Transaction Processing

By Jim Daly@DTPaymentNews For more than six years, most of the debate about the Dodd-Frank Act’s Durbin Amendment has been relatively straightforward. Merchants like Durbin because they pay less in debit card acceptance costs under the amendment’s interchange price cap affecting card issuers with more than $10 billion in assets. …

• KeyBank and First Data Corp. announced an agreement under which the bank will offer First Data products and services, including the Clover line of mobile point-of-sale technology, to its merchant clients across the country. • Financial-institution processor Fiserv Inc. said fourth-quarter adjusted revenue in its payments segment grew 9% year …

It’s been the winter of chest-thumping for e-commerce payments providers. Amsterdam-based Adyen, which is targeting the U.S. market from its San Francisco office, on Wednesday announced that its worldwide transaction volume jumped 80% last year to hit $90 billion from 2015’s $50 billion. On Tuesday, the secretive Amazon.com Inc. disclosed …

By John Stewart @DTPaymentNews In an early glimpse of how U.S. businesses are using faster payments, the governing body for the automated clearing house issued survey results Tuesday showing that 90% of respondents at surveyed financial institutions report same-day ACH origination volume at or above what they expected. The same …

By Kevin Woodward@DTPaymentNews Chase Pay, the nascent mobile-payments service from banking giant JPMorgan Chase & Co., has added two more merchants to its roster. HMSHost, a Bethesda, Md.-based dining-services company specializing in transportation locations, and Parkmobile LLC, an Atlanta-based parking company, will begin accepting order-ahead capability based on functionality developed …

• Independent sales organization BluePay Processing LLC announced its purchase of the merchant-services portfolio of VersaPay Corp., a business-to-business payments provider. Terms were not disclosed. • Merchant processor Total Merchant Services introduced Groovv mPOS, a mobile point-of-sale device enabling EMV and NFC contactless payments, as well as online transactions. The device links to smart …

By Jim Daly@DTPaymentNews The new Republican-controlled Congress and Republican President Donald Trump want fewer government regulations, and the politically vulnerable now that Republicans have full control of Washington. Republicans say the CFPB has imposed excessive regulations on the financial-services industry and that its director, currently Richard Cordray, is not accountable …

• Processor Fidelity National Information Services Inc. (FIS) reported its revenue grew 30.4% in the fourth quarter ended Dec. 31, to $2.4 billion, from $1.9 billion in the same quarter a year earlier. Net earnings from continuing operations increased to $207 million from $105 million. For the year, revenue jumped 40.1%, to …

The cofounders of Revel Systems, an early maker of iPad-based point-of-sale systems, have left the company following a fresh investment by private-equity firm Welsh, Carson, Anderson & Stowe, which has long been active in the payments industry. The press release from Welsh does not say why cofounders Lisa Falzone, who …

• Payment gateway USAePay launched a browser-based EMV application the enables merchants to accept credit and debit chip card payments. • Pizza Inn has launched a rewards app offering points to customers who order through the company’s Web site. The app was developed by marketing-services firm Punchh. • Sweden-based e-commerce-payments provider Klarna said it is buying …