Digital Transactions Authoritative, insightful and timely information for payments professionals
• Merchant processor North American Bancard Holdings introduced its Inovio Payment gateway service; NAB says Inovio’s name is taken from the word “innovation” and that the service, which includes a virtual point of sale and hosted checkout solutions, will open new markets for the company.
• Wal-Mart Stores Inc. has changed operational procedures to cut average EMV chip card transaction times by 11 seconds, one of which was deleting a prompt that asked customers to confirm the sale amount, The Wall Street Journal reported; Visa Inc. also is tweaking EMV protocols.
• As expected, prepaid card services provider Green Dot Corp. launched a new version of its MoneyPak reload product for sale starting at Rite Aid and Kroger stores and coming to other retailers throughout 2016; cardholders in approximately 300 prepaid programs can use the mobile-enabled new MoneyPak, which charges $5.95 for cash reloads of $20 to $500. Green Dot suspended the earlier MoneyPak in February 2015 because of its popularity with fraudsters.
• Green Dot, which faces a proxy fight, filed a proxy statement for its May 23 annual shareholder meeting.
• Merchant processor iPayment Inc. named veteran merchant-acquiring executive OB Rawls to the newly created position of co-president; Rawls most recently was a senior vice president at First Data Corp.
• PayPal Holdings Inc. says a study by Internet metrics firm comScore Inc. shows PayPal has an online conversion rate of 87.5% compared with 51.1% for Visa Inc.’s Visa Checkout service and 45.6% for other payment types; PayPal also said it added its One Touch checkout service to 59 more markets.
• Merchant processor Heartland Payment Systems Inc. announced an arrangement with Petrosoft, a vendor of retail point-of-sale solutions by which Heartland gains access to Petrosoft’s technology and Petrosoft will add Heartland’s payroll, financing, and payment-processing capabilities.
• Data-security vendor ControlScan has updated its PCI External Vulnerability Scanning service to include a better viewing experience on different devices, an improved workflow, multi-target scanning, and, later this summer, a multiple-location scanning capability.
• Battery Ventures agreed to acquire Goldleaf Enterprise Payments, formerly known as Alogent Corp., from Jack Henry & Associates for undisclosed terms. The company, which will be known as Alogent, specializes in solutions that capture, process, and analyze check images and data, including images captured on mobile devices.
