Thursday , April 19, 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.

PayPal Anticipated Cryptocurrency Processing Slowdowns a Year Before They Became a Problem

The cryptocurrency world often gets feverish upon news that an established power in payments or financial services has turned its attention to matters of Bitcoin or its cohorts. Such was the case Monday when reports surfaced that PayPal Holdings Inc. had applied for a patent for a so-called “expedited virtual …

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Chase To Offer Canadian Small Businesses Lower Discount Rates for AmEx Payments

The Canadian Federation of Independent Business announced Monday an agreement with JPMorgan Chase & Co.’s Chase Merchant Services that the trade group of small and medium-sized merchants says could bring cuts of nearly 50% for accepting American Express Co. cards to its 110,000 members. The Toronto-based CFIB said Chase, its …

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Financial-Industry Standards Body IFX To Combine Operations With NACHA

Automated clearing house governing body NACHA and the Interactive Financial eXchange Forum Inc. (IFX) this week announced they intend to combine their operations. Founded in 1997, the Wakefield, Mass.-based IFX Forum is an international non-profit that developed and promotes the IFX business message specification as an open, interoperable for standard …

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Integration Tasks Emerge Now that the Vantiv-Worldpay Merger Is Official

The merger of payment processors Vantiv Inc. and London-based Worldpay Group plc was completed Jan. 16, and up next for leaders of the combined company is integration of operational platforms, selling products to a wider customer base, and achieving their goal of $200 million in cost savings in three years. …

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Square Claims $1 Billion in Annual Volume on Its Cash Card

Square Inc. on Tuesday pulled back the curtain, at least a little bit, on its Cash App and the related Cash Card, a Visa-branded debit card. The app has 7 million active users, and cardholders spent $90 million using the card in December, good for annualized volume of $1 billion, …

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Blackhawk’s Proposed $3.5 Billion Buyout Headed Toward Mid-Year Close

No other bidders emerged during a so-called go-shop period that expired earlier this month, so Blackhawk Network Holdings Inc. reported Tuesday that its planned $3.5 billion buyout by two investment firms remains on track to close at mid-year. The Pleasanton, Calif.-based provider of gift cards and other prepaid card services …

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Discover Teams Up with FitPay To Provide Contactless Payments With Wearables and IoT Devices

Discover Financial Services cardholders will be able to make point-of-sale contactless purchases with wearables and Internet of Things devices that use FitPay Inc.’s FitPay Payment Platform under an agreement announced Monday by the two companies. The new service will provision payment credentials using the Discover Digital Exchange, Riverwoods, Ill.-based Discover’s …

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Many Firms Pay a Price for Compromising Mobile Security in the Name of Efficiency

Some 27% of executives with responsibility for their organization’s mobile devices said their firm had experienced a security incident in the past year involving the loss of data or system downtime in which mobile devices played a key role, according to new findings from Verizon Communications Inc. In addition, 32% …

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Eye on Security: 124 Breaches Already Reported in 2018; Cost of Malicious Cyber Activity May Exceed $100 Billion

Some 124 new data breaches have become known this year as of Feb. 16, the Identity Theft Resource Center reports. And the White House’s Council of Economic Advisors issued a study last week pegging the cost of malicious cyber activity to the economy in 2016 at $57 billion on the …

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Google Formally Unveils Its Work-in-Progress Google Pay, the Successor to Android Pay

After announcing a coming rebranding for its Android Pay mobile and online payment service in January, Alphabet Inc.’s Google subsidiary on Tuesday formally unveiled the new Google Pay. But the rebranding, centered on a new mobile app for Android devices, is a work in progress, with more changes and new …

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