News

October, 2017

• 17 October

  Letting Users Pay Merchants With Venmo Could Spur New Revenue From a New Crowd

  

  PayPal Holdings Inc. has been talking for more than a year about allowing users of its popular Venmo person-to-person payments app to use the app to pay merchants. On Tuesday, the payments company threw the door wide open for Venmo, announcing it can now be used to pay at as …
• 17 October

  Visa Invests in B2B Payments Provider Billtrust

  

  Visa Inc. reported Tuesday that it has invested in Billtrust and is working with the business-to-business payments provider to streamline the reconciliation of B2B payments and increase the automation of virtual card payments for financial institutions and their corporate customers. The companies did not reveal the size of Visa’s investment, …
• 17 October

  Phillips 66’s ACH Payment Service and other Digital Transactions News briefs from 10/17/17

  

  Fuel-payments specialist P97 Networks and Buy It Mobility Networks, an automated clearing house-based payment and consumer-engagement provider, said they will provide ACH-based payment and related services to Phillips 66, Conoco, and 76-branded fuel stations. In 2016, P97 said it was working with Chase Pay on a payments service for Phillips …
• 17 October

  Making the Move from Vendor to Payment Partner

  

  By Caesar Kavadoy, VP of Sales Strategy, Paysafe A majority of payments companies focus solely on pricing and leave it up to the customers to figure out the rest. It’s time to make a change. Sales teams need to take a consultative, solutions-oriented sales approach to the business. If they don’t …
• 16 October

  Eye on Merchant Processing: Heartland Analytics Launches; Net Element’s Same-Day ACH Service

  

  Global Payments Inc. is making the transaction data its merchants generate easier for them to access and use. The Atlanta-based processor launched Heartland Analytics Monday. The service, available to U.S. merchants, is designed for small and mid-size businesses in the restaurant and hospitality industries. The service enables them to view …
• 16 October

  Eye on Cross-Border Payments: BBVA Launches App-Based Transfers; Glance‘s License

  

  Money transfers took a step toward app-based processing on Monday with news that BBVA is launching a service that will let persons in the United States use their smart phones to send money to recipients in Mexico. Later, the service will expand to the Caribbean and the rest of Latin …
• 16 October

  IBM Unveils a Blockchain-Based Cross-Border Payment Service

  

  International Business Machines Corp. on Monday announced a new service for financial institutions that uses blockchain technology to reduce settlement times and lower transaction costs. IBM is offering the service with Stellar.org., a Silicon Valley-based non-profit that runs the open-source Stellar blockchain network to bring low-cost financial services to low-income …
• 16 October

  AmEx Anti-Steering Case Moves to Supreme Court and other Digital Transactions News Briefs from 10/16/17

  

  The Supreme Court agreed to hear a controversial antitrust case in which American Express Co. is defending its anti-steering rules for merchants against challenges from 11 states led by Ohio, Reuters reported. Payments provider TransCard Payments LLC announced a partnership with ExpenseAnywhere, an accounts-payable software developer. Travel Centers of America …
• 13 October

  Eye on Banks: BofA Posts $4 Billion in Zelle Volume; Chase’s Merchant Volume Rises 13%

  Bank of America Corp. reported Friday that it handled $4 billion in Zelle person-to-person payments in the third quarter, up 67% from $2.4 billion a year ago before the Zelle brand went live this past June. Meanwhile, JPMorgan Chase and Co., the nation’s largest bank, on Thursday reported a 13% …
• 13 October

  They May Not Like the Terms, But Issuers Will Likely Re-Up for Apple Pay

  

  The first big wave of Apple Pay contracts are expiring this month, and a big question for both Apple Inc. and the financial institutions that committed to support the computing giant’s mobile-payments app is whether to renew, and under what terms, in the face of less-than-spectacular results for mobile payments …