Wednesday , February 20, 2019

Issuing/Originating

Same-Day Transaction Boom Helps Propel the ACH to a $51 Trillion Year

Same-day automated clearing house transactions more than doubled in 2018 and the value of those payments increased 83% in the first full year of same-day ACH debit service, NACHA reported Tuesday. The same-day volumes helped the sprawling ACH network continue its growth streak, with total payments up nearly 7% and …

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ATM Deployer Paramount Makes Acquisition and other Digital Transactions News briefs from 2/19/19

ATM and payment-services provider Paramount Management Group LLC acquired CAI—The ATM Company, an independent deployer with thousands of ATMs in New Jersey, New York, Connecticut and other states. Terms of the acquisition were not disclosed. A partnership between Transaction Network Services and P97 Networks has processed in-dash fuel payments for …

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Eye on Cryptocurrency: Demise of a Visa Card; Crypto for Truck Parts; a Calmer Bitcoin

A Visa-branded debit card from Shift Financial Inc. that enabled consumers with accounts at digital currency exchange Coinbase to spend based on funds held in their Coinbase accounts reportedly will cease operations in April, said the CoinTelegraph.com news site. The card, issued by Metropolitan Commercial Bank, reportedly faced a limited …

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A Coming Boom in Voice Commerce? and other Digital Transactions News briefs from 2/18/19

Voice commerce accounted for only 1% of U.S. online purchases last year, but is projected to grow to 5% by 2023, research firm Euromonitor International said. Research and consulting firm Mercator Advisory Group released the “Securing E-Commerce: Competing Technology Crowds the Market” report that examines e-commerce fraud and measures and …

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Wendy’s Announces $50 Million Data Breach Settlement and other Digital Transactions News briefs from 2/15/19

Hamburger chain The Wendy’s Co. announced a $50 million settlement of class-action lawsuits filed against it after a data breach that began in 2015. The 7,500 bank and credit-union plaintiffs alleged the breach was caused by malware that affected point-of-sale systems at more than 1,000 franchised Wendy’s locations. Some 18 …

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The U.S. EMV-Accepting Merchant Base Grew by 400,000 Locations in 2018

The number of U.S. merchant locations accepting EMV chip cards grew nearly 15% in 2018 while EMV payment transactions rose 27%, according to new data from Visa Inc.  In its latest report on the conversion of U.S. general-purpose payment cards from magnetic stripes to EMV chips, Visa says 3.1 million …

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Chase Testing Its Own Cryptocurrency and other Digital Transactions News briefs from 2/14/19

JPMorgan Chase & Co. will within a few months begin testing its own cryptocurrency for wholesale payments between corporations and banks globally, according to CNBC. The new token, called JPM Coin, will be exchangeable at the rate of $1 each. The development may surprise some observers, given the harsh criticism …

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Kroger Pay Launches and other Digital Transactions News briefs from 2/13/19

Grocer The Kroger Co. launched Kroger Pay and the Kroger Rewards debit card. Kroger Pay, available for iOS and Android mobile devices, is a Quick Response code-based mobile-payment service, which also includes digital coupons and personalized offers. Currently, Kroger Pay is available in Columbus, Ohio, with plans for nationwide expansion …

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Card Expenditures To Top $45 Trillion by 2023, With Contactless Boosting the Total, RBR Says

While global card expenditures will increase 80% to $45 trillion by 2023 from $25 trillion in 2017, growth in the United States will be slow compared to other regions because the U.S. is already a well-developed market, says RBR Research in its “Global Payment Cards Data and Forecasts to 2023” …

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In the Shadow of the Fiserv-First Data Deal, FIS Ponders ‘Actionable’ Acquisitions That ‘Make Sense’

Fidelity National Information Services Inc. expects further processor mergers in the near term and isn’t averse to initiating them in cases where they fit the company’s strategy, its chairman and chief executive said Tuesday morning. “We will always look for opportunities,” said Gary Norcross, who is also president of the …

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