Monday , June 24, 2019

Competitive Strategies

Networks Say SRC Will Go Live Later This Year to Simplify—And Secure—Digital Checkouts

A standards body controlled by the major card networks released on Friday a long-awaited standard aimed at simplifying and securing consumer checkouts on the Web and in apps. By mid-morning, American Express Co., Discover Financial Services, and Mastercard Inc. had announced they intend to implement the spec later this year. …

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Stripe Backs Step Mobile and other Digital Transactions News briefs from 6/7/19

Step Mobile Inc., a startup financial-services firm focusing on teens, raised $22.5 million in a Series A funding round led by payment processor Stripe Inc. Nearly 51% of retailers surveyed for the latest annual loss-prevention and security report from the National Retail Federation said risks and threats from return fraud, …

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Square Aims to Declutter the Restaurant Point of Sale—And Stay Ahead of Merging Competitors

Merchant processor Square Inc. is making it easier for its restaurant clients to use third-party delivery services, while at the same time fortifying itself against bigger merchant acquirers slated to merge into even bigger ones. San Francisco-based Square, which has its own restaurant delivery, pick-up, and catering service called Caviar, …

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Global Growth Leads to Nearly 41 Million Terminals Accepting Contactless, Researcher Says

With last week’s introduction of contactless card acceptance on New York City subway and bus systems, hopes are riding high on mass transit to at last stimulate contactless acceptance and usage in the United States. Now recent research indicates acceptance is picking up rapidly pretty much everywhere.  The number of …

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Discover CFO Retiring and other Digital Transactions News briefs from 6/6/19

Discover Financial Services chief financial officer R. Mark Graf will retire in early 2020, Discover announced. Graf joined Discover in 2011. The company has hired an executive-search team to find his successor. American Express Co. enhanced the rewards package on its Gold Card; cardholders will now get 4-times Membership Rewards …

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Could Square’s Misdirected Emails Lead to a Big Opportunity for Apple?

The news this week that Square Inc. had misdirected consumers’ digital receipts to the wrong people has prompted some observers to point to new authentication technology as a solution. An emerging option some are zeroing in on is Apple Inc.’s Sign in with Apple, which the company unveiled Monday and …

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Glance’s Real-Time Bill Option Appears To Drive Glance Pay Transactions up

Glance Technologies Inc. said its Real-Time Bill feature is increasing transactions made with its Glance Pay app in some restaurants as much as 300% in the 30 days following a Real-Time Bill launch. That’s in comparison to the 30-day period prior to the launch, Vancouver, British Columbia-based Glance said Wednesday. …

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Western Union Adds Visa Direct and other Digital Transactions News briefs from 6/5/19

The Western Union Co. said it will enable Visa Inc.’s Visa Direct real-time push-payment service. The move follows the remittance-processing company’s announcement in late 2017 that it would adopt Mastercard Inc.’s rival service, Mastercard Send. Merchant processor VizyPay launched a program called Cash Discount 2.0, which calls for merchants to …

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For Bitcoin, Tentative Signs Emerge of Rising Merchant Volume

Most economic activity with Bitcoin remains on trading exchanges, but lately there is some evidence volume at merchants may be picking up. Bitcoin’s total merchant volume, in dollar terms, was $42.8 million in the week ended May 19, according to the latest figures from Chainalysis Inc., a New York City-based …

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PayFi Adds Real-Time Payments Option and other Digital Transactions News briefs from 6/4/19

PayFi, which provides a banking platform, said it will offer real-time payments services from The Clearing House Payments Co. LLC to community banks. Most U.S. consumers—38%—are likely to use a credit card for online subscription payments, finds a report from GoCardless, a recurring-payments company. Thirty-four percent choose a debit card, …

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