Thursday , November 14, 2019

An ISO’s Dry Cleaning Stake and other Digital Transactions News briefs from 9/12/19

  • United Merchant Services Inc. said it acquired the rights to Royal Western Computer’s assets, including its point-of-sale software for dry cleaning merchants, branding, trademarks, licensee database, and sales channels. Royal Western Computer holds more than 25% of the dry cleaning POS market, UMS said. The company intends to expand by combining UMS’s payment services with the Royal Western POS software.
  • Mastercard Inc. announced Mastercard Track, a business-to-business payments service that it anticipates can modernize B2B payments. One component is the Track Business Payment Service, a single connection to multiple payment types, including automated clearing house, account-to-account, and card-based payments. The service is in testing in North America with greater availability in the first half of 2020 starting in the United States.
  • Total System Services Inc. (TSYS) launched the TSYS Authentication Platform to provide real-time verification of customer identities to help prevent and reduce account takeover, application, and transaction fraud.
  • Visa Inc. completed its acquisition of Verifi Inc., a provider of tools that allow merchants, acquirers, and issuers to resolve chargebacks.
  • Payment-security firm SecurityMetrics said it will present a solution it has patented to fight so-called formjacking, which involves the skimming of information on e-commerce payment pages. The presentation will take place next week at the North America Community Meeting of the PCI Security Standards Council.
  • Payments provider Wirecard said it will enable funding on both physical and digital cards for clients using loans issued by fintech funder Credibly.
  • 2Checkout said it is in compliance with the Payment Services Directive 2 framework, including strong customer authentication and 3-D Secure 2.
  • Property-management software provider Yardi Bill Pay said its customers can make electronic bill payments to vendors using a Mastercard Inc. virtual credit card.
  • The Western Union Co. announced an expansion in Canada through an alliance with Paramount Commerce, payment technology company. Canadians can send money using or the mobile app from their bank account directly to bank accounts in more than 100 countries.
  • CPI Card Group Inc. debuted Second Wave, a payment card made with recovered ocean-bound plastic.
  • Net Element Inc. appointed Tom Lineen vice president of strategic initiatives. He most recently was president and chief revenue officer of US Merchant Systems.

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