Digital Transactions Authoritative, insightful and timely information for payments professionals
Target Corp. on Tuesday issued an update on its data-breach expenses for the second quarter that brings total costs to $236 million, including expenses in the first quarter and late 2013. The Minneapolis-based retailer expects gross breach-related expenses in the second quarter to be $148 million, offset by $38 million …
August, 2014
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4 August
Continuing a Consolidation Trend, Four Southern ACH Associations Will Merge Jan. 1
Four regional automated clearing house associations in the South will merge Jan. 1 under the name of PaymentsFirst Inc. The merger may be the biggest one yet among regional ACH associations in terms of participants and furthers the long-standing trend of smaller, mostly state-based ACH organizations pooling their resources as …
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4 August
Merchant Warehouse Strikes Deal to Integrate PayPal into Its Genius Point-of-sale Platform
Merchant acquirer and payment-technology developer Merchant Warehouse is adding PayPal acceptance to its Genius point-of-sale platform, the Boston-based company announced Monday. Merchant Warehouse’s Genius system enables merchants to accept payments and to manage services like loyalty, mobile commerce, gift, and rewards programs. PayPal is activated remotely, requiring no action by merchants. …
July, 2014
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31 July
MasterPass Now in 10 Markets Globally, Four More to Come, MasterCard CEO Tells Analysts
Top executives at MasterCard Inc. on Thursday trumpeted the card network’s gains with MasterPass, its digital wallet, and downplayed the impact of JPMorgan Chase & Co.’s ongoing conversion to Visa Inc. Introduced two years ago, MasterPass is now operating in 10 countries with “tens of thousands” of merchants and will …
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31 July
The Big-Ticket Mercury Acquisition Already Starts to Pay Dividends for Processor Vantiv
Vantiv Inc.’s $1.65 billion acquisition in May of Mercury Payment Systems LLC appears to be paying off already. In the second quarter, Cincinnati-based Vantiv said Mercury accounted for approximately 5% of the payment processor’s net revenue growth. Vantiv’s second-quarter revenue increased 11.6% to $331.3 million from $296.9 million a …
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30 July
Having Built Its Own Processing Platform, TransFirst Prepares for a Partial IPO
The big merchant acquirer TransFirst Inc. gave notice Wednesday that it is planning a partial initial public offering. Hauppauge, N.Y.-based TransFirst filed a registration statement, or S-1, with the Securities and Exchange Commission announcing its IPO plans and putting a tentative value of $100 million on the deal. The filing says …
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30 July
Big Man on Campus: Heartland Pays $375 Million for Higher-Education Payments Company TouchNet
Heartland Payment Systems Inc. is paying $375 million to expand its position as a higher education payments provider. The Princeton, N.J.-based processor announced today it bought Lenexa, Kansas-based TouchNet Information Systems Inc. Heartland says this is its highest-priced acquisition to date. TouchNet provides a variety of payment services to …
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30 July
Square Announces a Signature-Based Chip Card Reader, with Availability Early in 2015
Square Inc. on Wednesday ended months of speculation with an announcement that it will begin offering an EMV card reader early next year. Square will start taking orders for the device, which will process chip-and-signature as well as mag-stripe transactions, later this year, the San Francisco-based company said. The move comes …
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30 July
First Data Reports Improved Financials And Plans To Buy Digital Gift-Card Provider Gyft
In a busy day for First Data Corp., the leading payment processor on Wednesday reported a reduced quarterly loss and its best revenues since going private, and that it plans to buy digital gift-card services provider Gyft Inc. Thanks to recent tech-company acquisitions and moves to improve its debt-laden balance …
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29 July
With Optimal Routing in Place, Zooz Readies a Routing Engine for Omnichannel Merchants
Zooz Mobile Ltd. is preparing to launch in September a transaction-routing engine that will let so-called omnichannel merchants run payments for e-commerce, mobile commerce, and in-store commerce through a single pipe. The engine, tentatively called the Omnichannel Generator, will seek out the optimal path for each transaction, allowing merchants to …