News

October, 2015

• 30 October

  How MCX’s Deals with Chase Pay And BIM Networks Help Fill a Tender Gap in CurrentC

  With two strokes of the pen, Merchant Customer Exchange LLC has addressed one glaring weakness in its mobile wallet. By announcing a deal this week with JPMorgan Chase & Co.’s brand-new Chase Pay mobile-payments service and two weeks ago with a little-known New York City-based app provider called BIM Networks …
• 30 October

  Pennsylvania Money-Transmitter Advisory for ISOs, Processors and Banks Sparks Concerns

    A recent Pennsylvania Department of Banking and Securities’ advisory about potentially requiring independent sales organizations and processors to obtain money-transmitter licenses could pose problems for the payments industry. “It’s the wrong execution of the right idea,” Scott Talbott, senior vice president for government affairs at the Electronic Transactions Association, …
• 29 October

  Why PayPal Plans to Extend Its Fast-Growing Venmo Service Into Merchant Payments

  Up to now, PayPal Holdings Inc.’s Venmo payments service has been strictly a mobile person-to-person product appealing largely to twenty-somethings, but within a year users will be able to pay with Venmo at PayPal merchants if the parent company’s plan works out as expected. PayPal disclosed Wednesday in its quarterly …
• 28 October

  Samsung Pay Adds Card Issuers and Brings Verizon on Board

  Samsung Pay, the mobile-payments service from Samsung Electronics Co. Inc., has added 14 Visa-MasterCard payment card issuers. In addition, Verizon Wireless, the holdout mobile carrier that was absent from Samsung Pay’s launch a month ago, is now supporting the service, a Samsung executive said Wednesday. “We’re expanding our ecosystems,” Thomas …
• 27 October

  Eye on Money 20/20: OmnyPay Launches and TMS Adds a POS Terminal

    A new mobile-payments service that includes loyalty and rewards has launched with the goal of providing retailers with a single source of mobile engagement with their consumers. Dubbed OmnyPay, the service is just one of the many announcements made this week at the annual Money 20/20 conference in Las …
• 27 October

  With Technology from VocaLink And FIS, TCH Sees a Faster Way to Real-Time Payments

  With two key announcements this week, The Clearing House Payments Co. LLC has brought the finish line much closer in its run to build a U.S. real-time payments system. While the New York City-based company has not set a date for completion, senior executives told Digital Transactions News Tuesday TCH …
• 26 October

  ClearXchange Gaining Security Elements Following Purchase by Early Warning

    ClearXchange, a bank-owned person-to-person payments company that launched a real-time payments service in June, says its merger with Early Warning Services LLC will assuage concerns about security as more consumers and financial institutions use the service. Scottsdale, Ariz.-based Early Warning announced Monday it will buy San Francisco-based clearXchange for …
• 26 October

  Chase Unveils Chase Pay, a Mobile Wallet That Will Work at Merchants Accepting CurrentC

  JPMorgan Chase & Co. on Monday unveiled its Chase Pay mobile wallet and said the product will begin rolling out in the middle of next year. Chase also said its new wallet will be accepted at merchants belonging to the Merchant Customer Exchange LLC, a retailer-controlled consortium that has been …
• 26 October

  Mobile Payments Poised for Big Growth, but Apple Pay Not Busting the Charts Yet

  The latest forecast for mobile payments at the point of sale echoes what many other studies have said, which is that current volume is minuscule. But a convergence of forces, including mobile wallets coming preloaded with more and more smart phones and more point-of-sale terminals being able to accept new …
• 25 October

  Panelists Fret About the Effects of Dodd-Frank on Financial Innovation

  The controversial Dodd-Frank Act scored just 20% in an impromptu popularity poll Sunday afternoon, with its only support coming from someone in the federal government. The quick straw poll was hardly representative as the mere five respondents were panelists at a conference for payments executives, but the results do reflect …