Monday , December 10, 2018

News

July, 2018

  • 31 July

    Aliant Payment Systems’s In-House Crypto Service and other Digital Transactions News briefs from 7/31/18

    E-commerce marketplace and payments-technology provider Shopify Inc. reported revenue for the quarter ended June 30 of $245 million, up 62% year-over-year. Gross payments volume totaled $3.6 billion, up 64% from $2.2 billion in the same quarter last year. Shopify posted a $30.8 million operating loss, nearly double the $15.9 million …

  • 30 July

    Kroger’s Foods Co Lobs a Grenade at Visa in the Ongoing Guerrilla War Over Card-Acceptance Costs

    Citing acceptance costs, Foods Co, a California unit of leading supermarket chain The Kroger Co., says it will stop accepting Visa credit cards Aug. 14 at 26 stores. “Foods Co is discontinuing the acceptance of Visa credit cards to save on the high costs associated with the credit card company’s …

  • 30 July

    Buoyed by Its ISV Strategy, First Data Eyes a Joint-Venture Resurgence

    Processor First Data Corp.’s strategy of providing payments integration to independent software vendors appears to be yielding results. The Atlanta-based company said it signed 94 ISVs in the second quarter. That, along with good growth in its direct-sales channel, contributed to the 17.1% growth in second-quarter revenue in First Data’s …

  • 30 July

    Contactless Payments Forecast and other Digital Transactions News briefs from 7/30/18

    Joe Kaplan, the chief executive of merchant processor Paya and former president of the Electronic Transactions Association’s board of directors, died unexpectedly last week, the ETA announced. Kaplan was the former CEO of Total Merchant Services and founded Innovative Merchant Solutions, which he sold to Intuit Inc. in 2003 and …

  • 27 July

    ISOs Urged To Begin Thinking Beyond Pure Profit

    The independent sales organization business is one that has spawned multimillion-dollar fortunes for numerous entrepreneurs. But perhaps it’s time for the industry to begin thinking beyond pure profit, merchant-acquiring executives suggested Thursday. The executives participated in a panel dubbed “Payments Doing Good” at the MidWest Acquirers Association annual conference in …

  • 27 July

    Reports Show How Fast P2P Payments Are Growing for Bank And Nonbank Providers

    Long an afterthought in payments, peer-to-peer transfers are top-of-mind in the industry just now, and this week three reports emerged to show just how fast the payment type is growing for bank and nonbank networks alike. The bank-owned Zelle network processed 100 million transactions totaling $28 billion in the three …

  • 27 July

    Volume Jumps 14% for Discover’s Payment Services Unit

    The Pulse debit network, Diners Club International, and the network partners of Discover Financial Services collectively generated $57.3 billion in second-quarter volume, a 14% increase from a year earlier, Discover reported Thursday. Pulse, the biggest of the three units in Discover’s Payment Services segment, posted $44.3 billion in volume, up …

  • 27 July

    Stripe Enters Issuing and other Digital Transactions News briefs from 7/27/18

    Processor Stripe launched Stripe Issuing, a platform to aid merchants creating their own credit and debit cards. The service enables developers and businesses to create physical or virtual cards with a single application programming interface call to the platform. Stripe said it is not issuing cards directly to consumers. Physical cards …

  • 26 July

    In a Bid To Spur Order-Ahead Restaurant Sales, Grubhub Pays $390 Million for LevelUp

    Restaurant-services specialist LevelUp is being sold to Grubhub Inc. for $390 million. Announced Wednesday, the deal weds Boston-based LevelUp, with its expertise in digital ordering, payment, and loyalty, with Grubhub’s online and mobile food-ordering services. Chicago-based Grubhub also owns the Seamless, Eat24, AllMenus, and MenuPages brands. The deal is an …

  • 26 July

    Mastercard Profit Jumps 33% as U.S. and Global Volumes Grow

    Mastercard Inc. posted a 33% increase in second-quarter profit as its worldwide purchase volumes rose nearly 16% and U.S. volume grew 10.5%. New business wins, including cobranded cards, and more customers for existing products drove the higher numbers. “We continue to make excellent progress with cobrands,” Mastercard chief executive Ajay …