Monday , June 24, 2019

Competitive Strategies

May’s Wall Street Downdraft Pulled in Payment Processors

May became the first negative month of 2019 for payments stocks as worries about tariffs and an economic slowdown as a result gripped the wider market. Chicago-based Barrington Research Associates Inc. reported Monday that a 29-company group of transaction-processor stocks posted a mean return of negative 2.57% last month. Only …

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MagicCube Looks to NTT to Help Bring PIN-on-Glass to Merchants in Japan

For decades, PIN entry has been restricted to specialized hardware devices, such as PIN pads on ATMs and at the point of sale. On Monday, a Santa Clara, Calif.-based software company headed by a former Visa Inc. executive said it will start offering to retailers in Japan its technology for …

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i3 Verticals Acquires Pace Payment and other Digital Transactions News briefs from 6/3/19

i3 Verticals Inc. completed its $52.7 million acquisition of Pace Payment Systems Inc. Pace specializes in selling payments services in the public and education sectors. Avis Car Rental, a unit of Avis Budget Group Inc., launched a split-payment feature in its mobile app. Called Split My Bill, the feature enables …

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Payments Companies Are Getting Pricier, Researcher Says

Note to payments-company owners: now just might be the right time to sell. Buyers in 2019 have paid more for firms in the payment-tech space since at least 2010, according to a new analysis by 451 Research of more than 1,100 deals over nearly a decade. The median price to …

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First New York Transit, Then Everywhere Else for U.S. Contactless Push

As New York’s Metropolitan Transportation Authority inaugurates contactless payment for fares Friday, major card brands are intensely marketing the tap-and-pay service. Mastercard Inc. announced its Fareback Friday program to reward cardholders for paying for their New York subway rides with a contactless Mastercard product. Consumers may be able to get …

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Cardtronics Waives ATM Fees for Some Tourists to U.S. and other Digital Transactions New briefs from 5/31/19

Cardtronics plc said its Allpoint ATM network and Visa Inc. reached an agreement to waive ATM fees for travelers visiting the United States from Southeast Asia who have a Visa travel prepaid card or debit card from certain financial institutions. Allpoint counts more than 40,000 U.S. ATMs. Lightspeed POS Inc., …

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Visa’s Kelly Takes a Dark View of Faster Payments, Just Not Visa’s Faster Payments

Visa Inc.’s chief executive this week questioned the drive for real-time payments by U.S. banks and merchants, but also argued Visa’s recent acquisition of business-to-business payments processor Earthport plc will help the company expand real-time payment capability beyond cardholders. Visa closed on London-based Earthport last month after winning a bidding …

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Visa Says EMV Chip Cards Continue To Gain Share and Cut Counterfeit Fraud

EMV chip cards continued to gain share of U.S. card payments in early 2019, although their conquest is not yet complete more than three years after the payment card networks’ EMV liability shifts. But Visa Inc. says counterfeit fraud is dropping sharply, as intended. Visa reported Thursday that 3.5 million …

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EMS in Cleveland Browns Program and other Digital Transactions New briefs from 5/30/19

Payments provider Electronic Merchant Systems announced its affiliation with the National Football League’s Cleveland Browns Proud Partner program. Paysafe Group said Philip McHugh will become its chief executive beginning June 24. He replaces Joel Leonoff, who will become vice chairman of the Paysafe board of directors. McHugh comes to Paysafe …

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Klarna Launches a Direct-to-Consumer App With Installment Payments Built in

Klarna, the installment-payment specialist, has released an app that enables consumers to shop a variety of merchants and pay with Klarna without leaving the app. Announced Tuesday, the Klarna app presents the retailer’s site with a footer containing a Pay with Klarna button. When selecting that option, the shopper can pay …

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