Digital Transactions Authoritative, insightful and timely information for payments professionals
Before the emergence of Bitcoin and other such alternative currencies, people collected and traded airline miles. Many still do, which is what United Airlines and OTG Management, an operator of restaurants in 10 North American airports, are counting on. The two companies on Monday announced holders of United frequent-flyer miles …
Read More »Pala Interactive To Use Optimal Payments for Its Online Gaming Service
Pala Interactive LLC, an online gambling operator, will use payment-processing services from Optimal Payments Plc, Optimal announced this week. Online gambling revenue in the United States is forecasted to be $2.6 billion by 2017, according to one estimate. Another estimate, from Odobo and H2 Gambling Capital, forecasts $7.7 billion …
Read More »PayPal Turns to InComm To Boost Digital Gift Card Presence
PayPal Inc. will use electronic gift card services from InComm Holdings Inc., a move that will enable PayPal to expand the number of retailers’ gift cards that it sells on the PayPal Digital Gifts store and in the eBay marketplace. PayPal, a unit of San Jose, Calif.-based eBay Inc., …
Read More »Lightning-Fast Data And Funding Approvals Have Led to Big Growth in the Kabbage Patch
In short order, competition in the business of funding small merchants has ratcheted up to new highs, with new, online and technology-based entrants flooding the market. One of the most recent, and successful, of these new entrants is Atlanta-based Kabbage Inc., which this year will hit the $500 million mark …
Read More »AmEx In NBA Test and Other News for Nov. 12
• American Express Co. is testing a mobile-payment service built on its Serve platform with the NBA's Brooklyn Nets and their home arena, the Barclays Center. The Brooklyn eWallet is part of the Nets' mobile app for iOS and Android smart phones; fans can store up to 10 payment cards in …
Read More »Smart Phone and Tablet Users Use Weak Security Measures: Report
Consumers using smart phones and tablets based on Android, iOS and Windows Mobile operating systems tend to have lax security measures in place, finds a report commissioned by authentication vendor Nok Nok Labs. Google Inc. developed Android. Apple Inc. created iOS for its mobile devices, and Microsoft Corp. owns Windows …
Read More »Revel Systems Lines Up $90 Million To Fuel Growth
Tablet-based point-of-sale company Revel Systems says it has secured $90 million in Series C financing, a windfall it will use to keep up with growth for its iPad-based POS systems, the company announced Tuesday. Private equity firm Welsh, Carson, Anderson & Stowe, which has long invested in payments companies, …
Read More »Launched in May, Square Capital Has Advanced $75 Million to 15,000 Square Sellers
Square Inc.’s 6-month-old cash-advance product, Square Capital, has distributed $75 million to some 15,000 small businesses, the San Francisco-based payments company announced via Twitter this week. Further, merchants that have accepted the advances have processed in excess of $1 billion in sales through Square, the company said. It also pointed …
Read More »Visa Enhanced PCI Compliance Push Slated For Jan. 1 Start
n Card network Visa Inc. plans to eke out even better merchant compliance with the Payment Card Industry Data Security Standard with a new enforcement plan targeting the largest merchants. The program is scheduled for a Jan. 1 start. That’s according to a copy of an Oct. 21 Visa Bulletin …
Read More »Eye on M&A: JetPay Buys ACI Merchant Systems; Heartland Completes Xpient Acquisition
Payment processor JetPay Corp. on Monday reported that it had acquired ACI Merchant Systems LLC, an independent sales organization that works through financial institutions to provide credit and debit card processing to their small and mid-sized business customers. Meanwhile, the big merchant acquirer Heartland Payment Systems Inc. recently bought Xpient …
Read More »