Transaction Processing

The debit interchange controls of the Durbin Amendment went into effect seven years ago Monday, and to mark the occasion the Electronic Payments Coalition issued its latest salvo in what appears to be a never-ending feud over that law. According to survey results released by the EPC, 52% of registered …

In what may be a boon for ATMs, Visa Inc. will allow dynamic currency conversion for consumers using international ATMs beginning April 13, 2019, says Euronet Worldwide Inc. The Leawood, Kan.-based processor, which operates more than 41,000 ATMs globally, says the rule change enables acquirers and ATM operators to offer …

Unattended payments provider USA Technologies Inc. reported that it was unable to file its overdue annual report for fiscal 2018 to the Securities and Exchange Commission within the 15-day extension it asked for in September. The company said it is still investigating certain contractual arrangements that prompted it to ask …

The word “regulation” generates little enthusiasm in the merchant-acquiring industry, but it’s more palatable when “self” is the operative adjective rather than “government.” Thus, the Electronic Transactions Association is pushing its new Self-Regulation Program for acquirers, independent sales organizations, and payment facilitators. Launched early this month, the voluntary program requires …

Biometric authentication may be coming into its own as a tool to aid financial institutions and payments companies in serving their customers. At financial institutions, as much as $20.75 million is saved annually using biometric authentication instead of SMS one-time password services, says Reston, Va.-based Daon Inc., a biometric-services company, …

Few businesses have been more targeted by the trend toward integrated payments than restaurants, and late on Thursday that trend unfolded further with Global Payments Inc.’s agreement to lay out $490 million in cash for Sicom Systems Inc., a Lansdale, Pa.-based developer of both front- and back-of-the-store management systems for …

A new micropayment platform called Qoins has just closed a first round of funding for $1 million. The app allows users to pay off debt by rounding up purchases to the nearest dollar and sending the excess to the creditor, with a focus on credit card and student debt. Qoins …

For nine years, PayNearMe has focused on enabling consumers without access to payment cards to make cash payments for online goods at point-of-sale terminals in what has grown to a network of some 27,000 merchant locations. On Thursday, the Sunnyvale, Calif.-based company said it now can process credit, debit, and …

BNY Mellon has become the first bank client to sign a reseller agreement with Early Warning Services’ Zelle person-to-person payment network for tokenized disbursements to consumers. Zelle indicated earlier this year it would expand into disbursements as a potential field for fee-based payment services. Zelle also announced Dollar Bank now offers Zelle …

The world currently has 40 real-time payments systems versus only 25 just a year ago, payment processor Fidelity National Information Services Inc. (FIS) reported Wednesday. What’s more, five such programs are under development, and another 16 should be live in 12 months to 18 months, Jacksonville, Fla.-based FIS says in …