The digital-payments revolution may finally be poised to relegate cash to the sidelines of finance. Worldwide, 471 billion so-called cashless transactions flowed through payments networks in 2015, a 52% increase since the end of 2011 and up 13% over 2014, according to numbers released this week by Retail Banking Research …
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Twitter Abandons its Buy Button and other Digital Transactions News briefs
• Mastercard Inc. and investor and philanthropist George Soros announced plans “to explore private-sector solutions to societal challenges” by possibly creating a so-called social enterprise called Humanity Ventures that will apply commercial strategies to address such problems as joblessness and lack of access to health care and education. Soros might …
Read More »Clearent Buying Payment Alliance International’s Merchant Services Division
Payments provider Clearent LLC is buying Payment Alliance International’s merchant-services division, which serves more than 17,000 merchants, for an undisclosed amount, Clearent announced Wednesday. The deal adds $4.2 billion in processing volume to Clearent, pushing the combined entity’s total processing volume to $14 billion and its total number of merchants …
Read More »Currency Or Investment Vehicle? Rising Bitcoin Value Outshines Its Payments Role
The price of Bitcoin, which soared to heady heights at the end of 2016 only to drop somewhat over the last two weeks, has been much on the minds of payments observers looking to the digital currency as an intriguing new way to pay. But is Bitcoin a medium of …
Read More »Terminal Makers Unleash a Variety of Product And Service Introductions As NRF Opens
Point-of-sale terminal maker Ingenico Group is among many payments companies making announcements Monday at the National Retail Federation’s annual Big Show in New York City. France-based Ingenico says its ePayments division and its research arm Ingenico Labs now offer payment-enabled messaging bots for e-commerce merchants. Bots are an artificial intelligence …
Read More »MagTek Launches New POS Terminal and other Digital Transactions News briefs
• Payment technology provider MagTek Inc. introduced tDynamo, a compact terminal that accepts chip and magnetic-stripe payment cards as well as contactless transactions in either fixed or mobile configurations. • USA Technologies Inc. said its ePort Connect Platform’s G0-S series has been certified on the Verizon Wireless 4G LTE network. USAT’s ePort devices …
Read More »A Holiday-Shopping Test Finds Beacon-Based Mobile Offers Drive up Traffic Counts
Marketing campaigns delivered to shoppers’ smart phones have long been seen as a promising way to drive both in-store traffic and mobile payments, and during the recent holiday season one company ran a test to find out just what kind of results retailers could expect. Swirl Networks Inc., a 6-year-old …
Read More »First Data Launches Integrated Solutions Group in a Bid To Open Its Platform to Developers
First Data Corp.’s newest division, the Integrated Solutions Group, is designed to entice software developers to create tools that hook into the giant processor’s payments platform. Announced Friday, the division is meant to foster ties between the Atlanta-based processor and independent software vendors, value-added resellers, software developers, and systems integrators. …
Read More »BofA Card Volume Increases 4% and other Digital Transactions News briefs
• Bank of America Corp. reported combined credit and debit card purchase volume of $134.3 billion in the fourth quarter, up 4% from $129.5 billion a year earlier and up 6% when adjusted for earlier divestitures. • Wells Fargo & Co. reported debit card purchase volume of $78.4 billion in the fourth …
Read More »Wal-Mart’s New Android Version of Scan & Go May Signal Wider Appeal of Self-Checkout
Wal-Mart Stores Inc. has released an Android version of its Walmart Scan & Go self-checkout app that consumers use on their smart phones. This version joins the iOS app currently being tested at a single Wal-Mart store in Rogers, Ark., and could indicate consumers are increasingly embracing the self-checkout concept just …
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