Monday , June 18, 2018

Issuing/Originating

Already Ahead of Venmo in Dollars, Zelle Is Poised to Jump Ahead in Users, a Forecaster Says

Now officially a year old, Zelle is steadily gaining momentum. San Francisco-based Bank of the West, the 29th largest bank in the country ranked by assets, announced Thursday it will join the bank-controlled person-to-person payment network, which already claims some of the biggest financial institutions in the country. Also this week, …

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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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CU Adds Fiserv Card Controls and other Digital Transactions News briefs from 6/6/18

Processor Fiserv Inc. said VyStar Credit Union, which ranks 17th among U.S. credit unions by asset size, has become the company’s first client to adopt an enhanced mobile-banking platform that offers newly introduced card controls. The controls allow cardholders to set rules for when, where, and how their cards can be …

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Eye on Mastercard: An Assist for FIs on Artificial Intelligence, And New ATM Services

With demand for artificial-intelligence capability soaring across most industries, Mastercard Inc. on Monday announced it is making the technology available to client institutions through a program it calls AI Express. Also on Monday, Mastercard and ATM maker Diebold Nixdorf Inc. unveiled a pair of new cardless ATM features. The new …

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Eye on Virtual Cards: A New API And New Software Promise to Ease a Heavy Burden

Three companies on Thursday released technology aimed at streamlining virtual cards, digital versions of familiar plastic credit cards that banks can issue to consumers and businesses. Switch Inc. unveiled a version of its Cardsavr card-on-file technology that issuers can integrate now. The new release automates the entry and updating chore …

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Generation Z Emerges With a New Way of Thinking About Payments

Generation Z is about to become a major force in financial services and payments, and that will change how payments providers market their services to them. That assertion, in the “Technologies Influencing Generation Z Payments Adoption” report released this week by Javelin Strategy & Research, is based, in part, on …

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Nearly All of Visa’s Payment Volume Now Comes From Chip Cards, the Network Reports

Some 97% of Visa Inc.’s total U.S. payment volume stemmed from EMV chip cards in March, according to the card network’s latest periodic report on EMV’s progress in the United States. EMV volume totaled $70.7 billion, up from $4.8 billion in September 2015, the last full month before the country …

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