Digital Transactions Authoritative, insightful and timely information for payments professionals
• Processor Total System Services Inc. (TSYS) reported that John Shlonsky, senior executive vice president of TSYS, and president of TSYS’s Merchant Services segment, has resigned effective Oct 7. Shlonsky joined TSYS in April with the company’s acquisition of merchant processor TransFirst Holdings Inc., where he was president and CEO. No reason was given for the resignation. A search has begun for Shlonsky’s replacement. In the interim, Pamela Joseph, TSYS’s president and chief operating officer, will head the merchant segment.
• Remitly, a U.S. mobile funds-transfer system, received $38 million in debt and equity financing from IFC, a member of the World Bank Group, and Silicon Valley Bank. The company plans to use the funds to underwrite an expansion into Latin America.
• Payzer, whose mobile app allows contractors to accept payments and extend financing offers in the field, closed a $4.25 million Series B funding round. The chief executive and cofounder of Payzer is Joe Giordano, who while at ExxonMobil in the early 2000s was instrumental in designing the petroleum marketer’s Speedpass contactless-payment product.
• Spanish banking giant Santander is working on a project to digitize customers’ cash on a public blockchain affiliated with the Ethereum digital-currency network, Coindesk reported; possible uses include online purchases.
• The PCI Security Standards Council is working with EMVCo to support the latest version of 3-D Secure, a protocol designed to protect online transactions from fraud. For the new specification, which EMVCo says it will release later this year, the Council is working on security requirements, testing procedures, and assessor training and reporting templates. It expects to release documentation in the first half of next year.
• Testing lab UL said its Payment Functional Test Suite now can test Discover cloud payments.
