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Square Inc.’s future may include public ownership if reports late last week that it filed for a confidential initial public offering are correct. Both BloombergBusiness and The Wall Street Journal reported the filing, permitted under the Jumpstart Our Business Startups (JOBS) Act, which enables companies with less than $1 billion …
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Just $50 in Fraud Would Motivate 32% of Small Businesses To Adopt EMV
What will it take to get small businesses to accept EMV payment cards? Apparently $50 in fraud charges will motivate 32% of them to install EMV-capable point-of-sale terminals. That’s the finding from a survey released Thursday by Cayan, a Boston-based payments company. While 32% said $50 when asked what amount …
Read More »Five Years Later, What’s the Bottom Line on Durbin? Well, It’s Complicated
By John Stewart Five years after it became the law of the land, the Durbin Amendment remains as controversial as it was then, with virtually no agreement in sight on such questions as whether merchants have cut prices in response to interchange savings or whether consumers have paid more for …
Read More »Judge Grants Restraining Order to Backpage.Com in Credit Card Dispute With Sheriff
A federal judge on Friday granted a temporary restraining order in favor of online classified-advertising portal Backpage.com, which challenged Cook County, Ill., Sheriff Thomas Dart after Visa Inc. and MasterCard Inc. granted Dart’s request to ban card payments on Backpage because the site allegedly facilitates the sex trade. A spokesperson …
Read More »Eye On Earnings: AmEx’s Earnings Slip But OptBlue Grows; Discover’s Pulse Volume Dips
By Jim Daly and Kevin Woodward American Express Co. saw total revenues and profits decline by 4% in the second quarter, but its OptBlue program has added 700,000 small merchants this year. Meanwhile, Discover Financial Services reported late Wednesday that its Pulse volume fell after losing a large issuer. New …
Read More »Visa Posts 25% Profit Increase as U.S. Credit and Debit Volumes Climb
A tepid world economy didn’t stop Visa Inc. from posting an 8% increase in global transaction volume and a 25% jump in net income for the quarter ended June 30. The leading payment card network on Thursday reported operating revenues of $3.52 billion for the third quarter of fiscal 2015, …
Read More »Only a Minority of Consumers Would Buy Wearable Technology: Survey
Only 42% of consumers would consider or have already bought wearable technology. That’s one result from a Bank of America Corp. survey of more than 1,000 U.S. adults. Wearables garner much attention because of their mobile-payments capabilities. These devices—mostly watches—enable consumers to make mobile payments without using a smart …
Read More »Backpage.com Sues Cook County Sheriff in Payment Card Acceptance Dispute
The owner of online classified-advertising portal Backpage.com is suing the sheriff of Cook County, Ill., in federal court for pressuring payment card networks to ban card purchases in Backpage’s adult section. The lawsuit filed Tuesday by Backpage.Com LLC in U.S. District Court in Chicago alleges Sheriff Thomas J. Dart engaged …
Read More »Biometrics Poised To Become Predominant Mobile-Commerce Authentication Method: Report
Biometrics will be the secure authentication mechanism for 65% of all mobile-commerce transactions in five years. That’s the forecast from Acuity Marketing Intelligence, a Denver-based research firm, in its “The Global Biometrics and Mobility Report: The Convergence of Commerce and Privacy” report released last week. The forecast says this will …
Read More »Investors Give a Thumbs Up to the Newly Independent PayPal
After a 13-year absence, online-payments provider PayPal Holdings Inc. debuted Monday morning on the Nasdaq Stock Market as an independent company following its spin-off Friday from parent eBay Inc. Investors looking for growth opportunities in payments liked what they saw, pushing PayPal’s price up approximately 6% and valuing the company …
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