Saturday , June 6, 2020

Jim Daly

Jim Daly joined Digital Transactions in 2006 after covering payments and merchant acquiring at Thomson Media’s Credit Card Management, Credit Card News, and CardLine publications. Before that, he was a reporter and editor at the daily Leader-Telegram in Eau Claire, Wis.

Merchant Acquirer Shift4 Payments Prices IPO Above Expected Range

Investors appear eager to buy stocks of payment-processing companies as evidenced Thursday by Shift4 Payments Inc. pricing its initial public offering at $23 per share, nearly 10% above the high end of the $19 to $21 range it had expected just days earlier. Shift4’s shares opened late Friday morning on …

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The FTC Announces Settlement With ISO That Processed for Fraudulent Online Marketer

The Federal Trade Commission this week announced a settlement with an independent sales organization that processed $80 million in payments for “My Online Business Education,” or MOBE, a business-coaching and investment opportunity the FTC deemed fraudulent and shut down in 2018. Under an order and permanent injunction in U.S. District Court …

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Visa Reports Improving Volume Trends in May

U.S. payment volume growth was still in negative territory in May thanks to the Covid-19 pandemic, but the picture was brighter than it was in April, Visa Inc. reported late Monday. “In May, total U.S. payments volume declined 5% year-over-year, a 13 percentage point (ppt) improvement over April,” Visa said …

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Shift4 Looks to Raise Up to $315 Million Through Its IPO

Shift4 Payments Inc.’s pending initial public offering took a step forward Monday when the merchant processor filed an amended prospectus stating it plans to sell 15 million shares of common stock at a range of $19 to $21 per share. At the maximum price, the sale would yield $315 million …

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A Majority of Online Transactions Are Now Made With Mobile Devices, comScore Finds

Mobile devices have captured more than 50% of online purchase transactions in many large countries, according to new research findings from comScore Inc. Mobile wallets, however, still account for only a minority of total mobile purchases. Reston, Va.-based comScore, which researches Internet usage, says mobile’s share of online transactions rose …

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The U.S. EMV Chip Card Count Surpasses 1 Billion

Four years after the EMV chip card standard became the law of the U.S. payments land, the number of credit and debit cards with an EMV chip now exceeds 1 billion, and 63% of U.S. card-present transactions in 2019 involved an EMV card being read by an EMV-capable terminal, up …

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FIDO Alliance Launches Effort To Make Consumers Aware of Its Authentication Technology

After years of working with Internet firms and payments and tech companies to develop its authentication standards, the Fast IDentity Online (FIDO) Alliance on Wednesday unveiled a Web site to familiarize consumers with its work and a symbol that indicates a Web site or device is using its technology. The …

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ATM Counts Slip in the U.S., Canada, and China, New Study Shows

Led by the removal of 30,000 ATMs in China, the number of ATMs worldwide fell by 15,000 units, or 0.5%, in 2019 to 3.23 million machines from 3.25 million in 2018, according to new findings from London-based research firm RBR. The United States and Canada also saw declines in their …

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Many Small Businesses Clawing Back From Their Pandemic Lows, New Processor Data Show

A new report from CardFlight Inc., a point-of-sale technology provider serving more than 60,000 small businesses through its SwipeSimple service, shows merchant activity climbing back to just about where it was in early March when the Covid-19 outbreak began to hit the economy hard. Total sales in the SwipeSimple merchant …

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A Rogue First Data ISO Will Cost Fiserv $40 Million in a Proposed Settlement With the FTC

Fiserv Inc. and the former head of an independent sales organization will pay $40.2 million to settle charges brought by the Federal Trade Commission stemming from alleged illegal actions committed by the ISO from 2012 to 2014 while it obtained processing services from First Data Merchant Services, whose parent company …

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