Transaction Processing

Recreational marijuana is now legal in a growing number of states, but cash remains the dominant payment method. Now, however, CanPay, a Littleton, Colo.-based payments provider, has developed a digital payment option that allows legal marijuana retailers to directly debit a consumer’s checking account from the point of sale. Typically, …

• The U.S. Supreme Court gave the green light to class-action lawsuits by ATM operators and consumers accusing Visa Inc., MasterCard Inc. and several U.S. banks of conspiring to inflate the prices of ATM access fees in violation of antitrust law, Reuters reported. The justices dismissed two related cases they earlier had …

• Payments-technology provider linked2pay said it and Push Payments, a payments processor, have made real-time payments available on linked2pay’s Bank Centric Payments platform. • JetPay Corp. reported a 48% year-over-year increase in third-quarter revenues to $15.2 million; the processor also reported a net loss of $2.9 million compared with a $1.7 …

By John Stewart @DTPaymentNews The faster-payments movement in the United States took a key step forward late in September with the automated clearing house network’s adoption of same-day clearing, and now numbers are available for the first full month of faster ACH processing. A total of $4.98 billion on 3.8 …

Consumers who use their Samsung Pay mobile wallets to make a payment will be rewarded for their transactions with the debut this week of Samsung Rewards. Announced Monday, the program enables consumers to earn points for their Samsung Pay transactions, which can be redeemed for retailer gift cards, prepaid Samsung …

• Gift cards were the most sought-after gifts among consumers queried for a survey about the upcoming holiday season and sponsored by the National Retail Federation; 61% of respondents reported wanting a gift card, followed by clothing and accessories, 54%; and books, CDs, DVDs or videos, 40%. • Merchant processor …

Even though payments processors have been working with application developers for years, independent software vendors (ISVs) still represent a major opportunity for acquirers and processors. It remains the case that 49% of ISVs do not integrate payments functionality into their systems, according to new research from First Annapolis Consulting, an …

By Jim Daly@DTPaymentNews In a move that will further consolidate the U.S. acquiring business, payment processor Vantiv Inc. announced late Thursday that it has an agreement to buy Moneris Solutions Corp.’s U.S. merchant-acquiring subsidiary from its Canadian owners for $425 million in cash.  Also known as Moneris USA, Schaumburg, Ill.-based …

By Jim Daly@DTPaymentNews The PCI Security Standards Council is devising recommendations for protecting payment transactions on devices connected to the Internet of Things, a network with endpoints researchers say already number in the billions. The Wakefield, Mass.-based PCI Council, which oversees a number of security standards for the protection of …

By Kevin Woodward@DTPaymentNews The impact of a Donald J. Trump presidency on the payments industry may not be known in concrete terms yet, but speculation suggests a fair number of moves meant to take some of the sting out of regulations. Republican Trump handily won the Electoral College vote Tuesday, …