Monday , July 16, 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.

First Data Buys Big Student-Loan Servicer’s Technology Platform

Payment card processor First Data Corp. is getting into student-loan processing with its acquisition of Navient Corp.’s technology platform. Terms of the deal announced Wednesday were not revealed. An undisclosed number of Navient employees will become First Data employees, and Jeff Whorley, who has been group president of asset management …

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Credit Unions Hold the Line on ATM Fees, Bankrate Study Finds

Bankrate LLC’s latest study of checking account pricing at credit unions found that ATM surcharges and foreign fees haven’t changed much in the past year.  The April study of the top 50 credit unions by deposits revealed that ATM surcharges—fees charged by ATM owners to non-customers who use their machines—actually …

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PayPal Is Buying Sweden’s iZettle for $2.2 Billion

In its biggest acquisition yet, PayPal Holdings Inc. is buying Stockholm-based payments firm iZettle AB for $2.2 billion. The San Jose, Calif.-based online payments provider late Thursday confirmed an afternoon of rumors about the pending deal. Jacob de Geer, iZettle’s chief executive and co-founder, will stay on after the acquisition’s …

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Payment Processor Spindle Cancels an Acquisition, But Rents the Target Company’s CEO

The struggling merchant processor Spindle Inc. canceled its planned acquisition of independent sales organization and gateway provider VyaPay, but reported Wednesday that it plans to form a so-called strategic alliance with VyaPay, and VyaPay’s chief executive will provide day-to-day management of Spindle. Mesa, Ariz.-based Spindle, whose shares trade over the …

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Eye on Transit: How Payment Convenience Could Boost Ridership; DART Updates Mobile App

It’s easy to see how convenience in the form of longer service hours and lower fares might increase ridership on public transportation systems, but new survey results show that mobile apps that combine various transit options, including payments, could also boost ridership. London-based mass-transit software developer Masabi Ltd. recently released results …

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Chili’s Reports Malware-Related Data Compromise at Company-Owned Restaurants

An undetermined number of Chili’s Grill and Bar restaurants sustained a data breach in March and April, Chili’s parent company Brinker International Inc. reported over the weekend. Dallas-based Brinker divulged few details in a Saturday post on the Chili’s Web site and in a new release the same day. It …

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Cardlytics Prepares for a Potential Tripling of Its Active User Base by 2019’s End

Cardlytics Inc. is building its infrastructure to support as many as 200 million monthly active users of its merchant-funded rewards program by the end of 2019, more than three times the 60 million it currently has, company executives said Thursday. The big expansion comes as Cardlytics’ grows its business with …

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U.S. Worldpay Merchants Begin Migration to Vantiv Platform

Worldpay Inc. reported Thursday that the integration of its predecessor companies, U.S.-based Vantiv Inc. and United Kingdom-based Worldpay Group plc, continued apace in the first quarter, and that revenues on a combined basis grew 12% year-over-year. The 115,000 merchants served by pre-merger Worldpay’s Atlanta-based U.S. operation are moving to Vantiv’s …

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Global Payments Goes Camping in Its Quest for New Integrated-Payments Partners

Merchant acquirer Global Payments Inc. is teaming up with yet another company owned by private-equity firm Vista Equity Partners as it looks for new opportunities to integrate payment processing with software providers serving a wide range of businesses. Last week, Atlanta-based Global announced a deal with RA Outdoors LLC, which …

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An Airline Group Is Developing a Payment System That Would Bypass the Card Networks

An airline trade group has teamed up with Germany’s Deutsche Bank to develop a payment system that would bypass the credit card networks, potentially saving users billions in interchange. The proposal comes from the International Air Transport Association, which says it has 280 members representing 83% of air traffic. The …

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