News

October, 2015

• 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 …
• 23 October

  Tablet-POS Maker Revel Systems Delves into Mobile Commerce with a Consumer App

  Known for its iPad-based point-of-sale system, Revel Systems said Friday it is making a mobile-commerce app available that merchants can use with their own brands. The app—available now for iOS and Android devices—enables merchants to more easily allow consumers to access product information, check loyalty data, place orders, and pay …
• 23 October

  Now That the Big Risk Shift Has Taken Place, Get Set for EMV Non-Compliance Fees

  Now that merchant acquirers, and, by extension, merchants, are liable for certain kinds of fraud losses if the merchants aren’t prepared for EMV chip cards, acquirers are starting to put in place EMV non-compliance fees to cover their new risk exposure. One of the first to move on this is …
• 22 October

  VeriFone Launches New POS Terminals Embodying Modern Design Cues

  VeriFone Systems Inc. on Thursday introduced a new point-of-sale terminal product line that embraces design cues from consumer electronics. With the new terminal line, VeriFone also introduced its first app store. Dubbed Engage, the series of six devices, which includes two countertop terminals, two PIN pads, and two portable devices, …
• 22 October

  As It Prepares to Ship Devices, Startup Poynt Wins Key EMV And PCI Certifications

  For merchants these days, laying hands on a payment terminal with the needed EMV certifications is hard enough. Finding a certified device with built-in intelligence is even harder. Against that backdrop, a Palo Alto, Calif.-based startup called Poynt Co. on Thursday announced its Poynt Smart Terminal is the first such …
• 21 October

  Revenue Per Merchant Varies Greatly for Mid-Tier Merchant Acquirers, Report Shows

  Top performing merchant acquirers make more than 103 basis points per transaction from merchants that process with them. That’s the finding from a survey of 37 independent sales organizations and acquirers conducted by Adil Consulting, an Omaha, Neb.-based payments-advisory firm. The median is 64 basis points. The top 20% of …
• 21 October

  House Panel Hears How EMV Rings Up a Big Tab for Some Small Businesses

  Implementing EMV chip card payments can be anything but a cheap and easy plug-and-play for small businesses, according to testimony several merchants gave before a U.S. House of Representatives committee Wednesday. Art Potash, chief executive of Potash Markets, a 65-year-old family-run Chicago grocery operation with three stores, told the House …