News

April, 2017

• 24 April

  The CFPB Tweaks Its Prepaid Rule as Showdown Looms Over Its Repeal

  The Consumer Financial Protection Bureau confirmed last week that it will extend the effective date of its planned rule governing prepaid accounts by six months, until Oct. 1, and indicated it would consider a further extension. The embattled bureau also said it would revisit “at least two substantive issues” in …
• 24 April

  Global Payments Renews Caesars Contract and other Digital Transactions News briefs

  • Payment technology provider ACI Worldwide Inc. said it will make its UP Immediate Payments service available to financial institutions and credit unions of all sizes. • Merchant processor Global Payments Inc. renewed its contract with Caesars Entertainment Corp. • In a Mastercard Inc. promotion, consumers who use a Mastercard credit, debit, or prepaid card at a …
• 24 April

  With Same-Day ACH Debits Coming, Experts Ask for Higher Limits, More ‘Windows’

  Firms and financial institutions that have been using the automated clearing house network’s new same-day settlement system are generally upbeat about it, but the new regime is being implemented in phases, and the next phase, due in September, brings with it some misgivings. That’s when ACH debits will start to …
• 21 April

  With Technology From Ripple, BBVA Completes a Real-Time Cross-Border Money Transfer

  

  While entities such as the Federal Reserve and the automated clearing house work out methods for faster payments, financial institutions are also investigating the blockchain for real-time money movement. That concept took a step toward reality with an announcement Friday by Spain’s BBVA that it had completed what it says …
• 21 April

  A Canadian Car-Services Operator Chooses Contactless-Only Payments

  

  Unattended tire-inflation and vacuum services for cars long have accepted credit and debit cards as well as cash. Now, one provider, Irving, Texas-based AIR-serv, is taking that a step further by making contactless payments the sole option at more than 6,500 locations throughout Canada. Payments provider MONEXGroup says it is …
• 21 April

  Santander Adds Apple Pay Support and other Digital Transactions News briefs

  • Santander Bank N.A. announced it is now supporting Apple Pay for its Mastercard credit and debit cards. • Healthy Solutions for Pets, a pet-supplement company, has hired Orderhouse to build an e-commerce store. Orderhouse’s services include technology, fulfillment, and payments. • Vantiv Inc. will provide ATM and debit and credit card processing …
• 21 April

  Tripling in One Year, Visa Chip Card Transactions Surpass 1 Billion in March

  

  The seemingly plodding U.S. migration to the EMV chip card standard may not be so plodding after all. Visa Inc., in data released Friday, says consumers made 1 billion Visa chip card transactions in March, a tripling of the 303.3 million in March 2016. The number of transactions has steadily …
• 20 April

  A New Shopify Card Reader Supports EMV And Bluetooth for Small Sellers

  

  Shopify Inc. is often thought of as a platform for smaller e-commerce merchants, but it offers processing services for some 65,000 physical-world sellers, as well, and on Thursday it unveiled a new EMV card reader that features a Bluetooth low-energy link to mobile devices and what the company says is …
• 20 April

  Digital Channels Help a Recovering American Express Add Cardholders

  

  Still smarting from the loss of its big cobranded card and acceptance relationship with Costco Wholesale Corp. last June, American Express Co. managed to beat analysts’ earnings estimates in the first quarter and said it has planted the seeds for future growth. As an example, AmEx said its efforts to …
• 20 April

  Apriva Receives EMV Certifications and other Digital Transactions News briefs

  • Mastercard Inc. said it has completed testing of a biometric-enabled payment card in South Africa. The card contains fingerprint scanning technology. Cardholders enroll their fingerprints at their financial institutions, which are then stored as a digital template on the card. The card can be used in an EMV point-of-sale terminal. Mastercard …