Wednesday , July 18, 2018

News

July, 2018

  • 18 July

    To Fight Skimming, a Major Credit Union Servicer Adds a Cardless ATM Program

    The days of dipping a card into an ATM to withdraw cash may not be as frequent for even more consumers with the announcement Wednesday that Co-Op Financial Services launched its Cardless Cash Access service. Rancho Cucamonga, Calif.-based Co-Op, a credit-union service organization, says the service can be used on …

  • 18 July

    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 …

  • 18 July

    Crypto Gets a Boost As Bitcoin Surges And Mastercard Scores a Networking Patent

    After weeks of listless trading, Bitcoin has rallied over the past 24 hours, shooting up from the high-$6,000s to the mid-$7,000s in a move that has brought new energy to other leading cryptocurrencies. Coincidentally, Mastercard Inc. on Tuesday was awarded a patent for a system that could allow users of …

  • 17 July

    A Visa-Sponsored Report Lays Out the Costs of a Cash-Based Economy

    Payments gurus for years have touted benefits like faster transactions, improved security, and associated rewards when it comes to mobile payments. Now a study released Tuesday indicates converting off-the-books cash payments to digital methods could also boost a nation’s gross domestic product and augment the flow of tax revenues to …

  • 17 July

    Co-Op Financial Services Debuts Cardless Cash Access and other Digital Transactions News briefs from 7/17/18

    Co-Op Financial Services said it is adding cardless ATM transactions to its roster of services for credit unions. Dubbed Cardless Cash Access, the service is available on Diebold Nixdorf and NCR ATMs within the Co-Op ATM Network that are managed using the Co-Op Terminal Driving program. Hyperwallet, whose technology enables …

  • 16 July

    PPRO Raises $50 Million in an Expansion Bid

    Cross-border payment specialist PPRO Group raised $50 million in a funding round led by PayPal Holdings Inc., Citi Ventures, and HPE Growth Capital, the London-based company announced Monday. The funds will be used to expand internationally, including the United States, where it opened an Atlanta office earlier this year. PPRO …

  • 16 July

    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 …

  • 16 July

    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 …

  • 16 July

    Eye on Cryptocurrencies: CheapAir Lands a New Provider; Payroc Joins the Ranks of Crypto ISOs

    Online travel agency CheapAir.com says it has found a workaround that will let it continue to accept cryptocurrency, and Payroc LLC has become the latest payments provider to offer crypto to merchant clients. Calabasas, Calif.-based CheapAir notified customers on Friday that it has found a new provider for Bitcoin acceptance …

  • 16 July

    Samsung Eliminates Samsung Pay from Some Phones and other Digital Transactions News briefs from 7/16/18

    The New York Department of Financial Services has granted a virtual-currency license to cryptocurrency processor BitPay, allowing it to do business with companies and consumers in the state of New York. In an apparent cost-cutting effort, Samsung Electronics Co. Ltd. is no longer including the Samsung Pay mobile-payments service in its …