Monday , June 24, 2019

Credit Cards

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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Malware Found in Multiple Checkers And Rally’s Fast-Food Locations

Checkers Drive-In Restaurants Inc. said malware was discovered and removed from its point-of-sale system at some Checkers and Rally’s locations. Checkers said 15% of its nearly 900 locations were affected. The timing of the malware exposure varies, with one Los Angeles location infected from Dec. 17, 2015 to March 26, …

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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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How the Global-TSYS Deal Stitches Together Major Acquiring And Issuing Assets

Payments observers are tempted to think of the $21.5 billion proposed merger of Global Payments Inc. and Total System Services Inc. (TSYS), announced Tuesday, as the latest megadeal in a series initiated in January when Fiserv Inc. said it would acquire First Data Corp. That announcement was followed by the …

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FitBit Pay Can Tap for Transit Payments and other Digital Transactions News briefs from 5/29/19

Fitbit Inc. said its smart watches and trackers with Fitbit Pay can be used to pay for transportation on seven major transit systems globally, as well as on the contactless OMNY system set for launch May 31 by the Metropolitan Transportation Authority in New York City. Multiple law firms are …

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The Global-TSYS Merger Responds to M&A Mania But Also Integrated Payments Trends

Facing major consolidation among rival processors. Global Payments Inc. and Total System Services Inc. (TSYS) made it official Tuesday they are merging in an all-stock deal that values TSYS at $21.5 billion and will leave Global with 52% of the combined entity. The acquisition is expected to close in the …

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COMMENTARY: Why Visa And Mastercard Have Been on a Buying Spree

Amazon, Apple, and Microsoft each briefly enjoyed a market capitalization greater than $1 trillion. The two dominant global payment networks, Mastercard and Visa, aspire to join this august, and for the moment, memberless club. In the near term, the networks could grow on autopilot. However, inevitably diminishing retail-payments growth in …

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Nuvei Buying SafeCharge and other Digital Transactions News briefs from 5/28/19

Payments provider Nuvei announced it will buy SafeCharge International Group Ltd. for approximately $889 million. SafeCharge’s payment platform provides services ranging from card acquiring and issuing to processing and checkout. This confirms reports of a pending deal. Processor Payment Data Systems Inc. said Dealer Pay LLC, provider of a payments …

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