Transaction Processing

USA Technologies Inc. agreed to provide its ePort Connect contactless-payments technology for air-vending machines deployed by CSC ServiceWorks Inc., a supplier of commercial washers and dryers, with 1.4 million laundry machines in service. Upserv, a payments provider specializing in hospitality, adopted the TM-m30 receipt printer and TM-U220 kitchen printer from …

Fiserv Inc. and First Data Corp. argue their proposed $22 billion combination will usher in a processing behemoth that should create substantial operating efficiencies and economies of scale. And so far, investors are buying that story. Shares of both companies are up by double-digit percentages since the Jan. 16 announcement …

Growth on the automated clearing house network continued apace in 2018’s fourth quarter, boosted by same-day transactions, person-to-person payments, and online commerce. The massive network linking nearly all of the nation’s financial institutions tallied 5.97 billion transactions, up 8.7% from 5.49 billion a year earlier. It was the network’s fastest …

Elavon, the Atlanta-based merchant-acquiring subsidiary of U.S. Bancorp, says it plans to hire approximately 500 employees globally over the next three years. Elavon currently employs more than 730 people in Atlanta and more than 4,500 worldwide. BlockChyp Inc., a payment software and gateway provider, said it completed Level 3 certification …

So far, Visa Inc. has dominated the headlines regarding the U.S. conversion to contactless payment cards. Mastercard Inc., however, will soon be getting into the act. “In the U.S., contactless momentum continues to grow on both issuing and acceptance sides,” Mastercard president and chief executive Ajay Banga said Thursday. “We …

Point-of-sale system maker Lightspeed debuted Lightspeed Payments, a service for in-store and e-commerce payments. The service unifies a merchant’s card-present and card-not-present transaction data into one reporting location within the Lightspeed POS software. Regardless of the card type, merchants pay 2.6% plus 10 cents per card-present payment and 2.6% plus …

Visa Inc. saw payment volume growth of nearly 11% in the quarter ended Dec. 31, and sees ever-more contactless cards and volume on its Visa Direct real-time payments service in its future. Visa on Wednesday reported a respectable first quarter of fiscal 2019, according to its chief executive, despite the …

In reporting its performance for the fourth quarter of 2018 as well as the full year, PayPal Holdings Inc. indicated its dependence on former owner eBay Inc. is down, Venmo monetization is up, and active accounts are surging. Meanwhile, the San Jose, Calif.-based company said it is entering a potentially …

Apple Pay processed more than 1.8 billion transactions in fiscal 2019’s first quarter ended Dec. 31, “well over twice the volume” of the year-earlier quarter, Apple Inc. CEO Tim Cook told analysts late Tuesday, according to a SeekingAlpha.com call transcript. Apple Pay is now live in 27 countries, most recently …

Top executives at Total System Services Inc. on Tuesday predicted big results from the Columbus, Ga.-based processor’s new Vital line of point-of-sale payment devices but also warned the onset of a massive federal regulation this spring will crimp prepaid card revenues in 2019. They also assured analysts on a conference …