Thursday , April 19, 2018

Mobile Commerce

Google Formally Unveils Its Work-in-Progress Google Pay, the Successor to Android Pay

After announcing a coming rebranding for its Android Pay mobile and online payment service in January, Alphabet Inc.’s Google subsidiary on Tuesday formally unveiled the new Google Pay. But the rebranding, centered on a new mobile app for Android devices, is a work in progress, with more changes and new …

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Eye on Acquiring: Shopify’s Volume Booms; North American Revenues Grow for Global Payments

More sales on its commerce platform and more payment-processing business from its merchants translated into a 71% revenue increase for Shopify Inc. in the fourth quarter. And the big merchant acquirer Global Payments Inc. reported Thursday that its North American revenues grew 9% in the quarter. Ottawa, Ontario-based Shopify, which …

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Currencycloud Eyes U.S. Expansion in Bid for More International Payments Volume

Currencycloud, an international payments platform based in the United Kingdom, has hired a U.S. general manager in a push to capture more cross-border payments volume from U.S. merchants. Currencycloud announced Richard Arundel as the general manager of Currencycloud North America. Arundel, a co-founder of Currencycloud, spent the past two years …

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Payfone Continues To Attract Investment From Payments Companies, This Time Synchrony Financial

Mobile-authentication technology provider Payfone Inc. has raised another $23 million in a new funding round that included retail card payment services provider Synchrony Financial. The exact investment from Synchrony Ventures, Synchrony Financial’s venture-capital arm, wasn’t disclosed in Tuesday’s announcement. An undisclosed institutional investor led the funding round. In addition to …

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A Startup Enlists E-ZPass for Car-Based Payments Away From Toll Booths

A Boston-based startup on Tuesday announced a service that lets holders of E-ZPass transponders pay for such things as car washes, gasoline, and drive-through items from their cars. Under an agreement with the E-ZPass Group, Verdeva Inc.’s PayByCar service will start a pilot program that lets users create an account …

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Don’t Know About TLS? You, and Your Merchants, Soon Will

A July 1 PCI Security Standards Council deadline is prompting payments providers to act well before then, with many establishing their own compliance deadlines in February. What has provoked this eagerness? It could be that noncompliance with the PCI mandate could halt merchant transactions that rely on the Internet. The …

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ProPay Launches Payment Network for Software-as-a-Service Firms

ProPay, a unit of Total System Services Inc. (TSYS), announced the debut of the ProPay Payment Network Wednesday. The service targets software-as-a-service providers and aims to make it easier for them to make payments among merchants, marketplaces, affiliates, consultants, and partners. TSYS says it does that through a single point …

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PayPal Takes a Beating As the Spotlight Shifts to eBay’s Payments Plans With Adyen

When news broke last week that eBay Inc. will begin moving away from its tight embrace of PayPal Holdings Inc. for payment processing, investors immediately punished PayPal’s stock, interpreting the move as a big blow to the company’s business. But the frenzy of PayPal shorting may have overlooked one thing: …

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For PayPal, a New Deal Extends Its Link to eBay Even As It Seeks Out Other Marketplaces

PayPal Holdings Inc. on Wednesday said it has reached an agreement with its former owner, eBay Inc., that calls for PayPal to act as a checkout method on eBay for three years beyond the end of the five-year pact that separated eBay and PayPal in 2015. In that three-year period, …

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Bank-Owned Zelle Puts Venmo’s Millennial Enthusiasts Squarely in Its Cross-Hairs

Payments observers who think Venmo and Square Cash have locked up the Millennial crowd for peer-to-peer payments may have to reconsider. With the new advertising blitz it announced Monday, the bank-owned Zelle service is making it plain it plans to steal its share of this huge consumer market. “The advertising …

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