With the deadline for EMV-at-the-pump compliance up to four days away—and with a shortage of installation technicians slowing compliance—Sound Payments Petro Solutions, a provider of technology solutions for the petroleum industry, announced Monday it is partnering with fuel-dispenser parts specialist Freedom Electronics to provide preconfigured EMV retrofit kits to simplify …
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Square Debuts in Ireland and other Digital Transactions News briefs from 4/9/21
Square Inc. entered the acquiring market in Ireland with its Early Access Program, which offers small and medium-size merchants what the company calls exclusive access to Square technology. Square expects to launch its technology generally in Ireland later this year.Transact Holdings Inc., a specialist in payments technology for college campuses, said …
Read More »A New Model for Value Exchange
It’s time to replace interchange with a model that fairly represents the value each party receives. Fintechs have shown us the way to create exciting new forms of financial services. But we are merely scratching the surface of what the age of intelligent systems can do for the payments industry. …
Read More »Why Cryptocurrencies Still Aren’t Ready for Prime Time
Despite scattered successes, too many pitfalls dot the road to widespread merchant acceptance. Bitcoin and other cryptocurrencies captured the public imagination over the past year, as Bitcoin shattered record after record, PayPal and Square Cash announced they would allow customers to buy cryptocurrency, and major financial institutions such as Bank …
Read More »A Fingerprint Card Tech Advances After Achieving Compliance With Mastercard Specs
Card-based biometric authentication took a step forward with an announcement early Wednesday that a technology from Fingerprint Cards AB has complied with reference specifications set by Mastercard Inc. The compliance is a first for fingerprint authentication on a card, according to Sweden-based Fingerprints and Fime, an organization that consults on …
Read More »EMVMadeEZ Debuts and other Digital Transactions News briefs from 3/29/21
Amadis, Advanced Mobile Payment Inc., and Texas Engineering Consulting Systems and Services said they launched the jointly-developed EMVMadeEZ, a pre-certified EMV migration product for automated fuel dispensers. The product enables convenience store operators, small chains, and single gas station owners with an EMV-at-the-pump service.Payments-technology provider AEVI International GmbH said it is …
Read More »Major Brands Lag on Mobile Acceptance Despite a Drive for Contactless, a Study Finds
After the pandemic struck a year ago, stores scrambled to install technology to support a wide range of payment options, including tap-and-pay, to reassure skittish consumers. But now a new report indicates those efforts may not have gone as far as many have assumed, particularly in the area of contactless …
Read More »ACH Settles Four Times Daily Now and other Digital Transactions News briefs from 3/22/21
Nacha, The Clearing House Payments Co. LLC and the Federal Reserve, which collectively manage the automated clearing house network, said the addition of a third daily processing window for same-day ACH took effect on March 19. The ACH network now settles payments four times each business day.Mobile-wallet technology provider Citcon USA LLC said …
Read More »Blackhawk Network Launches eGiftcard Platform
With more merchants embracing omnichannel sales strategies that blend brick-and-mortar and e-commerce shopping, Blackhawk Network Inc. is enabling merchants to sell digital gift cards in-store. With Blackhawk’s eGift card platform, merchants can engage customers at multiple marketing touchpoints throughout the store, such as gift card racks and gift card displays …
Read More »Justice Department Investigating Visa Debit Acceptance and other Digital Transactions News briefs from 3/19/21
The U.S. Justice Department is investigating Visa Inc.’s practices regarding online and in-store debit card acceptance, according to reporting by The Wall Street Journal. The probe is centered on whether Visa has restricted merchants’ ability to flow transactions over less-costly networks, according to sources who spoke to the newspaper.Fintech Enova International said it acquired Pangea …
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