Digital Transactions Authoritative, insightful and timely information for payments professionals
Twenty European banks are working on setting up a pan-European payment system to challenge Visa, Mastercard and technology companies such as Google and PayPal, according to press reports. The project is code-named PEPSI, for Pan European Payment System Initiative.In a development that signals an opening in China’s long-protected payments environment, Chinese mobile-payment giants …
November, 2019
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5 November
Grocer Save A Lot Adds In-Store Cash Acceptance for Amazon PayCode Purchases
Consumers that want to pay cash for their Amazon.com Inc. purchases now have another option in the St. Louis area. Save A Lot launched the ability for consumers to use Amazon PayCode, the e-retailer’s cash-payment service, at several Save A Lot locations in the grocer’s hometown. It expects to expand …
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5 November
With A Big Worldpay Integration on Its Plate, FIS Is Likely to Look to ‘Tuck-in’ Deals, CEO Says
Having just swallowed the massive processor Worldpay Inc., Fidelity National Information Services Inc. will stay on the sidelines for a while when it comes to any more major acquisitions, its chief executive said Tuesday. Meanwhile, the combined company’s update indicated it is now on track to deliver more than $1 …
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5 November
Fairness Hearing Coming Up in the Massive Credit Card Interchange Court Case
A federal judge is scheduled to hear arguments Thursday on whether a proposed settlement worth up to $6.24 billion in damages to card-accepting merchants is fair. The hearing in U.S. District Court in Brooklyn, N.Y., is expected to draw a roomful of lawyers for defendants Visa Inc., Mastercard Inc. and …
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5 November
Investor Targets USAT and other Digital Transactions New briefs from 11/5/19
USA Technologies Inc. issued a statement opposing a move by Hudson Executive Capital LP, the vending-machine payments provider’s largest shareholder, to gain control of the company in the wake of long-running accounting problems that were recently resolved. Hudson’s plan includes the nomination of eight director candidates for election at the company’s next annual meeting. …
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4 November
In Its Latest Gambit, Samsung Pay Enlists Curve’s All-in-One Card App
Samsung Electronics Co. Ltd. has been seeking lately to differentiate its 4-year-old Samsung Pay mobile payments service, and on Monday came its latest gambit: an integration with Curve 1 LTD, a London-based startup that allows cardholders to consolidate all of their Mastercard and Visa cards into a single card or …
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1 November
Google To Buy Fitbit and other Digital Transactions News briefs from 11/1/19
Google Inc. agreed to acquire Fitbit Inc., producer of smart watches and the Fitbit Pay contactless-payment service, for approximately $2.1 billion. Fitbit has sold more than 100 million devices in its 12 years in business. Google, whose Google Pay mobile-payment service has been in the market since 2015, is part of Alphabet Inc. The …
October, 2019
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31 October
With TSYS Now Under Its Wing, Global Payments Expands in Canada With Desjardins Acquisition
Total System Services Inc. (TSYS) officially became part of Global Payments Inc. only on Sept. 18, but the massive task of stitching two large payment processors together didn’t stop Global from buying yet another financial institution’s merchant portfolio. Global announced Thursday that it will acquire the entire 40,000-merchant file of …
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30 October
Green Dot Extends Pact With Walmart, And Both Firms Will Collaborate on a Fintech Lab
Walmart Inc. and Green Dot Corp. reported Tuesday they have extended the prepaid program manager’s agreement with the giant retailer for another seven years, assuring that Green Dot will continue to serve as the issuing bank and manager for the Walmart MoneyCard program. Walmart says the new contract begins Jan. …
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30 October
Kroger Lifts Visa Ban and other Digital Transactions News briefs from 10/30/19
The Kroger Co. lifted its acceptance ban on Visa credit cards at its Smith’s Food & Drug and Foods Co subsidiaries, according to news reports. Kroger, citing what it called high acceptance costs, first banned the cards at its small Foods Co chain in August 2018 and extended it to the larger Smith’s …