Point-of-sale

September, 2019

• 19 September

  The PCI Council Plans More Rule Flexibility As It Eyes a Major Revision of Its Flagship Standard

  

  Recognizing there is no one-one-size-fits-all approach to data security, the PCI Security Standards Council continues to evolve its requirements toward a goal of greater flexibility for payments providers. The new approach comes as the Council contemplates a new version of its core security standard. Gathering in Vancouver, B.C., this week …
• 18 September

  Global Payments Completes TSYS Merger and other Digital Transactions News briefs from 9/18/19

  

  Global Payments Inc. completed its $21.5 billion all-stock merger with payment processor Total System Services Inc. (TSYS). The deal cleared its last major hurdle when European Union antitrust regulators said they had no competition concerns, Reuters reported Tuesday. The merged company serves 3.5 million merchant locations and 1,300 financial institutions in more than 100 …
• 17 September

  Without a Digital Business Model, Banks May Lose $280 Billion in Payments Revenue

  

  Digital payments, combined with competition from nonbanks in payments, may cost banks as much as 15% of their global payments revenue, or $280 billion, says Accenture in its “2019 Global Payments Survey.” Released Monday, the survey of 240 retail and corporate payments executives across multiple countries suggests that global-payments revenue …
• 16 September

  POS Providers Invite Developers To Attract More Merchants

  

  As integrated payments continue to garner more interest from payments companies amid increasing merchant demand, two point-of-sale system providers are making it easier for developers to create software programs for merchants.  Revel Systems Inc. last week launched Revel Integrated, a program that offers developer tools and infrastructure to integrate their …
• 16 September

  Fintech Plaid Notes Investments and other Digital Transactions News briefs from 9/16/19

  

  Financial-technology provider Plaid Inc. disclosed that it has received “strategic investments” from both Mastercard Inc. and Visa Inc.Digital payments and competition from nonbanks in payments may cost banks as much as 15% of their global payments revenue, or $280 billion, says Accenture in its “2019 Global Payments Survey.”Visa said it is working with insurance …
• 13 September

  Adyen Lands Another Retailer and other Digital Transactions News briefs from 9/13/19

  

  Payments provider Adyen N.V. said fashion retailer BrandBank will use its payments network throughout markets in Australia, Singapore, and Hong Kong. BrandBank operates more than 500 stores.Digital River agreed to provide payments and tax and compliance services on the Salesforce AppExchange.PepsiCo has launched a cash-back rewards program called PepCoin, which lets consumers deposit cash rewards directly …
• 12 September

  Mastercard Still Sees Growth Opportunities in the U.S. Payment Market

  

  Many payment executives regard the United States as a mature market compared with high-growth countries in Asia and Latin America, but it still has plenty of untapped opportunities, according to Mastercard Inc. executives. Its home country remains Mastercard’s largest market. As of 2018, the U.S. accounted for 33% of Mastercard’s …
• 12 September

  With Momentum From Transit, Contactless Accounts for a Rising Share of Card Payments

  

  With card-based transit payments picking up steam in the United States, a key Mastercard Inc. executive said Thursday that 22% of the network’s physical-world transactions globally were contactless as of the end of 2018. The time to complete a contactless transaction is down to 0.4 seconds, added Ajay Bhalla, president …
• 12 September

  An ISO’s Dry Cleaning Stake and other Digital Transactions News briefs from 9/12/19

  

  United Merchant Services Inc. said it acquired the rights to Royal Western Computer’s assets, including its point-of-sale software for dry cleaning merchants, branding, trademarks, licensee database, and sales channels. Royal Western Computer holds more than 25% of the dry cleaning POS market, UMS said. The company intends to expand by combining …
• 11 September

  Mastercard’s Cross-Border Clearing Role and other Digital Transactions News briefs from 9/11/19

  

  Mastercard Inc. said it will act as the clearing and settlement network for a cross-border payments service the company has agreed to develop with R3, a blockchain-software vendor.Some 74% of online transactions globally are for digital goods and services, with ride-share service and restaurant delivery ranking as the first and second most used …