Digital Transactions Authoritative, insightful and timely information for payments professionals
• Prepaid card program manager Green Dot Corp. has expanded its Instant Pay disbursement program with on-demand car-hailing service Uber to enable real-time payment of driver pay to almost any Discover, MasterCard, or Visa debit card, using MasterCard Inc.’s MasterCard Send service. Up to now, Instant Pay driver disbursements were limited to the Uber Debit by GoBank product from Green Dot, which has attracted more than 80,000 Uber drivers.
• Merchant processor JetPay Corp. said second-quarter revenues increased 15.6% year over year to $12.2 million, but the company posted a $7 million net loss due in part to spending for sales and technology personnel, a change in its payment-processing revenue mix, and a $6.1 million loss related to the settlement of a lawsuit against its sponsor bank, Merrick Bank Corp., over a bankrupt charter-travel merchant.
• Point-of-sale terminal maker Equinox Payments said its L5000 series of payment devices are now certified for use on NCR Corp.’s Connected Payments platform. The L5000 devices enable traditional magnetic-stripe card acceptance and EMV and contactless payments.
• New data from credit-reporting agency TransUnion finds 10 million new consumers have entered the credit card market over the past 12 months, bringing to 133 million the number of Americans with a balance on at least one card at mid-2016.
• An American Express Co. back-to-school spending survey found that parents will spend an average of $1,642 on these expenses this year, up from $1,239 in 2015.
• The Financial Services Information Sharing and Analysis Center (FS-ISAC) said former MasterCard Inc. executive Greg Temm had joined the banking industry risk-control group as chief information risk officer, a new position.
• ACI Worldwide Inc. said it will integrate the Ethoca Alerts fraud and customer-dispute data into its UP eCommerce Payments solution for online merchants. Ethoca Alerts is a service of Ethoca Ltd.
• Entrepreneur Media, publisher of Entrepreneur magazine, has established Entrepreneur Lending, a service allowing small businesses to obtain funding through lender CAN Capital, which has historically worked with independent sales organizations.
• In related news, CAN Capital named Chris Moloney as its new chief marketing officer; Moloney comes to the company from GremIn Social Media, where he was CEO, and earlier held CMO positions at Wells Fargo Advisors, Experian, and Scottrade.
• The U.S. Payments Forum (formerly the EMV Migration Forum) has announced a workshop for next month for independent ATM owners, banks, and credit unions preparing for the EMV liability shift for ATMs coming up in October.
