Digital Transactions Authoritative, insightful and timely information for payments professionals
• The Merchants Payments Coalition, a lobbying group for merchants on payment issues, attacked a Harvard University research paper as “just plain wrong” after the paper argued the debit-interchange caps in the Durbin Amendment to the 2010 Dodd-Frank Act drove up banking costs for consumers. • Terminal maker Ingenico Group …
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Trunk Show Event Marks a First for Amazon Payments in a Store
Online retailer Amazon.com Inc. has taken another step to broadening the reach of its payments service with the debut Friday of an in-store payment service at a New York apparel retailer. This marks the first time Amazon payments has enabled in-store payments with a merchant, Amazon says. Just a couple …
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 »ACH Alert Thwarts $615 Million in Fraud and other Digital Transactions News briefs
• Fidelity National Information Services Inc. and The Clearing House Payments Co. LLC announced they will launch a pilot for real-time payments in the first quarter of next year. The system will focus initially on bill payments and will use FIS technology along with The Clearing House’s real-time payment platform. …
Read More »Bank of America Reports Big Growth in Mobile Payments and Deposits
Mobile-wallet payments still account for less than 1% of Bank of America Corp.’s credit and debit card charge volume, but they are growing fast, as are mobile deposits, the nation’s second-largest bank reported Thursday. BofA’s mega-bank rivals JPMorgan Chase & Co. & Wells Fargo and Co. also reported growth …
Read More »Mobeewave P2P Service Leaves Test Phase and other Digital Transactions News briefs
• Canada-based Mobeewave is making its PayMeTap mobile peer-to-peer app available to consumers across Canada. The free app had been in testing. The Android app enables consumers to accept a payment by tapping a phone with a contactless credit card. • Payments company BillingTree Inc. launched the Payrazr Marketplace, …
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. …
Read More »Investors Take a Stake in an ISO and other Digital Transactions News briefs
• Prepaid card and mobile-banking provider Green Dot Corp. named three new independent directors to its board and non-independent director Sam Altman stepped down as the company expanded its board from eight to 10 directors, all but one of them now independent. Green Dot shareholder Harvest Capital Strategies LLC, which …
Read More »Cachet Renews Ingo Money Deal and other Digital Transactions News briefs
• Prepaid card provider Green Dot Corp., under pressure from an activist investor to boost earnings, announced it would buy $50 million of its Class A common shares under an accelerated stock-repurchase plan. • Remote deposit capture and mobile-payments technology provider Cachet Financial Solutions Inc. will continue to provide …
Read More »For Payments Newbies, Funding Deals Remain Plentiful But Checks Get Smaller
Funding activity for startups in the payments business continued at a hectic pace over the past six months—but the total dollars invested fell through the floor. There were 75 funding deals in the first quarter totaling $396 million, according to the latest data from CB Insights, a New York City-based …
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