Point-of-sale

November, 2019

• 14 November

  Integrated Payments Help Priority Technologies Move Beyond Subscription Billers

  

  Merchant processor Priority Technology Holdings Inc. posted an 11% increase in payment volume in the third quarter despite the wind-down of its once-sizable processing business for online subscription billers. Alpharetta, Ga.-based Priority said it processed $10.8 billion in merchant bank card volume versus $9.71 billion in 2018’s third quarter, on …
• 14 November

  FTC Probes Debit Routing and other Digital Transactions News briefs from 11/14/19

  

  The Federal Trade Commission has started a preliminary inquiry into whether Visa Inc., Mastercard Inc., and large debit card issuers are blocking merchants from routing transactions over PIN-debit networks, the Bloomberg Law news service reported, citing anonymous sources. FTC investigators reportedly have contacted merchants and their trade groups, Bloomberg Law said. Spokespersons for …
• 13 November

  PCI Compliance Drops for the Second Year in a Row, Verizon Reports

  

  Compliance with the Payment Card Industry data-security standard remains an elusive goal for many merchants and other organizations that handle general-purpose payment card data. In fact, compliance fell in 2018 for the second year in a row, according to Verizon Communications Inc. Verizon’s newly released Payment Security Report says only …
• 12 November

  USAT Boasts 25% Revenue Increase and other Digital Transactions News briefs from 11/12/19

  

  Unattended-payments specialist USA Technologies Inc. held its first quarterly earnings call in more than a year following the resolution of accounting issues. In it, USAT reported first quarter fiscal 2020 revenue of $42.1 million, a 25.7% increase from $33.5 million a year ago. Its net loss for the quarter was $12.8 million, …
• 8 November

  Final Arguments Heard in MDL 1720 Interchange Suit and other Digital Transactions News briefs from 11/8/19

  

  U.S. District Judge Margo K. Brodie heard final arguments from lawyers Thursday on the fairness of a proposed settlement in the 14-year-old MDL 1720 credit card interchange case but, as attorneys involved in the case said was probable, did not make an immediate determination from the bench. Brodie in January gave preliminary …
• 6 November

  A Fast-Growing Cash App Highlights How Square Leverages Its Consumer And Merchant Sides

  

  If Square Inc. has made one thing clear in recent months, it’s that the company is determined to tie together two worlds most payments companies see as distinct: consumers on the one hand, and merchants on the other. That strategy took another step forward last month with Square’s announcement that …
• 6 November

  20 European Banks Challenging Card Networks and other Digital Transactions News briefs from 11/6/19

  

  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 …
• 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 …
• 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 …
• 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 …