Digital Transactions Authoritative, insightful and timely information for payments professionals
It’s becoming a familiar refrain in the payments industry: Payments made using mobile devices, such as smart phones and tablets, continue to garner more and more traction. The latest Mobile Payments Index from international payments company Adyen finds that such payments accounted for 27.2% of total global online payments made …
April, 2015
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30 April
Visa’s Scharf Stresses ‘Unique’ Benefits of Costco Deal, Decries Industry ‘Gossip’
Visa Inc.’s branding and marketing strengths were what won Costco Wholesale Corp. over from American Express Co. in a set of exclusive acceptance and cobrand agreements announced early in March, according to Visa chief executive Charles W. Scharf, who spoke Thursday afternoon during a conference call to discuss Visa’s results …
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29 April
It’s Mooney in, Davidson out As MCX Picks a New CEO Ahead of Expected Launch
Brian V. Mooney, who on Tuesday took over as interim chief executive of the retailer-controlled Merchant Customer Exchange LLC payments consortium, brings strengths to the organization that could prove valuable when MCX at last launches its long-awaited CurrentC mobile-payments system, sources tell Digital Transactions News. And, by some accounts, he …
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29 April
MasterCard Posts Increases in Transactions and Charge Volume, and Boosts Incentives
Transaction volumes, revenues and profits all headed up smartly for MasterCard Inc. in the first quarter. But MasterCard on Wednesday also reported laying out nearly $900 million in rebates and incentives during the quarter to build future volume in an increasingly competitive global card marketplace. In the United States, total …
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28 April
MasterCard Makes an Analytics Deep Dive With a $600 Million Acquisition
MasterCard Inc. announced Monday it is spending $600 million to buy Applied Predictive Technologies Inc., an Arlington, Va.-based company that provides analytics services to retailers, financial institutions, and other companies. The deal, expected to close in the second quarter, provides MasterCard with yet another service for merchants. “Merchants, like financial …
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27 April
MCX Stalwart Best Buy Gives Apple Pay a Boost As Apple Records Strong Quarter
Apple Inc.’s Apple Pay mobile-payments service will be accepted by electronics giant Best Buy Co. Inc., first for in-app purchases and then, later this year, in all of its 1,050 U.S. stores, Apple chief executive Tim Cook said Monday. Cook also announced that some 50 hospitals have agreed to accept …
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27 April
Better Late Than Never: Discover Cards To Join Apple Pay This Fall
When it comes to Apple Inc.’s popular Apple Pay mobile-payment service, some players might figure it’s better to be late than never to participate at all. Issuer Discover Financial Services says consumers will be able to use Discover credit and debit cards with Apple Pay beginning this fall. Apple Pay …
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27 April
A New Harris Survey Shows That Consumers Feel the Love for Visa and PayPal
By Jim Daly Grizzled veterans of the payments industry may not have warm and fuzzy feelings for card networks, but the view can be different from consumers’ eyes. In its 27th annual study of brands, a newly released Harris Poll EquiTrend report ranked Visa Inc. as the No. 1 payment …
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24 April
Mobile Wallet Relies on ACH for Lower Merchant Fees
A mobile wallet that uses the automated clearing house network to provide merchants with low acceptance costs is in tests with Team One Credit Union in Saginaw, Mich. MShift Inc., of Newark, Calif., is the developer of the mobile wallet it calls AnyWhereMobile. The app is integrated into Team One’s …
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23 April
New Costs Imposed on Banks by Same-Day ACH Could Reshape Pricing Approach
By John Stewart Merchants that use the automated clearing house network to accept transactions may not be happy about a new fee expected to be part of a proposed same-day settlement plan, but the plan will impose significant new costs on financial institutions as well. And those costs could reshape …