Digital Transactions Authoritative, insightful and timely information for payments professionals
• A variety of financial-services firms, including MasterCard Inc., SWIFT, and Visa Inc., participated in a 130-page report released Friday by the World Economic Forum that concludes “distributed-ledger technology will form the foundation of next-generation financial services infrastructure in conjunction with other existing and emerging technologies.”
• M&T Bank announced an expanded agreement with ATM network operator Cardtronics plc under which the bank’s customers can make surcharge-free transactions at 120 M&T-branded ATMs in Speedway convenience stores in New Jersey and on Long Island, N.Y., in addition to existing bank-branded ATMs in 48 Speedways in Pennsylvania.
• Mobile-wallet provider Mozido said 14 banks within the Taiwan Mobile Payment Co. consortium have launched the company’s mobile-payments platform based on host card emulation, a technology that allows mobile devices to be provisioned with card credentials from a cloud-based configuration. The other 12 TWMP banks will launch the service later in the year. TWMP represents the Texas-based company’s first client to launch its HCE product.
• First Data Corp.’s latest SpendTrend report, which tracks point-of-sale purchase volumes at merchants served by the processor, says spending grew 2.9% year over year in July, the highest rate of the year so far. July’s increase compares with 1.0% for June and 2.2% in July 2015. Spurred by travel-related volume, credit card spending grew 6.2% in July.
• BluePay Processing LLC compiled a guide for small businesses about the Payment Card Industry data-security standard and myths surrounding compliance with the rules for card acceptance.
• Researcher Grand View Research Inc. published a report projecting that global sales of point-of-sale systems will total $33.41 billion by 2024.
• Point-of-sale terminal maker Pax Global Technology Ltd. released its first-half 2016 financial results.
