Friday , July 20, 2018

News

July, 2018

  • 17 July

    A Visa-Sponsored Report Lays Out the Costs of a Cash-Based Economy

    Payments gurus for years have touted benefits like faster transactions, improved security, and associated rewards when it comes to mobile payments. Now a study released Tuesday indicates converting off-the-books cash payments to digital methods could also boost a nation’s gross domestic product and augment the flow of tax revenues to …

  • 17 July

    Co-Op Financial Services Debuts Cardless Cash Access and other Digital Transactions News briefs from 7/17/18

    Co-Op Financial Services said it is adding cardless ATM transactions to its roster of services for credit unions. Dubbed Cardless Cash Access, the service is available on Diebold Nixdorf and NCR ATMs within the Co-Op ATM Network that are managed using the Co-Op Terminal Driving program. Hyperwallet, whose technology enables …

  • 16 July

    PPRO Raises $50 Million in an Expansion Bid

    Cross-border payment specialist PPRO Group raised $50 million in a funding round led by PayPal Holdings Inc., Citi Ventures, and HPE Growth Capital, the London-based company announced Monday. The funds will be used to expand internationally, including the United States, where it opened an Atlanta office earlier this year. PPRO …

  • 16 July

    Bank of America’s Customers Give a Big Lift to Zelle

    Bank of America Corp.’s customers made 35.1 million Zelle person-to-person payments in the second quarter, 142% higher than the 14.5 million Zelle payments they made a year earlier, the Charlotte, N.C.-based banking giant reported Monday. The value of the P2P payments totaled $10 billion, double the $5 billion from 2017’s …

  • 16 July

    Worldpay To Roll Out Mastercard’s Pay by Bank App for E-Commerce in the U.K.

    Payment processor Worldpay Inc. said it will bring Mastercard Inc.’s Pay by Bank mobile and online payment application to its United Kingdom merchants in early 2019, and also will use other Mastercard digital services. Launched in 2016 by London-based payment-technology developer Vocalink, which Mastercard acquired in May 2017, Pay by …

  • 16 July

    Eye on Cryptocurrencies: CheapAir Lands a New Provider; Payroc Joins the Ranks of Crypto ISOs

    Online travel agency CheapAir.com says it has found a workaround that will let it continue to accept cryptocurrency, and Payroc LLC has become the latest payments provider to offer crypto to merchant clients. Calabasas, Calif.-based CheapAir notified customers on Friday that it has found a new provider for Bitcoin acceptance …

  • 16 July

    Samsung Eliminates Samsung Pay from Some Phones and other Digital Transactions News briefs from 7/16/18

    The New York Department of Financial Services has granted a virtual-currency license to cryptocurrency processor BitPay, allowing it to do business with companies and consumers in the state of New York. In an apparent cost-cutting effort, Samsung Electronics Co. Ltd. is no longer including the Samsung Pay mobile-payments service in its …

  • 13 July

    A Pair of Banking Giants Report Quarterly Numbers Indicating Robust Payments Growth

    Two of the nation’s largest banks on Friday released some details about their payments businesses indicating robust growth despite their size. JPMorgan Chase & Co., which operates one of the nation’s biggest merchant-processing centers, reported its merchant volume grew 12% in the quarter ended June 30, to $330.8 billion. For …

  • 13 July

    Contactless Dominates World Cup and other Digital Transactions News briefs from 7/13/18

    Half of all Visa transactions inside venues in Russia hosting soccer’s World Cup since the opening match June 14 have been contactless via cards, mobile devices, and wearables, the card network reports. Users of PayPal Holdings Inc.’s Venmo peer-to-peer payment service will be able to use Venmo within the Uber …

  • 12 July

    Checks Still Reign in U.S. Business Payments, but Electronic Methods Close Behind

    An international survey of financial executives shows that checks are still the most commonly used method of business payments, but paperless methods aren’t far behind. The April survey of 914 chief financial officers and other senior finance executives, including 501 from the United States, for fleet-fueling and corporate-payments provider WEX …