Monday , June 18, 2018

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.

Bank of America Merrill Lynch Brings Single-Use Account Numbers to Business Payments

Bank of America Corp.’s Merrill Lynch subsidiary on Monday announced enhanced capabilities for its Virtual Payables service, including the ability by corporate card-using businesses to create single-use account numbers in real time. In addition to the single-use card numbers, businesses with a BofA Merrill purchasing card can connect directly to …

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The PCI Council Creates Associate QSA Program To Ease Cybersecurity Talent Shortage

The PCI Security Standards Council on Thursday unveiled its Associate Qualified Security Assessor program aimed at reducing a shortage of data-security professionals in the payments industry. The Wakefield, Mass.-based PCI Council certifies QSA companies to perform assessments of a firm’s compliance with the Payment Card Industry data-security standard, the main …

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Mobile Deposits at Community Banks and Credit Unions Grew 35% in 2017, Software Firm Says

Mobile remote deposit capture transactions jumped 35% in 2017 over the previous year thanks to an increase in users, a software firm specializing in digital-banking applications for community banks and credit unions reports. “For banks and credit unions live for all of 2017, mobile deposits grew by an average of …

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Merchant-Funded Rewards Program Developer Cardlytics Seeks More Growth Via an IPO

Cardlytics Inc., which analyzed 18 billion U.S. purchases in 2016 from customers of more than 1,600 financial institutions, last week filed for an initial public offering of stock that it hopes will raise $75 million in gross proceeds to further expand its marketing platforms. Atlanta-based Cardlytics was founded in 2008 …

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Gift Card Provider Blackhawk Network Going Private in $3.5 Billion Buyout

Gift and prepaid card services provider Blackhawk Network Holdings Inc. reported Tuesday that it has a deal with two financial firms to be taken private for $3.5 billion. Private-equity firm Silver Lake Management L.L.C. and hedge fund P2 Capital Partners are offering $45.25 per share in cash. The offer represents …

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Zelle Rolls Out the First National TV Commercials for Its P2P Service

Zelle on Saturday was set to run the first spots in its initial national mass-media marketing campaign, which is centered on the Tony and Grammy Award-winning actor and rapper Daveed Diggs in an effort to appeal to what the bank-controlled person-to-person payments service calls the “mobile majority” of consumers. The …

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Eye on Banks: Chase’s Merchant Volume Hit $1.2 Trillion in 2017; Debit Purchases Rise 6% at Wells

JPMorgan Chase & Co., the largest U.S. bank by assets and the biggest bank that runs its own merchant-acquiring operation, reported Friday that it processed $1.19 trillion in payment volume from merchants last year, up 12% from $1.06 trillion in 2016. Chase’s merchant volume rose 13% in 2017’s fourth quarter …

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LG Is Poised To Enter the U.S. Mobile-Payments Fray

South Korea-based consumer-electronics giant LG Electronics plans to bring its LG Pay mobile-payments service to the U.S. in a few months. But with its smart phones in the hands of only 10% of American consumers, how much market share LG Pay can capture and how it can distinguish itself from …

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Cannabis Vendors Shrug Off Hard-Line Federal Policy, but Full-Service Payments Remain Elusive

After a short-lived scare, investors in the budding cannabis sector don’t seem to be rattled by the hard line being taken by U.S. Attorney General Jeff Sessions against their industry. But the legal marijuana industry is certainly no closer to getting payment card merchant accounts and other mainstream financial services, …

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Eye on CES: Rear-View Mirror Payment Authentication and a Multi-Function Card

The huge CES (formerly the Consumer Electronics Show) expo is underway in Las Vegas, and out of it are coming the latest whiz-bang developments in payment technology. Among them: connected cars that enable the driver to pay for gas with a Visa card and authenticate the transaction with an iris …

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