Tuesday , March 19, 2019

Prepaid Cards

Direct Deposits Fuel Green Dot’s Payment Volume and Revenue Growth

Green Dot Corp.’s diversification from a pure prepaid card management company into banking and other financial-services niches is driving direct deposits into its card accounts and spurring revenue-generating payment volume, according to the company’s latest financial report. Pasadena, Calif.-based Green Dot said Wednesday that fourth-quarter purchase volume on its cards …

Read More »

Supermarket Kingpin Kroger Debuts Kroger Pay And a Rewards Debit Card

Cincinnati-based grocery giant The Kroger Co. has launched a proprietary mobile-payments service, Kroger Pay, and an accompanying Kroger Rewards debit card. Kroger Pay, available for iOS and Android mobile devices, is a quick-response code-based mobile-payment service, which also includes digital coupons and personalized offers. Kroger Pay, like some other retailer-backed mobile-payments services, …

Read More »

Shopify Payment Volume Up 65% and other Digital Transactions News briefs from 2/12/19

E-commerce and payment-services provider Shopify Inc. said fourth-quarter gross payment volume hit $5.8 billion, up approximately 65% from $2.3 billion a year earlier. The net loss narrowed to $1.5 million versus $3 million in 2017’s fourth quarter. Merchant acquirer Elavon in partnership with American Express Co. unveiled a service intended …

Read More »

Repay And Payment Data Systems Separately Put Push Payments in the Spotlight

The concept of push payments is finding favor among payments providers as two companies separately announce new disbursement services. Atlanta-based Repay said its Instant Funding service enables organizations to send funds directly to eligible Visa Inc. debit and prepaid cards via Visa Direct, the network’s real-time debit service. Repay’s lending clients, …

Read More »

Elavon Plans To Hire 500 More Employees and other Digital Transactions News briefs from 2/1/19

Elavon, the Atlanta-based merchant-acquiring subsidiary of U.S. Bancorp, says it plans to hire approximately 500 employees globally over the next three years. Elavon currently employs more than 730 people in Atlanta and more than 4,500 worldwide. BlockChyp Inc., a payment software and gateway provider, said it completed Level 3 certification …

Read More »

TSYS Sets ‘Aggressive Goals’ for Vital But Predicts ‘Headwinds’ From the CFPB’s Prepaid Rule

Top executives at Total System Services Inc. on Tuesday predicted big results from the Columbus, Ga.-based processor’s new Vital line of point-of-sale payment devices but also warned the onset of a massive federal regulation this spring will crimp prepaid card revenues in 2019. They also assured analysts on a conference …

Read More »

Only 14% Use Mobile Payments and other Digital Transactions News briefs from 1/29/19

Just 14% of U.S. smart-phone users are using mobile-payments services from smart-phone makers, such as Apple Pay from Apple Inc., according to a survey from Juniper Research, which says “the window of opportunity in the U.S. for mobile-payment providers like Apple Pay and Google Pay is closing fast.” The survey …

Read More »

Discover Reports 4Q Results and other Digital Transactions News briefs from 1/25/19

Discover Financial Services said its payments services operation, which includes network partners, Diners Club International, and the Pulse electronic-funds transfer network, processed $60.5 billion in total volume in the fourth quarter, a 12% increase year-over-year. Volume on Pulse jumped 11% to $47.1 billion owing to new issuers as well as …

Read More »

Fiserv Stuns the Industry With a Massive All-Stock Acquisition of First Data

In a stunning announcement that surprised many observers, Fiserv Inc. said Wednesday morning it has struck a deal to acquire First Data Corp. with what the parties say will be the biggest ever such transaction in the payments and financial-technology businesses. The all-stock deal, expected to close in the third …

Read More »

Mitek Notes More Suitors and other Digital Transactions News briefs from 1/4/19

Remote deposit capture software provider Mitek Systems Inc. said in a regulatory filing “that it has received expressions of interest from multiple parties” and thus is considering various “strategic alternatives” to maximize shareholder value. The only suitor the filing identified is ASG Technologies Group Inc., a portfolio company of the …

Read More »