Online and mobile bill-payment provider Allied Payment Network announced what it says is a “first of its kind” real-time digital bill-payment technology. The company developed the product in collaboration with Finastra, a software provider to financial institutions. Payments provider International Bancard said it was named the official credit card processor …
Read More »EMV chip card payments made substantial gains in the U.S. last year, but the nation still lags most other regions in EMV penetration, according to new figures from payment card standards body EMVCo. Some 53.5% of general-purpose U.S. card-present transactions in 2018 were so-called chip-on-chip, meaning both the point-of-sale terminal …
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Commercial Bank of California’s announcement Tuesday that Group ISO Inc. joined its wholesale independent sales organization program signals greater ambitions for the Irvine, Calif.-based bank. Group ISO will use CBC’s BIN sponsorship, a term for bank identification numbers, which is required for acquirers to send and receive transactions from card …
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The Facebook-led announcement of the Libra cryptocurrency is evoking blowback both in the United States and overseas. House Financial Services Committee chairwoman Maxine Waters (D-Calif.) called for Facebook to halt the planned launch of Libra until Congress has had a chance to hold hearings on the cryptocurrency. Elsewhere, the governor …
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Its long-term prospects for success are unclear, but the investment and cross-border payments partnership struggling wire-transfer provider MoneyGram International Inc. announced late Monday with blockchain-services developer Ripple Labs Inc. certainly produced a short-term bang by doubling the value of MoneyGram’s beaten-down stock. As part of the deal, Ripple invested $30 …
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Celero Commerce announced two acquisitions, those of Elmhurst Financial Services and Tandem Innovative Payment Solutions. Following the deals—financial terms were not disclosed for either—Celero will have approximately 25,000 merchants and process approximately $10 billion in annual payment volume. Payment Alliance International said it acquired ISA-ECash, an ATM operator and developer …
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Facebook Inc. is expected to release details this week, perhaps as early as Tuesday, on its Libra cryptocurrency initiative, but for now what’s known about the project has at least some experts shaking their heads. “Why a cryptocurrency, and why Facebook?” asks Tim Sloane, who follows digital currencies as vice …
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Target Corp. was hit by two point-of-sale glitches this past weekend. On Sunday afternoon the retailer was unable to process certain card transactions at some of its 1,800 stores for about 90 minutes due to an issue at a data center of its payment-services vendor, NCR Corp., Reuters reported. Sunday’s …
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Circle Internet Financial Ltd. will cease supporting its 5-year-old Circle Pay mobile app beginning next month in order to concentrate on its blockchain and cryptocurrency ventures. Circle Pay is a no-fee peer-to-peer payments app that enables users to send money using the recipient’s phone number or email address. The service …
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The debut of cashless stores has led to pushback by several cities, the state of New Jersey, and a member of Congress concerned that card or mobile-payments-only options will leave cash-dependent consumers unable to shop in such stores. Now, new research from the Federal Reserve Bank of Atlanta concludes that …
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