Digital Transactions Authoritative, insightful and timely information for payments professionals
By Kevin Woodward@DTPaymentNews Early Warning Services LLC announced Tuesday that both Visa Inc. and MasterCard Inc. are now part of its clearXchange peer-to-peer network. The addition of the two largest card brands means customers of participating financial institutions will be able to send money to others using a U.S.-issued debit …
Read More »As Fraudsters Rush Online, Identity Becomes the ‘New Currency’ for Illicit Transactions
By Kevin Woodward@DTPaymentNews Criminals stepped up their attacks on e-commerce sites in the second quarter, producing more than 69 million rejected transactions, a stunning 90% increase from the same quarter a year ago, according to the Q2 2016 Cybercrime report recently released by ThreatMetrix. Of these transactions, 23% were payments, …
Read More »Retention of Small and Mid-Sized Merchants Continues To Vex First Data
By Jim Daly@DTPaymentNews Most of First Data Corp.’s cylinders fired on cue in the second quarter, but its U.S. small and mid-size business customers again proved to be drag on revenue growth. In response, the giant payment processor is holding off on merchant price increases and ramping up service, its top brass …
Read More »Digital Transactions August 2016
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Read More »MoneyGram Money-Transfer Volume Up and other Digital Transactions News briefs
• For its second quarter ended June 30, MoneyGram International Inc. reported transactions on its digital money transfer service grew 9% and accounted for 15% of all money-transfer transactions handled by the company. Revenue for the service increased 17% and accounted for 13% of overall money-transfer revenue. • Because of …
Read More »MasterCard’s Banga Parries Queries About Staged-Wallet Fee in Wake of Visa-PayPal Deal
The shock waves generated by Visa Inc.’s new deal with PayPal Holdings Inc. reached MasterCard Inc. on Thursday, with chief executive Ajay Banga hailing the agreement while parrying questions from analysts about its possible effect on a fee MasterCard imposed in 2013 to deal with PayPal and other digital wallets that rely on …
Read More »Global Payments’ Heartland Merger On Track, Executives Say
The $4.3 billion merger of Global Payments Inc. and Heartland Payment Systems Inc. appears to be paying off. Atlanta-based Global Payments released its fiscal fourth-quarter and year-end results Thursday. For the year, which ended May 31, total revenue of $2.9 billion was up 4.5% from $2.8 billion in the prior year. …
Read More »MasterCard and PayPal Extend Card Agreement and other Digital Transactions News briefs
• Square Inc. introduced Scheduled Deposit, a service aimed at larger merchants, allowing them to set up regular daily deposits with accelerated access to funds. The service differs from Instant Deposit, a service Square introduced a year ago, in that deposits are automated and so don’t require manual entry by …
Read More »New Federal Trade-Secret Law Could Prove To Be a Double-Edged Sword for ISOs
Every business, including merchant processors and independent sales organizations, wants to protect its trade secrets, and a new federal law gives them stronger tools to do that than available before. But the law also could expose ISOs to damages should they unwittingly hire sales representatives who use somebody else’s stolen …
Read More »Eye on Earnings: Ingenico North America up 11%; Sales Up, Profits Down at TSYS
The U.S. migration to the EMV chip card standard continues to pay off for point-of-sale terminal maker Ingenico Group as the company reported a 14% increase in its North America revenue for the first six months of 2016. France-based Ingenico, in its earnings results released Tuesday, said it recorded 148 …
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