News

July, 2016

• 28 July

  New Federal Trade-Secret Law Could Prove To Be a Double-Edged Sword for ISOs

  

  Every business, including merchant processors and independent sales organizations, wants to protect its trade secrets, and a new federal law gives them stronger tools to do that than available before. But the law also could expose ISOs to damages should they unwittingly hire sales representatives who use somebody else’s stolen …
• 27 July

  Apple’s Boss Sums up Apple Pay: ‘Astronomical’ Growth, But on a ‘Very Small’ Base

  

  Apple Inc. is notoriously tightlipped about how its Apple Pay mobile-payments service is doing, and the occasion of the computing giant’s quarterly earnings call late Tuesday was no exception. Still, while Apple chief executive Tim Cook said little to satisfy widespread curiosity about the wallet’s adoption and usage among consumers, …
• 27 July

  Eye on Earnings: Ingenico North America up 11%; Sales Up, Profits Down at TSYS

  

  The U.S. migration to the EMV chip card standard continues to pay off for point-of-sale terminal maker Ingenico Group as the company reported a 14% increase in its North America revenue for the first six months of 2016. France-based Ingenico, in its earnings results released Tuesday, said it recorded 148 …
• 27 July

  Apriva Completes First Data EMV Certification and other Digital Transactions News briefs

  • Venmo, the peer-to-peer payment service from PayPal Holdings Inc., said all Venmo users now can use the service to make in-app purchases at participating merchants. Announced earlier this year, the in-app payment is available with 11 merchants. • Wireless transaction gateway Apriva said it has completed EMV certification for …
• 26 July

  FIS Reports 43.5% Revenue Increase and other Digital Transactions News briefs

  • Q2 Holdings Inc., a vendor of virtual-banking solutions to regional and community financial institutions, announced its plan to begin supporting the origination of same-day automated clearing house transactions on Sept. 23, the day the first phase of a three-phase introduction of same-day ACH is set to begin, as determined …
• 26 July

  WePay Takes its Payments-as-a-Service Tech to the U.K.

  

  Payments-service provider WePay Inc. has expanded into the United Kingdom, a move that could make it easier for its clients to offer services internationally, WePay announced Tuesday. WePay’s client list includes organizations such as GoFundMe, Meetup, Care.com, Fresh Books, and Constant Contact. Organizations like these rely on crowdfunding payments. WePay …
• 26 July

  With Checkbook, a Payments Veteran Creates a Souped-Up Engine for Check 21 Clearing

  

  The United States remains one of the world’s last bastions of the paper check, a situation a startup called Checkbook Inc. sees as a massive opportunity. The Sunnyvale, Calif.-based company has been working for the last two years on a system that it says allows businesses and individuals to use …
• 25 July

  Visa’s Scharf Feels No Love for the ACH, But Is His Sentiment Based on the Facts?

  

  Visa Inc.’s disdain for the automated clearing house as a competing payments network has been a given for years, but never did it come into focus more than it did last week when the giant card network announced its wide-ranging agreement with PayPal Holdings Inc. The deal smoothed over a …
• 25 July

  Meta Financial Doubles Financial Metric and other Digital Transactions News briefs

  • Processor Vantiv Inc. launched the One Network Experience service for software developers. Dubbed O.N.E., the service offers a suite of integration tools, personalized help, and access to an online developer community. • Meta Financial Group Inc. said Meta Payment Systems, a division of MetaBank, a major prepaid card issuer, …
• 22 July

  Making up for Lost Time, the U.S. Rockets to No. 1 Chip Card Market for Visa

  

  The United States may have been late to the EMV party, but U.S. credit and debit card issuers pushing out EMV chip cards have helped make the country the number-one market for EMV plastic, according to the latest figures from Visa Inc. As of June 30, Visa chip cards totaled …