s Financial Services Committee urging the panel to reconsider two measures that would repeal the Durbin Amendment in 2010’s Dodd-Frank Act. The bills stand virtually no chance of becoming law while Barack Obama remains president, but with …
• 12 July

  Gravity Chief Executive Wins Court Case and other Digital Transactions News briefs

  • More than 120 retailers, including Wal-Mart, Target, Kroger, Best Buy, and 7-Eleven, signed a letter urging the U.S. House of Representative’s Financial Services Committee to reconsider the elimination of the Durbin Amendment that would happen if two pending bills become law. • After a three-week trial, a Superior Court judge …
• 11 July

  A Report Shows How Credit Card Declines Eat in to Recurring-Payments Revenue

  

  Fourth-quarter transaction decline rates for credit and debit cards used for subscription payments increased to 15.9% from a first-quarter 2015 low of 14.4%, based on the value of the transaction, according to a report from Recurly Inc., a recurring-payments specialist. The “Recurly Subscription Snapshot,” which analyzed 25 million recurring payments …
• 11 July

  The NRF Says Many EMV-Ready Retailers Are Waiting Months for Needed Certifications

  

  A new National Retail Federation survey found that 57% of retailers that had installed EMV chip card terminals in their stores claim they’ve been waiting for up to six months or even longer to get their equipment certified. Conducted in May and June, the survey also found that 48% of respondents …
• 11 July

  Seamless Mobile Wallet Adds NFC Support and other Digital Transactions News briefs

  • Early Warning Services LLC said the three latest banks to start offering real-time person-to-person payments on its clearXchange network are Capital One, Chase, and Wells Fargo. ClearXchange members Bank of America and U.S. Bank had already introduced the service. As things stand, Chase customers can send and receive payments …
• 11 July

  In Acquiring, a Slow Pace of Change Masks Rapid Run-up in Growth for Newer Models

  

  The acquiring business is accustomed to a slow rate of change, but that deliberate pace is masking radical underlying shifts in how merchants handle payments and whom they deal with for processing services, according to research at First Annapolis Consulting, Annapolis, Md. Change comes so slowly in this business that …
• 8 July

  Rosie Looks to Add EBT And PayPal to Its Shopping App As Another Grocer Signs Up

  

  A central Illinois grocery-store chain will expand online and add mobile payments beginning this fall. The service enables consumers to use credit and debit cards along with electronic benefits transfer cards to pay for orders, says Ithaca, N.Y.-based Rosie Applications Inc., the vendor providing the technology. The move by Quincy, …
• 8 July

  Wendy’s Data Breach Affected 1,000 Locations and other Digital Transactions News briefs

  • A payment card data breach reported in May by the hamburger chain Wendy’s Co. was much more extensive than originally thought, the company said Thursday, according to Reuters. Wendy’s now says the breach affected approximately 1,025 stores, or about 18% of the company’s U.S. and Canadian units. In May, …
• 7 July

  With Acquirers in M&A Crosshairs, Rumors Surface That Moneris’s U.S. Arm Is in Play

  Moneris Solutions USA, the U.S. arm of Canada-based Moneris Solutions Corp., appears to have suitors, according to a recent Bloomberg.com report. Moneris is a joint venture between RBC Financial Group and BMO Bank of Montreal. Bloomberg.com reports that merchant processor Vantiv Inc. and Warburg Pincus LLC, a New York-based private …
• 7 July

  Former MasterCard Exec To Take on UniRush Helm and other Digital Transactions News briefs

  • ATM network operator Cardtronics plc announced organizational changes that include chief financial officer Edward H. West taking on the additional role of chief operations officer and North American Business Group president David Dove leaving the company later this year. Jonathan Simpson-Dent, who had been managing director of Cardtronics Europe, …