Digital Transactions Authoritative, insightful and timely information for payments professionals
By Jim Daly MasterCard Inc. announced Thursday that it has a deal to buy gateway businesses from TNS Inc. that will expand the global footprint of its DataCash e-commerce subsidiary. Terms of the deal, which is expected to close by year’s end, were not disclosed. The sale includes two units …
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TSYS Embraces A New Technology Approach Called Surround
Payment processor Total System Services (TSYS) this week says it is embarking on a new approach to technology, one that forms a core component of its business and information technology strategy. Called Surround, the approach is expected to lead to products that have easier integrations, greater flexibility and financial innovation, …
Read More »MCX Chief Davidson Strikes Defiant Tone While Touting Benefits of CurrentC’s Wallet
By John Stewart Merchant Customer Exchange LLC (MCX) has launched its CurrentC mobile-payment service with “thousands” of consumers in “several American cities,” the program’s chief executive said on Wednesday. The “consumers,” employees of retailers that make up the Needham, Mass.-based MCX consortium, are part of a pilot for the fledgling …
Read More »Eye on Tech: Small Businesses Snub NFC; Vantiv Completes Durbin-Compliant Debit Transaction
By Jim Daly Results of a merchant processor’s survey released Wednesday claim that only 4% of small businesses have point-of-sale terminals that can accept near-field communication (NFC) contactless mobile payments, and only a small minority currently plan to upgrade their equipment so they can. Meanwhile, payment processor Vantiv Inc. on …
Read More »Poynt Recruits Chase Paymentech and Vantiv To Distribute Its New Terminals
Conspicuously absent from new point-of-sale terminal maker Poynt Inc.’s Oct. 30 unveiling was how the new company’s L-shaped, portable devices would be distributed. The answer to that question came Monday when Poynt chief executive Osama Bedier revealed that two of the nation’s largest merchant acquirers, Chase Paymentech and Vantiv Inc., …
Read More »First Data’s Clover Adds Mobile Functionality to Hit the Aisles
First Data Corp.’s Clover point-of-sale system now is available in a mobile version that enables merchants to roam their store aisles with the device. Dubbed Clover Mobile, the service can be paired with the stationary Clover Station or used as a standalone service, First Data says. Like Clover Station, Clover …
Read More »CPI, Sequent Pair Up on NFC Provisioning Service for Banks
CPI Card Group is working with digital issuance and wallet platform provider Sequent Software Inc. on CPIMobile, a service to deliver secure digital credentials to near-field communication (NFC)-compatible smart phones. CPI announced Monday. NFC is a two-way protocol that enables mobile devices to share data in a secure environment. CPIMobile …
Read More »Online Lending Platforms Ramp up to Fill Small-Merchant Void Left by Banks
With financial institutions lending less to small businesses, new, technology-based companies are moving into merchant lending to fill the void. This is a market typically served by so-called merchant cash-advance firms, companies that lend money in the form of advances against a merchant’s expected credit card volume. In many cases, …
Read More »Don’t Write off POS Terminals Just Yet
The Gimlet Eye The rapid emergence of mobile devices and mobile apps in retail settings has led some observers of the payments business to predict the near-term demise of the humble point-of-sale payments terminal. We demur, for reasons we lay out in our story “POS Terminals Have a Future, And …
Read More »How About Apple eCash Pay?
Security Notes If Apple Inc. attached a rolled-up dog leash to its iPhone 6, a majority of dog owners would abandon their old leash and phone-walk their dog—just because it is Apple. So no matter what pundits write about the new Apple Pay mobile-payments service, it will fly high. Conceptually …
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