Fiserv Inc., already a behemoth in merchant processing, is preparing to straddle its twin pillars of acquiring-bank relationships, on the one hand, and its own acquiring operations through a Georgia bank charter, on the other. The charter, which the big processor applied for last month, has “a very specific purpose,” …
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Fleet Card Startup AtoB Signs an Exclusive Network Deal With Mastercard
AtoB, a 4-year-old payments platform for the trucking industry, announced Monday that Mastercard Inc. will be the exclusive network for its commercial card program. AtoB’s platform provides such tools as fleet cards, direct-deposit payroll, and access to bank accounts. The San Francisco-based fintech’s fuel card offers discounts of up to …
Read More »A Bad Start to the Year: Ransomware Spikes 130% in January
Already, 2024 is starting off with an unrelenting wave of ransomware attacks. The number of attacks last month, as registered by cybersecurity firm BlackFog, increased 130% from January 2023. Cheyenne, Wyo.-based BlackFog says the 76 attacks noted this January are the second-highest it has ever recorded. The highest number came …
Read More »Cantaloupe Makes a Play for Stadium Pay With a $4.75 Million Deal for Cheq
Cantaloupe Inc., a provider of cashless payment technology for the self-service market, has acquired Cheq Inc. for $4.75 million, Cantaloupe announced late Thursday. Cheq is a payments and ordering platform for sports, entertainment, and hospitality venues. With the acquisition, Malvern, Pa.-based Cantaloupe can enter what has become in recent years …
Read More »A New Abrigo Program Enlists AI to Counter Growing Check Fraud
In testing now, the Abrigo Fraud Detection platform is incorporating artificial intelligence into check inspection and image analysis to help banks manage check fraud. Though checks written fell from 15.5 billion in 2018 to 12 billion in 2021, according to the 2022 Federal Reserve Payments Study, they remain a significant …
Read More »High Costs And Fraud Risk Drive Sellers’ Dissatisfaction With Card Processing, J.D. Power Finds
Small businesses tend to be less satisfied with their credit and debit card processing than they are with processing for alternative payments, according to a study by J.D. Power. Based on a 1,000-point scale, with 1,000 being the highest score, merchant-satisfaction scores for credit card processing averaged 692, while scores …
Read More »Eye on POS: CardFlight Enables Mobile Invoicing; Clover Sport Hits the Ice
Point-of-sale specialist CardFlight Inc. extended the ability to create invoices to its SwipeSimple app, a feature that was previously only available via the Web version. Meanwhile, Fiserv Inc. says the Prudential Center, where the National Hockey League New Jersey Devils play, will adopt Clover Sport point-of-sale hardware and software. New …
Read More »The ACH’s Star Still Burns Bright
Despite increased competition from real-time payments networks, the automated clearing house remains a force in payments and is expected to remain one for the foreseeable future. “Ubiquitous,” “reliable,” “low-cost,” and “highly efficient” are the adjectives that payments executives seize on when asked to describe what makes the automated clearing house …
Read More »Don’t Lose the Key to Your Data Vault
For payments software platforms, control of transaction data is the key to a smooth M&A process. Analysts and business leaders have spent the past year scrutinizing the impact of increasingly volatile revenue streams on critical organizational functions. Across industries, this includes variables like employee headcount and retention, physical office requirements, …
Read More »Year in Review: North American Bancard Claimed Multiple Honors in 2023
By Dave Galens As these December days blur into a holiday haze and the year comes to a close, it’s time to look back on 2023’s memorable events for NAB. It was a very good year for the robots, as automation and AI became the big buzz for pundits and …
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