Point-of-sale

August, 2023

• 15 August

  Hochschild Exits Discover As the Card Network Confronts Fallout From an Overcharge Issue

  

  John Owen, a retired banker and member of Discover Financial Services Inc.’s board of directors, has been appointed interim chief executive and president, replacing Roger Hochschild, who resigned Monday after five years running the company. Riverwoods, Ill.-based Discover announced Hochschild’s departure following the card network’s disclosure in an earnings call …
• 15 August

  Clarifying CNP Debit Routing And Other Digital Transactions News briefs from 8/15/23

  

  The U.S. Payments Forum has published a free white paper, “Regulation II Clarification for Debit Routing,” on the Federal Reserve’s announcement earlier this year that effective July 1 issuers must support network choice on card-not-present transactions, in addition to card-present, in accordance with the 2010 Durbin Amendment. Payment-card manufacturer CPI Card Group Inc. has …
• 14 August

  Interac Enables Toronto Residents to Make Contactless Transit Fare Payments

  

  Interac, Canada’s national debit network, has partnered with the Toronto Transit Commission, Canada’s largest transit agency, to make contactless payments available across the transit system. Beginning Aug. 15, riders will be able to pay for fares at TTC  turnstiles, on buses and street cars, and at Wheel-Trans, Toronto’s transit service …
• 14 August

  PayPal’s Board Taps Intuit’s Alex Chriss to Replace Retiring CEO Dan Schulman

  

  PayPal Holdings Inc. announced early Monday that Alex Chriss, a long-time executive at Intuit Inc., will take over in September as chief executive, replacing Dan Schulman, who in February triggered the hunt for his successor when he announced he would retire later this year. Chriss, a 19-year veteran at Mountain …
• 14 August

  Waffle House Goes Contactless And Other Digital Transactions News briefs from 8/14/23

  

  The Waffle House restaurant system has adopted chainwide contactless payment capability, including mobile-wallet acceptance, through the Oracle Payment Cloud service. A startup called iWallet said it will adopt FedNow for mobile check deposits. The Federal Reserve launched the FedNow real-time payments service last month. MarginEdge, a bill-payments provider, launched a mobile bill-payment app for restaurant operators …
• 11 August

  Commentary: How Emerging Technologies Can Help Solve EBT Fraud

  

  Instances of electronic benefits transfer (EBT) fraud have become more prevalent in the United States as criminals become more brazen and increasingly prey on society’s most vulnerable. Supplemental Nutrition Assistance Program (SNAP) beneficiaries are one of the largest targets for EBT fraud. Last year, SNAP distributed over $113.9 billion to …
• 11 August

  PayJunction Debuts No-Code Integration And Other Digital Transactions News briefs from 8/11/23

  

  PayJunction announced its No-code Payments Integration Platform, a free browser extension that enables quick integration of payment features in any cloud software platform. The online grocery delivery service Instacart said it has initiated service in Alaska, making the company the first to enable in all 50 states grocery payments using Supplemental Nutrition Assistance …
• 10 August

  Payment Processors Repay, Priority Technology, And Par Technology Post Q2 Results

  

  Payments-technology provider Repay Holdings Inc. reported its consumer-payments business grew its organic gross profits 16% in the quarter ended June 30, compared to the same period a year ago. Overall, the company posted organic profit growth of 12% for the quarter, compared to a year earlier. Absolute figures were not …
• 10 August

  Debit Networks Prepare As a Fed Clarification on Network Choice Sinks in

  

  Debit card networks are gearing up for an expected flood of new online transactions in the wake of a Federal Reserve rule clarification that took effect more than a month ago to require that issuers enable network choice for online as well as in-person transactions. The latest example emerged late …
• 10 August

  Visa Commercial Pay Deal Extended And Other Digital Transactions News briefs from 8/10/23

  

  Visa Inc. said it has extended for four years an agreement with U.K.-based Conferma Pay to support Visa Commercial Pay, a set of business-to-business payments technologies. Payments provider Vanco Payments said its Web-based RevTrak technology will support donations through Livingtree Give, fundraising software from the Livingtree fundraising platform. India-based Tata Group’s Tata AIA Life …