Thursday , June 21, 2018

Acquiring

Sensing Strengths, Investors Send Adyen’s Valuation Skyrocketing

Experts have been saying that the payments business is hot, but few suspected it was this hot. The 12-year-old Dutch processor Adyen N.V. gained more ground Thursday on the Euronext Amsterdam exchange before closing the day at 438 euros, or $510, down 3.7%. That’s after finishing on Wednesday, its first …

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Electronic Payments Notes Milestone and other Digital Transactions News briefs from 6/14/18

A survey from The Fraud Practice LLC, commissioned by Kount Inc., found that Apple Pay acceptance among a group of almost 600 merchants decreased to 35% from 48% a year earlier. Google Pay acceptance dropped from 38% to 25%. Support for near-field communication, the wireless technology that enables Apple Pay and …

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Eye on Small Merchants: Wells Simplifies Pricing; First Data Trumpets Clover

Wells Fargo & Co. this week disclosed a simplified point-of-sale pricing plan for small card-accepting merchants, while First Data Corp. touted the strong growth in its Clover line of payment technology for small businesses. At San Francisco-based Wells, which has a joint merchant-processing venture with First Data and is one …

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Overtaking Venmo and other Digital Transactions News briefs from 6/13/18

Investors jumped on shares of Netherlands-based payment processor Adyen Wednesday after the company priced its initial stock offering on the high end of its expected range at €240 ($282.48) per share. As of late morning Eastern time, the stock had more than doubled to €480.30 ($565.31) per share, prompting talk …

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First Data’s Star Debit Network Plans To Challenge Visa and Mastercard for Signature Transactions

Payment processor First Data Corp.’s Star debit network is poised to aggressively challenge Visa Inc. and Mastercard Inc. for a share of the signature-debit market that the global networks have dominated since signature debit became a payment option more than 20 years ago. Star gained a potentially big foothold in …

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Worldpay Tests Dynamic CVV Cards in Anticipation of Broader Availability

Worldpay Inc. is adding another tool for financial institutions in their efforts to curtail the pricey and nuisance-laden aftereffects of rampant data breaches. The company’s solution comes in the form of credit and debit cards that use a dynamic card-verification value. Cincinnati-based Worldpay is testing the Motion Code-enabled credit and …

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The MAG’s Horwedel Prepares To Step Down as CEO

Mark Horwedel, chief executive of the Merchant Advisory Group, an association of more than 100 of the nation’s biggest merchants that concerns itself with payment issues, plans to step down at year’s end. Replacing him will be John Drechny, chairperson of the group’s board of directors and currently senior director …

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Cardtronics Adds PenFed ATMs and other Digital Transactions News briefs from 6/12/18

Payment-technology firm i3 Verticals could raise almost $100 million in an expected initial public offering, according to news reports. The firm, launched six years ago as Charge Payment, is led by Greg Daily, a former chief executive at iPayment Inc. ATM network owner and operator Cardtronics plc reported that under …

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VeriFone’s Revenues Slip as Acquisition by Francisco Partners Nears

In what could be its final earnings report as a public company, point-of-sale terminal maker and online payment technology provider VeriFone Systems Inc. reported Friday that its revenues for the quarter ended April 30 fell 7.5% from a year earlier, but its quarterly loss narrowed considerably. San Jose, Calif.-based VeriFone …

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Intuit Appears to Amend Gun-Related Transaction Policy and other Digital Transactions News briefs from 6/11/18

Intuit Inc. has stopped processing gun-related credit card transactions in at least some instances, the New York Post reported. The blocked transactions included sales of gun-related T-shirts and fees for gun-safety classes, according to the report. Intuit did not respond to requests for comment, the newspaper said. Sprott Money Ltd., which …

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