NCR Corp. bolstered its position at the point of sale this week by announcing a deal to buy Radiant Systems Inc. for $1.2 billion in cash. Alpharetta, Ga.-based Radiant Systems is a specialist in POS software and hardware for various merchant segments, especially the hospitality industry and specialty retailers. …
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Blaming the Fed’s Durbin Rule, Tempo Payments Prepares to Shut Down
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Read More »With $5 Million Round, Mobibucks Is Latest NFC Alternative to Draw Investors
While point-of-sale payments using near-field communication (NFC) technology appear to be drawing closer, systems that let consumers make mobile payments in stores without NFC are drawing investor interest. This week, Mobibucks, a Louisville, Ky.-based startup, announced a $5 million Series A funding round led by Acadia Woods Partners. The …
Read More »Deal for Zong Hands PayPal New Funding Option for Mobile Payments
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Read More »Looking Ahead: Fed’s Rule Will Complicate Debit Game for All Players
n It also raises as many questions as it answers. n He refrained from speculating on what changes might be made, but the panel agreed the Fed’s room for maneuver is constrained by Congress. The Fed’s rule implements the Durbin Amendment to the Dodd-Frank Act, passed by Congress last …
Read More »As Fed Debit Rule Sinks in, Merchant Class Action Grinds Toward Trial
Now that the Federal Reserve’s new debit card interchange regulations are finally out in the open, the profile of yet another payment card interchange and rules controversy is slowly rising. That’s the raft of merchant antitrust lawsuits pending in U.S. District Court in Brooklyn, N.Y., collectively known as “MDL 1720.” …
Read More »Visa Will Defend Its PIN-Debit Business in the Post-Durbin World
Visa Inc. is bracing itself to lose some PIN-debit transaction volume in the newly regulated U.S. debit market, but the industry leader says it is ready to meet any challenges from competitors. “I still believe that we’re in a better position to compete in this environment than anyone else,” executive …
Read More »The Gimlet Eye: The Age of Fees
Barring any dramatic departures from script by the Federal Reserve, which is charged with writing the regulations to implement the Durbin Amendment, it now appears that law’s stringent limits on debit card interchange will go into effect more or less on schedule, perhaps this month. The banks’ last hope …
Read More »Trends & Tactics
Keeping a Wary Eye on the Networks Forget about Google and PayPal. Merchant acquirers are more worried about competitive threats from their long-time spouses by forced marriage, the payment card networks. That intelligence comes from an Aite Group LLC survey of 20 industry executives, including 17 chief …
Read More »Acquiring: A Partly Cloudy Forecast
Karen Epper Hoffman The recession and the shaky recovery have taken their toll on acquiring, though the business has fared better than most other industries. Now, the business could be set to soar—if factors like Durbin don’t choke off growth. In an economy where even the strongest …
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