Saturday , February 23, 2019

Search Results for:

PayPal Debuts Rainbow Card for Venmo and other Digital Transactions News briefs from 2/22/19

PayPal Holdings Inc. introduced a so-called rainbow card for users of its Venmo peer-to-peer payments service. The colorful plastic, available for a limited time, is the latest version of a debit card PayPal launched last year to allow users to pay merchants with their Venmo balance. As with the original …

Read More »

ATM Deployer Paramount Makes Acquisition and other Digital Transactions News briefs from 2/19/19

ATM and payment-services provider Paramount Management Group LLC acquired CAI—The ATM Company, an independent deployer with thousands of ATMs in New Jersey, New York, Connecticut and other states. Terms of the acquisition were not disclosed. A partnership between Transaction Network Services and P97 Networks has processed in-dash fuel payments for …

Read More »

Wendy’s Announces $50 Million Data Breach Settlement and other Digital Transactions News briefs from 2/15/19

Hamburger chain The Wendy’s Co. announced a $50 million settlement of class-action lawsuits filed against it after a data breach that began in 2015. The 7,500 bank and credit-union plaintiffs alleged the breach was caused by malware that affected point-of-sale systems at more than 1,000 franchised Wendy’s locations. Some 18 …

Read More »

North America Proved Difficult for Ingenico Last Year

Ingenico Group’s business generated through North American banks and merchant acquirers had a difficult 2018, the company reported Tuesday. Full-year revenues from North America within the Paris-based point-of-sale terminal maker and payment processor’s Banks & Acquirers segment declined 9% year-over-year on a constant-currency comparable basis and 13% as reported to …

Read More »

Celebrating a Record 2018, Global Payments Vows to Ride Integrated Payments to Even Bigger Results

Global Payments Inc. on Wednesday credited a technology-centered strategy it has developed over the past six years for record results in 2018. Chief executive Jeff Sloan also pointed to the increasing investments required of payments providers as a leading cause of industry consolidation, in particular the pending merger of industry …

Read More »

In the Shadow of the Fiserv-First Data Deal, FIS Ponders ‘Actionable’ Acquisitions That ‘Make Sense’

Fidelity National Information Services Inc. expects further processor mergers in the near term and isn’t averse to initiating them in cases where they fit the company’s strategy, its chairman and chief executive said Tuesday morning. “We will always look for opportunities,” said Gary Norcross, who is also president of the …

Read More »

Eye on M&A: Visa Heats up the Bidding War Over Earthport; Clearent Picks up Coolfront

The tug-of-war over Earthport PLC continues. Visa Inc. upped its offer for the British business-to-business payment processor in a bidding war that started after Mastercard Inc. topped Visa’s original price. Visa is now offering 37 pence per share, which values the company at £247 million ($320.4 million). Visa’s new offer …

Read More »

Three Weeks From the Announcement, Fiserv Clients Are ‘Incredibly Positive’ About First Data Deal

Twenty-two days of talking to clients haven’t dampened Fiserv Inc.’s conviction that offering to buy First Data Corp. is the right move. In fact, if anything these conversations seem to have buoyed top executives’ confidence in the proposed $22 billion all-stock acquisition of the big processor. “We’ve spent a substantial …

Read More »

First Data’s North American Merchant Revenues Grew 7% in 2018’s Fourth Quarter

Merchant-processing revenues from North America grew 7% year-over-year in 2018’s fourth quarter to $1.1 billion on a comparable accounting basis, First Data Corp. reported Wednesday. First Data, which has an agreement to be acquired by processor Fiserv Inc. in a $22 billion all-stock deal, reported total quarterly revenues of $1.42 …

Read More »

As the Fiserv-First Data Behemoth Looms, Jack Henry Issues a Subtle Warning

With the proposed merger of processing giants First Data Corp. and Fiserv Inc. looming over the payments landscape, players that both work and compete with the two companies are in a potentially ticklish position. But the chief executive of one such company made it clear Wednesday morning that First Data …

Read More »

