Saturday , January 19, 2019

Pricing

As More Interest in Surcharging Emerges, So Too Comes Some Clarity on the Rules

Is it a cash discount or a surcharge? Some merchant sales agents may now have a little more insight into the answer to that question. Some payments industry observers see no distinction between whether a fee is added or removed from a product’s final price to cover the cost of …

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AmEx Logs a $2 Billion Fourth-Quarter Profit As Card Volume And Discount Revenue Rise

American Express Co. on Thursday reported a $2 billion profit for the fourth quarter of 2018, representing a significant turnaround from a $1.2 billion loss in the final quarter of 2017. Last year, the New York City-based card giant took a $2.6 billion charge in the fourth quarter that was …

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Fit Pay’s Bitcoin-Connected Flip Device for POS Transactions Starts Shipping Next Month

Fit Pay Inc. announced on Friday it will begin shipping its Bitcoin-based contactless device, Flip, on Feb. 13. The coin-shaped token sells to consumers for $29 and allows them to convert their Bitcoin holdings to U.S. dollars and then spend the money at stores equipped with contactless point-of-sale terminals. The …

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TSYS Revives Its Vital Brand as the Name for Its New POS Product Suite

Payment processor Total System Services Inc. (TSYS) on Thursday unveiled a line of point-of-sale terminals and services for small and mid-size businesses, and took its Vital brand out of a 13-year retirement as the name for the new product suite. The cloud-based Vital POS has three major components: Vital Mobile, an …

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COMMENTARY: Why Cryptocurrencies Are a Solution in Search of a Problem

When you look at the benefits that cryptocurrencies offer, it’s somewhat surprising that they aren’t an established method of payment yet. They are cheaper than other payment methods, they allow fast global money transfer, and they provide built-in security and encryption. However, cryptocurrencies haven’t really taken off and are more …

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New York Credit Card Surcharges Get a Green Light as Merchants and the State Agree To Dismiss Lawsuit

Merchant plaintiffs and the state of New York filed motions Tuesday in a federal appellate court to dismiss the merchants’ challenge to New York’s law banning credit card surcharges. As a result, surcharges will be allowed when the merchant posts total prices for credit card purchases in dollars and cents. …

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A Look Back at 2018’s 10 Most Popular Digital Transactions Posts

Fraud, acquisitions, and interchange dominated the top 10 list of news articles posted to DigitalTransactions.net in 2018. Starting with a $6.2 billion pact between Visa Inc. and Mastercard Inc., on one hand, and defendant banks, on the other, stemming from 13-year-old litigation over credit card interchange, to American Express Co.’s …

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Net Element Adds Cash Flow From Portfolio Acquisitions and other Digital Transactions News briefs from 12/27/18

A subsidiary of Visa Inc. is offering to buy Earthport PLC, a London-based provider of cross-border payments for banks and businesses, for approximately $250 million in cash. The offer represents a 250% premium to Earthport’s six-month average share price ended Dec. 24 and has the endorsement of Earthport’s board of …

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COMMENTARY: For Merchants, Much Has Been Accomplished, Much Is Yet To Be Done

Merchants have come a long way since the inception of the Merchant Advisory Group, but far more needs to be done to restore some semblance of balance in payments. Upon reflection, it is remarkable that traditional merchants had no formal means to get together to discuss payments until the MAG …

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Fast-Growing Merchant Acceptance Could Entice More Acquirers to Look Abroad

A number of U.S. payments providers have expanded overseas in recent years, and now more may have an incentive to do so if recent research showing robust growth in merchant acceptance is any indication. The number of physical stores or outlets accepting payment cards worldwide reached 69.2 million last year, …

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