News

March, 2015

• 17 March

  The clearXcxhange P2P Payment Service Adds U.S. Bank As An Owner And User

  Person-to-person payment company clearXchange has a fifth owner. U.S. Bank, a unit of U.S. Bancorp, said on Tuesday it had invested in the network and plans to offer clearXchange services. Terms were not disclosed. ClearXchange was founded by Wells Fargo & Co., Bank of America Corp., and JPMorgan Chase & …
• 17 March

  Pot Payments Piteously Poor in an Otherwise Smokin’ Industry

  By Jim Daly Legal U.S. marijuana sales grew 74% to $2.7 billion in 2014 from $1.5 billion the year before, but you wouldn’t know it by the payment card and other electronic payments generated by the budding industry, according to a new research report. Even though about 20 states have …
• 17 March

  As P2P’s Popularity Shoots Upward, Facebook Enters the Game With Messenger

  The viral popularity of peer-to-peer payments among younger consumers hasn’t gone unnoticed at the massive social networks that serve their needs for instant communication. Facebook Inc. on Tuesday said it has introduced a P2P payments service on its Messenger platform and will be rolling it out across the country “over …
• 16 March

  After Just 10 Months, Square Shuts Down Order, the Successor to Square Wallet

  Payments observers have known for some time that not all companies introducing mobile wallets have met with success, but now Square Inc. has had to shutter a product that succeeded a failed wallet. The San Francisco-based company on Friday began notifying users of its Square Order app that the product …
• 16 March

  With Small Merchants Lagging, Visa Embarks on EMV Education Tour to Hit Basics

  As the U.S. payment card industry migrates to EMV chip cards, there’s one group to which the payments industry needs to pay special attention. Smaller merchants have little awareness of what EMV is and how their businesses will be affected by it. That’s why Visa Inc. set out Friday on …
• 16 March

  Eye on ATMs: BMO Harris Bank’s New Cardless App; Diebold Buys Software Maker

  Chicago-based BMO Harris Bank on Monday unveiled a mobile app for cardless ATM cash withdrawals and claimed it has the nation’s largest network of ATMs configured for smart-phone-based withdrawals. Meanwhile, ATM manufacturer Diebold Inc. said it bought a Canadian software company as part of a strategy to offer more software-based …
• 13 March

  Intuit Extends POS, E-Commerce Reach for QBO With Shopify, Bigcommerce Deals

  Intuit Inc., which markets the highly popular QuickBooks accounting product for small businesses, continues to reinforce the online version of the software with point-of-sale and e-commerce capabilities. The Mountain View, Calif.-based company on Thursday announced an integration for QuickBooks Online (QBO) with Shopify Inc., an Ottawa-based platform for e-commerce and …
• 13 March

  75% of Apple Pay Users Make Repeat Apple Pay Purchases At Same Locations

  Retailers like nothing more than for a new customer to become a familiar customer, and that seems to be happening with a portion of Apple Pay users, finds a report from Auriemma Consulting Group. New York-based Auriemma says data from its Apple Pay tracker survey, which canvasses Apple Pay use …
• 12 March

  Shoppers Favor Retailers That Accept Mobile Wallets—And Punish Those That Don’t

  By John Stewart While big-time companies like Apple Inc., Google Inc., and Samsung Electronics Co. prepare to battle it out for control of mobile payments, evidence is emerging that consumers may be strongly inclined to reward merchants that accept mobile wallets and punish those that don’t. Some 30% of consumers …
• 12 March

  Nearly Two-Thirds of Organizations Fall Out of PCI Compliance a Year Later: Report

    It’s a sobering statistic. Only 28.6% of the companies surveyed in the Verizon 2015 PCI Compliance Report were still in compliance with the Payment Card Industry data-security standard a year after a successful validation. Released Thursday, the annual report catalogs the state of PCI compliance gleaned from more than …