JetPay Corp. reported a 15% year-over-year increase in fourth-quarter 2017 revenues to $19.9 million. The payment and payroll processor posted a net loss of $3.9 million, including $2.87 million in accretion of convertible preferred stock. Shift4 Payments said more of its payments services are available to users of ResortSuite, a …
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Protecting Businesses and Customers from Fraud
According to the Breach Level Index, more than 9.24 million data records have been lost or stolen since 2013, and while the introduction of EMV chip cards has caused a drop in counterfeit card fraud, US Payments Forum says “card not present” (CNP) fraud is on the rise. “The United …
Read More »How Tweaks to Visa’s Chargeback Program Are Expected To Speed Up Resolutions
Visa Inc. is altering its chargeback-resolution program to condense the reason codes into four categories, amend the time to resolve a disputed transaction, and make other changes. According to data on a Chase Paymentech site, the changes are set to go into effect April 15 because the card brand wants to …
Read More »COMMENTARY: Why Kiosks Are Becoming Must-Have Technology in the Retail Space
Kiosks, and the technology that supports them, are hardly new. We’ve been using kiosks to check in at the airport and print out a wedding registry at our local home-goods store for years. But today, kiosks are moving into fast-food restaurants, rental-car stores, drugstores, malls, and everywhere in between. In …
Read More »Macy’s New Self-Checkout Feature and other Digital Transactions News briefs from 3/20/18
Macy’s Inc. said it is launching a self-checkout feature in its mobile app that lets customers scan an item with their phone and pay with a registered card. So-called mobile-checkout stations validate purchases, take off security tags, and bag the goods. The launch follows a test at the chain’s Woodbridge, …
Read More »Gap Wants Its Top Suppliers To Ditch Cash Payments to Workers by 2020
Apparel and accessories retailer Gap Inc. wants its leading suppliers to stop paying workers in cash by 2020 and instead pay them digitally. San Francisco-based Gap, which had nearly $16 billion in sales last year and owns the Old Navy, Gap, Banana Republic, and Athleta brands, said this week that …
Read More »Dorsey Invests in Blockchain Start Up and other Digital Transactions News briefs from 3/15/18
Blockchain start-up Lightning Labs raised $2.5 million in seed financing from investors that included Jack Dorsey, the CEO of Square Inc. and Twitter Inc., CNBC reported. Lightning Labs is developing technology that it says will make Bitcoin transactions faster and cheaper. The Square Cash app supports Bitcoin. BlockCypher, a blockchain …
Read More »First American Payment Systems in Apptizer Integration and other Digital Transactions News briefs from 3/14/18
Payments provider First American Payment Systems said its payment-processing services are now available to merchants using the Apptizer Order Ahead Mobile App from developer Apptizer Inc. ATM deployer Payment Alliance International said it and multicurrency payment processor Planet Payment Inc. extended a multiyear contract for dynamic currency conversion at PAI’s …
Read More »Veem Now Offers Working Capital and other Digital Transactions News briefs from 3/9/18
Cross-border payments provider Veem announced it now offers working capital to merchants through a deal with merchant-financier BlueVine. Payments provider Bluefin Payment Systems LLC said its services will be available to users of practice-management software from Rev360 that is designed for use in eye-care practices. Payments provider Century Business Solutions …
Read More »Seeking Fast Growth, WorldRemit Expands Into New York’s Remittance Market
As the emergence of smart phones and online services make cross-border remittances easier and less costly for users, companies have emerged to serve that fast-growing market. The latest move comes from WorldRemit, an 8-year-old firm that last week expanded into the state of New York, home to 4.5 million immigrants. …
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