Going by Share Prices, Investors Like What They See in the Massive Fiserv-First Data Deal

Fiserv Inc. and First Data Corp. argue their proposed $22 billion combination will usher in a processing behemoth that should create substantial operating efficiencies and economies of scale. And so far, investors are buying that story. Shares of both companies are up by double-digit percentages since the Jan. 16 announcement …

Read More »

Elavon Plans To Hire 500 More Employees and other Digital Transactions News briefs from 2/1/19

Elavon, the Atlanta-based merchant-acquiring subsidiary of U.S. Bancorp, says it plans to hire approximately 500 employees globally over the next three years. Elavon currently employs more than 730 people in Atlanta and more than 4,500 worldwide. BlockChyp Inc., a payment software and gateway provider, said it completed Level 3 certification …

Read More »

Visa Eyes More Contactless Cards And More Volume From Visa Direct

Visa Inc. saw payment volume growth of nearly 11% in the quarter ended Dec. 31, and sees ever-more contactless cards and volume on its Visa Direct real-time payments service in its future. Visa on Wednesday reported a respectable first quarter of fiscal 2019, according to its chief executive, despite the …

Read More »

PayPal Chalks up a Big Quarter As It Decouples From eBay And Ratchets up Venmo

In reporting its performance for the fourth quarter of 2018 as well as the full year, PayPal Holdings Inc. indicated its dependence on former owner eBay Inc. is down, Venmo monetization is up, and active accounts are surging. Meanwhile, the San Jose, Calif.-based company said it is entering a potentially …

Read More »

Apple Pay Volume Exceeds 1.8 Billion and other Digital Transactions News briefs from 1/30/19

Apple Pay processed more than 1.8 billion transactions in fiscal 2019’s first quarter ended Dec. 31, “well over twice the volume” of the year-earlier quarter, Apple Inc. CEO Tim Cook told analysts late Tuesday, according to a SeekingAlpha.com call transcript. Apple Pay is now live in 27 countries, most recently …

Read More »

TSYS Sets ‘Aggressive Goals’ for Vital But Predicts ‘Headwinds’ From the CFPB’s Prepaid Rule

Top executives at Total System Services Inc. on Tuesday predicted big results from the Columbus, Ga.-based processor’s new Vital line of point-of-sale payment devices but also warned the onset of a massive federal regulation this spring will crimp prepaid card revenues in 2019. They also assured analysts on a conference …

Read More »

Square Faces Slower Growth Prospects, Analyst Says

Square Inc.’s share price slid 10% Tuesday in the wake of an analyst’s report saying growth for the high-flying merchant processor is becoming tougher. Square’s organic growth probably peaked in 2018’s third quarter and growth in subscriptions and services will slow in 2019’s second quarter as recent acquisitions are absorbed, …

Read More »

Mastercard Aces Out Visa in Sudden Bidding War for B2B Processor Earthport

In a rare public bidding war pitting the two leading payment card networks against each other, British business-to-business payment processor Earthport Plc’s board of directors on Friday recommended that its shareholders accept Mastercard Inc.’s all-cash buyout offer, which is 10% higher than Visa Inc.’s offer the board endorsed less than …

Read More »

Discover Reports 4Q Results and other Digital Transactions News briefs from 1/25/19

Discover Financial Services said its payments services operation, which includes network partners, Diners Club International, and the Pulse electronic-funds transfer network, processed $60.5 billion in total volume in the fourth quarter, a 12% increase year-over-year. Volume on Pulse jumped 11% to $47.1 billion owing to new issuers as well as …

Read More »

TNS Buys R2G Services and other Digital Transactions News briefs from 1/24/19

Data-communications provider Transaction Network Services acquired R2G Services, a Chicago-based provider of a market-data and managed-hosting platform; terms were not disclosed. Payment processor Repay Holdings LLC, which private-equity firm Corsair Capital acquired in 2016, said it has a definitive merger agreement with Thunder Bridge Acquisition Ltd., a special-purpose acquisition firm …

Read More »