Monday , December 10, 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.

Snap Will Pull the Plug on its Snapcash P2P Service

The crowded peer-to-peer payments market will soon become a little less crowded with the impending demise of Snap Inc.’s Snapcash service. Snapcash, which runs on Square Inc.’s P2P payments technology, will end Aug. 30, according to TechCrunch. The Silicon Valley news service said over the weekend that it discovered a …

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Blockchain Investments To Grow by More Than 70% Annually, Researcher Predicts

Global investment in blockchain technology will double this year compared to 2017, reaching $1.5 billion, according to a new report from International Data Corp. Investment will increase over the next five years at an annual rate of 73.2%, Framingham, Mass.-based IDC forecasts, reaching $11.7 billion in 2022. “Enthusiasm for blockchain …

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American Express Posts a 10% Gain in Card-Billed Business in the Second Quarter

Fresh from its victory in the U.S. Supreme Court, American Express Co. on Wednesday said card-billed business in the more mature U.S. market and its international markets both grew by 10% in the second quarter. New York City-based AmEx reported a total of $296.5 billion in card-billed business versus $269.6 …

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Merchant Acquiring Contributes to U.S. Bancorp’s Payment Services Gain

U.S. Bancorp’s Payment Services unit posted a 28% gain in net income in the second quarter, in part due to higher merchant-processing volumes. The unit, one of five major divisions at the Minneapolis-based super-regional bank, produced a $361 million profit versus $282 million a year earlier, or 21% of the …

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Bank of America’s Customers Give a Big Lift to Zelle

Bank of America Corp.’s customers made 35.1 million Zelle person-to-person payments in the second quarter, 142% higher than the 14.5 million Zelle payments they made a year earlier, the Charlotte, N.C.-based banking giant reported Monday. The value of the P2P payments totaled $10 billion, double the $5 billion from 2017’s …

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Worldpay To Roll Out Mastercard’s Pay by Bank App for E-Commerce in the U.K.

Payment processor Worldpay Inc. said it will bring Mastercard Inc.’s Pay by Bank mobile and online payment application to its United Kingdom merchants in early 2019, and also will use other Mastercard digital services. Launched in 2016 by London-based payment-technology developer Vocalink, which Mastercard acquired in May 2017, Pay by …

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Checks Still Reign in U.S. Business Payments, but Electronic Methods Close Behind

An international survey of financial executives shows that checks are still the most commonly used method of business payments, but paperless methods aren’t far behind. The April survey of 914 chief financial officers and other senior finance executives, including 501 from the United States, for fleet-fueling and corporate-payments provider WEX …

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The SEC Hits Carr and Companion With Insider-Trading Lawsuit

The Securities and Exchange Commission filed a civil lawsuit Tuesday accusing former Heartland Payment Systems Inc. chief executive Robert O. Carr and his girlfriend, Katherine M. Hanratty, with insider trading in connection with Heartland’s sale to Global Payments Inc. in April 2016.  The lawsuit pending in U.S. District Court in Bridgeport, …

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Google Pay Adds P2P And Mobile-Ticketing Features, But Google Pay Send Still Lives

Two previously announced features—support for person-to-person payments and a new tab for storing mobile tickets—went live Tuesday in Google Pay, Alphabet Inc.’s online and mobile-payments app. The first is a peer-to-peer payment capability, formerly known as Google Wallet, that allows users to pay or request funds from other persons. This …

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Leadership Change in the Offing as VeriFone’s Buyout Approaches

Former Pace plc chief executive Michael Pulli will replace Paul Galant as CEO of VeriFone Systems Inc. when the leading U.S.-based point-of-sale terminal manufacturer and payment services provider is acquired by private-equity firm Francisco Partners, VeriFone announced Monday. Galant, a former Citigroup Inc. senior executive who became VeriFone’s CEO in …

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