News

July, 2014

• 8 July

  It May Be Late to Faster-Funding Game, But PayPal Boasts Size And Experience Edge

  Catching up with rivals, PayPal Inc. on Monday joined a growing list of e-payments providers that are speeding up settlement time for U.S. merchants. But instead of making faster payments generally available, the San Jose, Calif.-based eBay Inc. subsidiary is offering to cut funding time from up to four business …
• 8 July

  First Data Goes All in on U.S. Gambling Growth with the Full-Deck PayLucky Product Suite

  With an eye to capturing a share of the potential $2.6 billion in U.S. online gambling revenue expected by 2017, payment processor First Data Corp. launched PayLucky, a suite of existing products for gambling and gaming providers, the company announced today. The suite, which includes the Clover point-of-sale system, prepaid …
• 8 July

  Deciding to Change the Isis Brand May Be the Easy Part Compared to Doing It

  The decision by JVL Ventures LLC to rename its Isis mobile-payments company may have been the easy part. Actually scrapping the brand and replacing it with a new name and logo will be much more challenging, experts say. “It’s a huge rebranding exercise,” says Nick Holland, who follows mobile payments …
• 7 July

  Cash Will Be the King of Washington State Pot Payments, at Least for a While

  Like their brethren in Colorado, the new marijuana stores in the state of Washington will be operating mostly on a cash basis, but operators hope that the federal government eventually will remove obstacles preventing them from getting payment card merchant accounts and business checking accounts. On Monday, the Washington State …
• 7 July

  Reaching 70% Penetration, Smart Phones Cement Place As Rapidly Adopted Technology

  Virtually non-existent seven years ago, the smart phone is steadily establishing its place as perhaps the most rapidly adopted consumer electronic device in U.S. history. Some 70% of U.S. mobile subscribers—or 169 million people—owned one by the end of May, up from 66% just since February, according to the latest …
• 7 July

  Draper Eyes Emerging Markets With Bitcoin Bounty

  By Kevin Woodward Venture capitalist Timothy Draper wants to use the nearly 30,000 Bitcoins he won last week in an auction held by the U.S. Marshals Service to fund a Bitcoin trading platform targeting emerging markets, he said last week following the auction. He would not disclose the price of …
• 2 July

  Canada’s Optimal Payments Buys Two ISOs To Gain U.S Foothold in E-Commerce Payments

  With an eye on expanding its international payments capabilities, Optimal Payments Plc bought two U.S. independent sales organizations that cater to e-commerce merchants, the Montreal-based company announced Tuesday. n Meritus posted 2013 revenues of $74.4 million, and Global Merchant Advisors $8.3 million. Both company names remain in place, Lewin says. …
• 1 July

  GoDaddy’s Get Paid Integrates Invoicing and Other Business Tools With Payments

    Online domain company GoDaddy’s new Get Paid service combines payment acceptance for small businesses from up to three payment companies with invoicing and expense-management capabilities. That caters to demands from merchants wanting more than payment processing, says one industry analyst. Get Paid draws its payment data from PayPal, Stripe, …
• 1 July

  Bill Would Put a Chokehold on the Justice Department’s Operation Choke Point

  The U.S. Department of Justice’s controversial Operation Choke Point, an effort to cut off high-risk merchants’ access to electronic payments by challenging the banks and processors that serve them, continues to draw fire. The latest missile comes in the form of a bill from U.S. Rep. Blaine Luetkemeyer, R-Mo., who …

June, 2014

• 30 June

  Making a Decent Profit Gets Tougher for Retail ATM Deployers

  Non-bank ATM operators, which run an estimated 52% of the nation’s approximately 412,000 ATMs, are struggling to maintain profitability as revenues come under pressure and costs continue to rise, according to a recent study of U.S. ATM deployers by Tremont Capital Group Inc. and the ATM Industry Association. On the …