Wednesday , December 13, 2017

News

December, 2017

  • 12 December

    VeriFone Unloads Its Taxi Business, But Confronts a Challenging U.S. Market

    VeriFone Systems Inc. has finally shed its underperforming taxi business, but it still faces a North American market hampered by a three-year delay in an EMV deadline for U.S. petroleum marketers. The San Jose, Calif.-based point-of-sale company sold the taxi unit on Tuesday for $30 million. VeriFone, which will retain …

  • 12 December

    The Point-of-Sale Future May Be Handheld And Carry a Bevy of Benefits, Says Javelin

    The seemingly unending growth in online shopping is doing more than closing physical stores. The point of sale in the stores that remain is changing, and along with it, payments providers, says Javelin Strategy & Research in its “2017-2021 Retail Point of Sale Payment Forecast.” As consumers continue to increase …

  • 12 December

    Klarna Notes Financing Program Success and other Digital Transactions News briefs from 12/12/17

    Mastercard Inc. launched Assemble, a prepaid service aimed at Millennials that features a digital prepaid account, a mobile app, and a physical or digital card. The service also includes budgeting capability and peer-to-peer payments through Mastercard Send. The company says it plans to extend versions of Assemble to other markets, …

  • 11 December

    Chicago Transit Authority To End Issuance of Open-Loop Fare Cards

    The Chicago Transit Authority, an early proponent of open-loop fare payments, announced Monday that the general-purpose payment feature in some of its fare cards will expire Dec. 31. The operator of the nation’s second-largest transit system says riders did not embrace the idea of a CTA-provided general-purpose prepaid account coupled …

  • 11 December

    AmEx Says It Will End Its Signature Requirement, Leaving Visa As the Last U.S. Holdout

    American Express Co. on Monday became the third of the four major U.S. card brands to announce it will cease requiring signatures for transactions made with its cards at the point of sale beginning in April 2018. AmEx says its rule change applies to all point-of-sale purchase transactions globally, a …

  • 11 December

    Fed Names Payments Security Leader and other Digital Transactions News briefs from 12/11/17

    The first Bitcoin futures contracts began trading at 6 p.m. Eastern Time Sunday and almost right away the volume of activity crashed a Web site operated by the exchange, Cboe Global Markets Inc. After an initial run up, Bitcoin was trading around $16,500 by 10 a.m. Monday. A rival exchange, …

  • 11 December

    COMMENTARY: Instant Check Cashing Earns Customers And Grows Revenue

    The reasons why consumers hate checks are numerous: waiting for a check to arrive in the mail, finding an institution to deposit it, waiting another three to five days for funds to clear, then fearing it might bounce. Nearly everyone would agree that it’s an antiquated process filled with stress …

  • 8 December

    Bitcoin’s Fast Rise Has Investors Giddy But Obscures a New Solution for Network Growth

    Bitcoin’s heady rise this year has pleased investors and drawn the attention of derivatives exchanges and other institutional players, but it may also have obscured a development going on behind the scenes to solve one of the digital currency’s biggest drawbacks: its weakness as a payment method. Bitcoin, which started …

  • 8 December

    Consumers Using More Revolving Credit and other Digital Transactions News briefs from 12/8/17

    Consumer revolving credit jumped 9.9% on an annualized basis in October, seasonally adjusted preliminary data from the Federal Reserve show. Revolving credit outstandings, most of which are credit card debt, hit $1.01 trillion, up 5.9% from $955.3 billion in October 2016. PayCargo LLC, an online-payment platform that allows shippers and carriers to …

  • 7 December

    Cardless ATM Use Advances With Bank’s Deployment of Mastercard’s Cash Pick-Up Service

    The evolution of ATMs away from strictly card-based usage and toward mobile devices advanced Thursday when Fort Lee, N.J.-based Cross River Bank reported that it is the first bank to offer Mastercard Inc.’s Cash Pick-Up service. The service, which Mastercard announced in September, enables so-called underbanked or unbanked consumers to …