Digital Transactions Authoritative, insightful and timely information for payments professionals
• Fitness-band vendor Fitbit Inc. has acquired the wearable-payments assets of Coin in a deal that closed May 12 and includes relevant personnel and intellectual property. Terms were not disclosed. Coin, which was part of a wearable-payments initiative announced earlier this year by MasterCard Inc., is best-known for a device that …
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Dallas’s Rapid Transit System Looks To Move Cash Payments to Local Retailers
More than 80% of the fare value collected by the Dallas Area Rapid Transit System at its ticket windows and on its buses comes in the form of cash, so next spring the transit agency will start offloading that cash onto local 7-Elevens and other stores. DART and PayNearMe Inc., …
Read More »Payments Network Bogeyman Durbin Unleashes Double-Barreled Inquiry Into EMV
U.S. Sen. Richard Durbin, D-Ill., made his name in the payments business with an amendment to the 2010 Dodd-Frank Act that put a cap on the debit card interchange big banks can earn. Now, he’s investigating the nation’s rocky EMV rollout with separate inquiries concerning snarled certification queues and the …
Read More »8th Annual Field Guide to Alternative Payments
Our list this year showcases some of the most interesting innovation going on in payments. As we put together this year’s Guide, we were struck by the sheer breadth of innovation the 37 entries that made this year’s list represent. Yes, much of this technology has to do with mobile …
Read More »The ‘Pays:’ Usage Remains a Struggle
When it comes to mobile-payments services like Apple Pay and Samsung Pay, the payments industry appears to be seeing adoption. But it could be years before it sees steady usage. The adoption picture, as defined by cardholders loading a card, is improving for Apple Pay, according to the latest numbers …
Read More »As More Mobile Wallets Crowd in, Wal-Mart Updates Its Shopping App With Walmart Pay
Walmart Pay, the mobile-payments app developed by Wal-Mart Stores Inc., is now broadly available to consumers as part of version 6.8 of the retailing titan’s shopping app, introduced this week for Apple Inc. smart phones. The app update, available on the iTunes store, says Walmart Pay will be “available in …
Read More »NAB Introduces Inovio Payments and other Digital Transactions News briefs
• 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 …
Read More »Following Real-Time Bill Pay, TCH Sees a Follow-Up With Speedier B2B, B2C Payments
When The Clearing House Payments Co. LLC enlisted processor Fidelity National Information Services Inc. (FIS) last fall to help it launch real-time payments in the United States, it wasn’t ready to say when the system would go live. On Monday, TCH answered that question and also cleared up what types …
Read More »The ‘Pays’ Win Plenty of Awareness and Adoption—But Usage Remains a Struggle
When it comes to mobile-payments services like Apple Pay and Samsung Pay, the payments industry appears to be seeing adoption. But it could be years before it sees steady usage. The adoption picture, as defined by cardholders loading a card, is improving for Apple Pay, according to the latest numbers …
Read More »Choice Is the Operative Word in Bill Payments, Fiserv Survey Finds
Consumers increasingly want choice in bill payments, according to findings from a new study by Fiserv Inc. The bank and payment processor’s Eighth Annual Billing Household Survey found that the average number of payment methods consumers use monthly rose from 2.9 in 2014 to 3.6 in 2015, a 24% increase. …
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