• Vantiv Inc. has agreed to provide processing services to McCoy Federal Credit Union in central Florida. Services include ATM, debit, and credit card processing as well as MobiMoney, a feature that lets customers use their mobile device to turn cards on and off and receive alerts. • The U.S. …
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With Its Latest Results, the ACH Extends Its String of 5%-Plus Growth Quarters
By John Stewart @DTPaymentNews Traffic on the nation’s automated clearing house network has perked up over the last couple of years, and the latest statistics show no slacking off in that trend. Second-quarter transaction volume on the ACH grew 5.6% in the quarter ended June 30, down from the first …
Read More »Oberthur Touts 5-Day EMV Card Production and other Digital Transactions News briefs
• A status conference in the massive credit card interchange case known as MDL 1720 is set for Thursday in U.S. District Court in Brooklyn, N.Y., in the wake of the $5.7 billion settlement in the case being overturned by an appellate court June 30. The case is returning to …
Read More »Global Payments’ Heartland Merger On Track, Executives Say
The $4.3 billion merger of Global Payments Inc. and Heartland Payment Systems Inc. appears to be paying off. Atlanta-based Global Payments released its fiscal fourth-quarter and year-end results Thursday. For the year, which ended May 31, total revenue of $2.9 billion was up 4.5% from $2.8 billion in the prior year. …
Read More »FIS Reports 43.5% Revenue Increase and other Digital Transactions News briefs
• Q2 Holdings Inc., a vendor of virtual-banking solutions to regional and community financial institutions, announced its plan to begin supporting the origination of same-day automated clearing house transactions on Sept. 23, the day the first phase of a three-phase introduction of same-day ACH is set to begin, as determined …
Read More »First Data’s Clover Targets Sports Arenas and other Digital Transactions News briefs
• Citing “changes in the market and an increasing number of mobile payment and banking options available” from financial institutions, the telco-led Canadian mobile-payments service suretap is shutting down as of Aug. 26, according to its Web site. The move follows the January 2015 failure of a similar telco-controlled venture …
Read More »Supreme Court Agrees to Appeal in ATM Lawsuit and other Digital Transactions News briefs
• Grocery store giant The Kroger Co. filed a federal lawsuit against Visa Inc. accusing the card network of trying to force it to allow customers to verify EMV debit card purchases with signatures, and thereby route transactions to the Visa network, rather than with PINs as Kroger prefers, The …
Read More »LaSalle Capital Takes a Stake in Processing.com and other Digital Transactions New briefs
• By the end of August American Express Co. will not hold merchants liable for counterfeit fraud chargebacks for transactions under $25 as part of its updated U.S. fraud policies for EMV chargebacks. By the end of 2016, AmEx plans to limit the number of counterfeit fraud chargebacks to 10 …
Read More »Dwolla’s Faster-Payments Plan and other Digital Transactions News briefs
• Money-transfer specialist Dwolla Inc. submitted a 164-page proposal for speedier electronic payments, dubbed FiSync, to the Federal Reserve’s Faster Payments Task Force. • Fuel-pump manufacturer Gilbarco Veeder-Root introduced its FlexPay IV, a payment terminal developed with VeriFone Systems Inc. that Gilbarco says is the industry’s first terminal for a …
Read More »8th Annual Field Guide to Alternative Payments
Our list this year showcases some of the most interesting innovation going on in payments. As we put together this year’s Guide, we were struck by the sheer breadth of innovation the 37 entries that made this year’s list represent. Yes, much of this technology has to do with mobile …
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