Digital Transactions Authoritative, insightful and timely information for payments professionals
Merchant processor iPayment Inc. announced Monday it will offer a white-label version of Apriva’s AprivaPay Plus to small and mid-size merchants. Dubbed iPayment MobilePay, the mobile point-of-sale service uses AprivaPay Plus, mPOS software developed by Scottsdale, Ariz.-based Apriva. Merchants can use the service with iOS, Android, or Amazon Fire mobile …
April, 2016
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11 April
Cachet Renews Ingo Money Deal and other Digital Transactions News briefs
• Prepaid card provider Green Dot Corp., under pressure from an activist investor to boost earnings, announced it would buy $50 million of its Class A common shares under an accelerated stock-repurchase plan. • Remote deposit capture and mobile-payments technology provider Cachet Financial Solutions Inc. will continue to provide …
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8 April
For Payments Newbies, Funding Deals Remain Plentiful But Checks Get Smaller
Funding activity for startups in the payments business continued at a hectic pace over the past six months—but the total dollars invested fell through the floor. There were 75 funding deals in the first quarter totaling $396 million, according to the latest data from CB Insights, a New York City-based …
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7 April
Pivotal Payments Licenses Tango Platform and other Digital Transactions News briefs
• U.S. senators from Colorado, Washington, and Oregon, three states where recreational marijuana use is legal, asked the various federal bank and credit-union regulatory agencies to develop joint guidance for how financial institutions could serve legal cannabis businesses; marijuana use remains illegal under federal law, meaning that many marijuana merchants …
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7 April
Will Credit Card Surcharging Become the Norm in 2016, as One Analyst Prophesies?
Though merchants have been permitted since 2013 to add surcharge fees to credit card transactions, it’s only in 2016 and 2017 that the practice will become the norm, ushering in a new phase of a sometimes contentious relationship between merchants, the payment card industry, and consumers. That’s the assertion of …
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6 April
Consumers Seek Online Payments Security Assurances: Survey
As online shopping continues to grow, consumer anxiety about the security of the payment card credentials on e-commerce sites remains a top concern. Some 48% of consumers want more assurances about their online shopping security, finds a survey released Wednesday by Tender Armor. The survey of more than 1,000 consumers, …
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6 April
Square Nuances Customer Engagement Suite and other Digital Transactions News briefs
• Merchant acquirer Global Payments Inc. reported net income of $69.1 million for fiscal 2016’s third quarter ended Feb. 29, up 10.4% from $62.6 million a year earlier. Revenues came in at $679.9 million, up 2.2%. Global Payments expects to complete its acquisition of Heartland Payment Systems Inc. this month. …
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6 April
Eye on EMV: Terminal Hiccups, Petroleum’s Challenge, And a Dual-Interface Future
Of the challenges presented by the U.S. payments systems’ transition to the EMV chip card standard, one of the least reported is confusion among both consumers and merchants caused by the sudden appearance of puzzling terminal messages. Meanwhile, new numbers indicate petroleum marketers face a daunting challenge meeting their October …
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6 April
A Trip To 7-Eleven To Buy Snacks and Gas Can Now Include Paying Taxes—in Cash
With the April 18 tax-filing deadline bearing down, a new cash-payment option from the Internal Revenue Service and payment processors PayNearMe and Official Payments lets consumers pay federal income taxes in cash at 7-Eleven convenience stores—and if there’s any money left, they can ease the pain with a Slurpee. PayNearMe, …
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5 April
Trump Links Money Transfers to His Mexico Wall and other Digital Transactions News briefs
• PayPal Holdings Inc. will not follow through on plans announced two weeks ago to expand in Charlotte, N.C., and add 400 jobs because of North Carolina’s recently enacted House Bill 2, which PayPal says “perpetuates discrimination and it violates the values and principles that are at the core of …