Tuesday , June 25, 2019

Issuing/Originating

Will Facebook’s Big User Numbers Be Enough to Catapult Calibra?

Facebook Inc. has said it will turn over control of its Libra cryptocurrency initiative to a consortium of companies that will constitute the Libra Association. But one related property the massive social network will retain, albeit as an arm’s-length subsidiary, is its new Calibra unit, which will run Facebook’s own …

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COMMENTARY: Artificial Intelligence Should Be the Next Big Payments Push

When we think about artificial intelligence (AI) and machine learning, the first image that comes to mind might be a chess-playing computer or a driverless car. In addition to such futuristic applications, these cutting-edge technologies are already changing and enhancing many aspects of our day-to-day lives, including how we make …

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Chip Cards Make Gains, but the U.S. Still Lags Most of the World in EMV Adoption

EMV chip card payments made substantial gains in the U.S. last year, but the nation still lags most other regions in EMV penetration, according to new figures from payment card standards body EMVCo. Some 53.5% of general-purpose U.S. card-present transactions in 2018 were so-called chip-on-chip, meaning both the point-of-sale terminal …

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Regulators Balk at Facebook’s Libra and other Digital Transactions News briefs from 6/19/19

The Facebook-led announcement of the Libra cryptocurrency is evoking blowback both in the United States and overseas. House Financial Services Committee chairwoman Maxine Waters (D-Calif.) called for Facebook to halt the planned launch of Libra until Congress has had a chance to hold hearings on the cryptocurrency. Elsewhere, the governor …

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Facebook And 27 Other Companies Announce Libra, a New Blockchain-Backed Crypto Coin

An association of major payments and technology companies will launch a blockchain-based digital currency called Libra some time in the first half of next year, according to an official announcement on Tuesday. The new initiative, some details about which have leaked in recent days, has the backing of Facebook Inc. …

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Celero Commerce’s Two Acquisitions and other Digital Transactions News briefs from 6/18/19

Celero Commerce announced two acquisitions, those of Elmhurst Financial Services and Tandem Innovative Payment Solutions. Following the deals—financial terms were not disclosed for either—Celero will have approximately 25,000 merchants and process approximately $10 billion in annual payment volume. Payment Alliance International said it acquired ISA-ECash, an ATM operator and developer …

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As Facebook’s Libra Provokes A Slew of Questions, An Expert Struggles With the Coin’s ‘Justification’

Facebook Inc. is expected to release details this week, perhaps as early as Tuesday, on its Libra cryptocurrency initiative, but for now what’s known about the project has at least some experts shaking their heads. “Why a cryptocurrency, and why Facebook?” asks Tim Sloane, who follows digital currencies as vice …

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No Data Lost in Weekend Target POS Glitches and other Digital Transactions News briefs from 6/17/19

Target Corp. was hit by two point-of-sale glitches this past weekend. On Sunday afternoon the retailer was unable to process certain card transactions at some of its 1,800 stores for about 90 minutes due to an issue at a data center of its payment-services vendor, NCR Corp., Reuters reported. Sunday’s …

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Payments Companies Sign up to Help Manage Facebook’s Expected Crypto Entry

At least four payments companies are set to participate in a consortium formed by Facebook Inc. to launch a cryptocurrency next year aimed at commerce rather than exchange trading, according to a report Friday in The Wall Street Journal. Facebook is expected to officially announce the initiative next week. The …

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PPRO Acquires Allpago and other Digital Transactions News briefs from 6/14/19

Cross-border payments firm PPRO announced its acquisition of Allpago, a payment and gateway provider in Latin America. Terms were not disclosed. Payments-services provider i2c Inc. said it is working with Zero, a financial-technology company that provides banking services. Payveris LLC completed its $7 million Series D funding round led by …

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