Zippy’s Restaurants said credit and debit card data, including cardholder names and numbers, may have been compromised in a “data-security incident” at its approximately two dozen locations in Hawaii between last Nov. 23 and March 29; the chain learned of the incident March 9. The Western Union Co. has added …
Read More »How Square’s Deal for Weebly Sets the Stage for Expansion to Bigger Merchants
Since its founding nine years ago, Square Inc. has focused on simplified checkout options and software for small brick-and-mortar merchants. With its acquisition of Weebly Inc., announced late Thursday, San Francisco-based Square is not only staging a major expansion into e-commerce, it’s also laying the groundwork for a significant outreach …
Read More »Discover’s Network Volumes Grow; Company Eyes ‘Non-Traditional’ Ways To Keep Growth Up
Dollar volume in Discover Financial Services’s Payment Services unit rose 19% in the first quarter to $56.1 billion, led by a resurgent Pulse debit network where volume jumped 20%. Pulse, one of the nation’s largest electronic funds transfer networks, has been rebounding in recent quarters have a long period of …
Read More »PayNearMe Expands Payless Deal and other Digital Transactions News briefs from 4/27/18
Customers of safeTstep, the business-to-business division of Payless ShoeSource, can now use PayNearMe to pay for online orders with cash at more than 27,000 U.S. locations, Payless said. This follows an earlier announcement that consumers can use PayNearMe for their Payless.com purchases. The Zelle person-to-person payments network moved more than …
Read More »EVO Payments Explores Going Public
EVO Payments International says it plans to go public and has filed an S-1 registration statement with U.S. Securities and Exchange Commission. The Atlanta-based payments company announced the move late Wednesday. Though the registration statement does not reveal how much EVO expects to raise by going public, the company says …
Read More »Visa’s Stock Returns and other Digital Transactions News briefs from 4/26/18
China’s central bank informed American Express Co. that it would “formally accept” its application to clear and settle domestic bank-card transactions, potentially making AmEx the first U.S. card network to get permission to operate in China, The Wall Street Journal reported. Visa Inc.’s stock has produced a total shareholder return …
Read More »A Surging Performance From P2P Services Helps Boost Results for PayPal’s First Quarter
The PayPal Holdings Inc. machine just keeps chugging. The company announced on Wednesday added momentum in the first quarter, driven in part by gains in consumer and merchant accounts, results for Venmo, its popular peer-to-peer payments app, and strong performance for One Touch, its streamlined checkout technology. Without offering details, …
Read More »Cayan Lifts Merchant Revenues for TSYS; Helgeson Gets an ‘Expanded Role’
Boosted by its $1.05 billion acquisition of the big independent sales organization and merchant processor Cayan LLC in January, payment processor Total System Services Inc. (TSYS) saw its merchant revenues rise nearly 22% in the first quarter. TSYS’s Merchant Solutions segment posted net revenues of $317.4 million, a 21.8% increase …
Read More »Shift4 Is Embroiled in an Antitrust Suit Alleging It Shuts out Rival Restaurant Processors
The ongoing consolidation of companies focused on point-of-sale systems for restaurants gave rise on Tuesday to an antitrust suit that seeks to reverse one of the most recent mergers among payment processors. Payment Logistics Ltd., a San Diego-based payments provider, alleges in its complaint that Shift4 Payments LLC is using …
Read More »Upserve Opens Denver Office and other Digital Transactions News briefs from 4/25/18
Prepaid card and payments specialist InComm announced it is adding 150 jobs and investing more than $20 million in the Atlanta and Columbus, Ga., areas. The moves follow its acquisition of the distribution rights to American Express Co.’s reloadable and gift card products, and the purchase of the AmEx Serve platform. …
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