Digital Transactions Authoritative, insightful and timely information for payments professionals
Ingo Money Inc. this week introduced a feature on its 3-year-old mobile app that allows users to split check deposits across multiple accounts, including bank accounts, prepaid cards, bill payments, and PayPal. Using Ingo’s decision engine and bank integrations, the feature also offers immediate, guaranteed funds availability. The feature works …
February, 2016
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24 February
Pin4 Extends Cardless ATM Withdrawals to Non-Bank ATM Operators
HalCash North America is making its cardless-cash ATM service available in four U.S. cities prior to eventual national expansion later this year. Under the Pin4 moniker, the HalCash North America service enables consumers to securely send cash that recipients can retrieve at participating ATMs without having to insert a card …
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24 February
Green Dot Launches New Products, Aims To Be a ‘Fin-Tech Powered Branchless Bank’
Green Dot Corp. announced a number of a new products Wednesday and said it was getting into lending in order to generate new revenues and expand beyond its prepaid card base. Under pressure from a large investor to boost its bottom line and flagging stock price, Pasadena, Calif.-based Green Dot reported …
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23 February
Chase Pay Takes First Important Stride Forward With a Deal for Acceptance at 7,500 Starbucks Stores
When JPMorgan Chase & Co. announced its own mobile wallet, Chase Pay, in October, it said the new payments service would begin rolling out by the middle of this year, and on Tuesday the money-center bank announced an important step in that direction. The fledgling service, which is up against …
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23 February
For the First Time, MasterCard Opens up MDES to a Third Party With G&D Deal
Ever since MasterCard Inc. introduced its tokenization platform nearly 18 months ago, no third party has been allowed to offer the product, called the MasterCard Digital Enablement Service. That changed Tuesday with the company’s announcement that Giesecke & Devrient is connecting its Convego CloudPay platform to MDES and will be …
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22 February
MasterCard And Visa Jockey To Cash in on Expected Jump in Payments on Wearables
Payments made via so-called wearables are forecast to soar in the years to come, so Visa Inc. and MasterCard Inc. are positioning themselves to cash in with announcements made Monday at the huge Mobile World Congress in Barcelona, Spain. MasterCard unveiled a partnership with WiseKey, a Swiss company whose security …
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22 February
Tennessee Fee-Disclosure Law Forces Non-Bank Processors To Pull Out the Calculators
A new Tennessee law governing merchants’ payment card contracts could create headaches for non-bank entities such as independent sales organizations and payment facilitators, merchant-acquiring industry sources say. The law will require processors on a monthly basis to list all fees assessed since the last statement. That’s certainly not unusual in …
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22 February
Thompson Investments Steps in to Acquire Troubled Powa Technologies
Powa Technologies Ltd., the troubled startup behind PowaTag and the PowaPOS line of mobile point-of-sale gear, is being acquired by Thompson Investments, according to a terse announcement released late Friday. No terms were released. Before Thompson stepped in, London-based Powa Technologies had been reported to be close to appointing management consultancy …
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19 February
MasterCard Adding Location Tech As Part of Trend Toward User-Based Card Controls
With an eye to giving credit and debit card holders a measure of greater control, MasterCard Inc. unveiled a new alert feature that provides issuers with verifiable data about a cardholder’s location. That can help prevent authorization refusals, for example, when the cardholder travels. Available now in the United Kingdom, and …
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19 February
Competition And Pricing Could Have Been Culprits in Flint Mobile’s Apparent Demise
Flint Mobile Inc., a startup whose app allowed merchants to process transactions by using their smart-phone camera to scan customers’ card numbers, abruptly ceased operations earlier this month and has arranged for merchants to switch over to Stripe for processing. That’s according to MerchantMaverick.com, a merchant-processing review site Flint, which …