News

August, 2015

• 5 August

  Judge Tosses AmEx’s Settlement With Merchants; Is the Visa-MasterCard Settlement Next?

  A federal judge on Tuesday nullified a pending settlement between American Express Co. and merchants in a class-action lawsuit over AmEx’s anti-steering rules because of improper conduct by a co-lead attorney for the merchants. The decision immediately cast a shadow over the $5.7 billion settlement Visa Inc. and MasterCard Inc. …
• 5 August

  EMV Becomes All-Consuming Topic at a Trade Show for the Broader POS Industry

  The broader business of point-of-sale technology has many concerns that include payments but aren’t limited to that function. These days, though, it may seem that payments—and especially EMV—is all this business talks about. This was certainly the case this week at RetailNOW, a four-day conference in Orlando, Fla., produced by …
• 5 August

  It May Be POS Alphabet Soup, But It’s Getting Easier for ISVs To Assume ISO Functions

  By John Stewart With the business of selling merchant accounts growing more technology-based every day, how are processors going to recruit new independent sales organizations that have the necessary expertise? For at least some processors, the answer lies in inducing independent software vendors, known as ISVs, to become ISOs as …
• 4 August

  POS Systems Developers Face Unique EMV Certification Challenges

    As the U.S. payment card industry hurtles toward its EMV destiny approaching on Oct. 1, the process for certifying EMV-compliant point-of-sale terminals is moving along well, albeit with one exception. Point-of-sale systems, which are available in a myriad of configurations with software from one company, hardware from another and …
• 4 August

  Appellate Court Reinstates ATM Fee Lawsuit Against Visa and MasterCard

  A federal appellate court on Tuesday reinstated a proposed class-action lawsuit over ATM pricing rules that independent ATM operators and consumers filed against Visa Inc. and MasterCard Inc. in 2011 but a district court dismissed in 2013. The ruling originated with three lawsuits filed by the National ATM Council Inc., …
• 3 August

  The Payments Unicorn List Drops by One—But Investor Cash Is Far From Drying up

  By John Stewart It is a commonplace notion that unicorns are to be encountered only in myth. But in the world of venture capital, they are becoming increasingly numerous. While it was once considered extremely rare for a privately held startup to achieve a $1 billion-plus valuation, there are now …
• 3 August

  Eye on EMV: Unprepared Merchants in for a ‘Big Surprise;’ U.S. Conversion Lifts Ingenico

  By Jim Daly Some merchant categories such as restaurants are moving slowly into EMV chip card acceptance ahead of the looming Oct. 1 liability shift because they experience little of the fraud EMV cards are intended to prevent, while others are going to find losses “winging back at them,” executives …

July, 2015

• 31 July

  U.S. Mobile POS Installations Forecasted To Reach 17.4 Million by 2019

  Installations of mobile point-of-sale devices in the United States and Canada will hit 17.4 million in four years, forecasts 451 Research in its “Mobile Point of Sale: Smart Devices Earn a Growing Share of Global Payment Acceptance” report released Thursday. If it proves accurate, that forecast will yield a 155.9% …
• 31 July

  As MCX Plans Pilot for Late August, Observers Ponder Fate of Its CurrentC Wallet

  By John Stewart After a three-year gestation period, the Merchant Customer Exchange’s CurrentC mobile-payment service is planning to launch a pilot in Columbus, Ohio, during the last week of August, a source with knowledge of the matter tells Digital Transactions News. The pilot will involve locations belonging to a handful …
• 31 July

  Cardtronics Preps for a Big Gulp of Recovery Work Ahead of 7-Eleven’s Exit

  Retail ATM network operator Cardtronics Inc. says it has been preparing for the possible loss of its biggest merchant, convenience-store giant 7-Eleven Inc., for three years and will stick to its established growth plan to fill the impending hole now that that possibility has become a reality. Houston-based Cardtronics has …