Digital Transactions Authoritative, insightful and timely information for payments professionals
Mobile payment provider LoopPay Inc. launched the LoopPay Card and CardCase, accessories meant to make it easier to use the mobile-payment service. After downloading the free Loop Wallet from the iTunes or Google Play stores, the user connects a Loop device to the phone. The user creates an account …
November, 2014
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4 November
First Data’s Clover Adds Mobile Functionality to Hit the Aisles
First Data Corp.’s Clover point-of-sale system now is available in a mobile version that enables merchants to roam their store aisles with the device. Dubbed Clover Mobile, the service can be paired with the stationary Clover Station or used as a standalone service, First Data says. Like Clover Station, Clover …
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3 November
MoneyGram Debuts New Platform With Alternative Financial Services In Mind
Money-transfer provider MoneyGram International Inc. has launched MGiAlloy, a technology platform to enable greater use of alternative financial services. MGiAlloy, which can be used on kiosks, online, on mobile device or at points-of-sale, enables consumers to transfer money, pay bills, cash checks, reload prepaid cards and other services. Dallas-based MoneyGram …
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3 November
CPI, Sequent Pair Up on NFC Provisioning Service for Banks
CPI Card Group is working with digital issuance and wallet platform provider Sequent Software Inc. on CPIMobile, a service to deliver secure digital credentials to near-field communication (NFC)-compatible smart phones. CPI announced Monday. NFC is a two-way protocol that enables mobile devices to share data in a secure environment. CPIMobile …
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3 November
Online Lending Platforms Ramp up to Fill Small-Merchant Void Left by Banks
With financial institutions lending less to small businesses, new, technology-based companies are moving into merchant lending to fill the void. This is a market typically served by so-called merchant cash-advance firms, companies that lend money in the form of advances against a merchant’s expected credit card volume. In many cases, …
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2 November
FBI and DoJ Officials Offer Advice on How Digital-Currency Firms Can Stay Out of Legal Trouble
Payments entrepreneurs and veterans alike view Bitcoin and other so-called cryptocurrencies as the new land of opportunity, but with the territory comes a considerable amount of legal risk. Federal authorities busted the Liberty Reserve and Silk Road ventures, the latter because it attempted to hide illegal activity by requiring customers …
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2 November
New York State’s Financial Boss Offers Break for Startups as New York Develops Its “Bitlicense”
In an effort to prevent money laundering, New York State’s top financial regulator made history last year when he proposed that virtual-currency providers obtain a so-called “Bitlicense” to ensure that they have proper controls in place to protect consumers’ money. Now Benjamin M. Lawsky, superintendent of the New York Department …
October, 2014
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30 October
Led by Former Google Wallet Honcho Bedier, Poynt Offers ‘Attractive’ Terminal But Faces Big Challenges
Count Poynt Co. as the newest member of the point-of-sale terminal maker industry. The Palo Alto, Calif.-based company hopes to entice merchants, developers, and resellers to its product. Osama Bedier, Poynt chief executive, formerly led Google Inc.’s Google Wallet and before that worked at PayPal Inc. The L-shaped device rests on …
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30 October
Eye on Earnings: MasterCard’s Volumes Grow; Mercury Boosts Vantiv’s Merchant Segment
Financial analysts gave MasterCard Inc. and Visa Inc. credit for leading a New York Stock Exchange rally Thursday as higher consumer spending on payment cards boosted the networks’ revenues. And processor Vantiv Inc. reported a 42% increase in merchant-processing revenues in the wake of its June acquisition of Mercury Payment …
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29 October
With Its McDonald’s Deal, Softcard Gains More Access to Everyday Spend for its NFC Wallet
While Apple Inc.’s Apple Pay mobile wallet has been grabbing the headlines, the telco-controlled Softcard mobile-payments service this week lined up another major fast-food chain. Consumers now can use their Softcard mobile wallets to pay for purchases at U.S. McDonald’s locations. Formerly known as Isis, Softcard is a smart …