Tuesday , January 16, 2018


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 …

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Not Dead Yet: Growth in Cash Outpaces GDP Growth in Many Countries

Despite all the talk about mobile payments, online payments, cryptocurrencies, and EMV chip cards, the alternatives to cash still haven’t killed their sworn enemy. In fact, between 2006 and 2016, the growth of currency in circulation matched or exceeded growth in gross domestic product in 40 of 42 nations examined …

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Gone With the Wind: Hurricanes Blow a Hole in a Puerto Rican Processor’s Volumes

Hurricanes Irma and especially Maria devastated Puerto Rico-based payment processor Evertec Inc.’s business in September, and the company’s merchant business is in for a long recovery as the island struggles to restore electric power and other essential services to businesses and residences. In reviewing Evertec’s third-quarter results during a Tuesday …

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Cardtronics Shows Resiliency Despite ‘an Incredible Streak of Bad Luck’

A strong third-quarter earnings report helped lift shares of ATM network owner and operator Cardtronics plc by 4% Friday morning after they plunged 17% Thursday on news that Link, the ATM network in the United Kingdom—a key market for Cardtronics—floated a proposal to reduce interchange by 20%. Cardtronics, which has …

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First Data Buying BluePay and Other Digital Transactions News briefs from 10/20/17

First Data Corp. made it official: it is acquiring merchant processor BluePay Holdings Inc. for $760 million in cash. BluePay processes $19 billion annually for 77,000 merchants and is integrated into more than 450 software platforms. The deal is expected to close by the end of the year. First Data inadvertently …

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CPI Receives Card Patents and other Digital Transactions News briefs from 10/18/17

For U.S. Bancorp’s Elavon unit, merchant-processing revenues were down slightly in the third quarter, to $405 million, compared to a year ago, according to the bank’s earnings release. But revenue year to date is up 0.2%, at $1.19 billion, compared to the same period in 2016. Payment card manufacturer CPI …

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