Tuesday , November 13, 2018

Pricing

Predicted Contactless-Card Boom Remains Just That for Card Manufacturer CPI Card Group

Despite predictions of an upsurge in contactless payment cards, so-called tap-and-go cards have yet to generate much revenue for a major U.S.-based card manufacturer, CPI Card Group Inc. Such cards are often called dual-interface cards because they support both contact EMV chip card transactions at point-of-sale terminals as well as …

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October’s Market Tumult Ensnares Most Processor Stocks

The stock-market volatility in October, which saw the Standard & Poor’s 500 stock index decrease 7.8% by the end of the month, spared few of the publicly held payment processors tracked by Barrington Research, a Chicago-based investment firm. In its monthly report, Barrington Research says only Puerto Rico-based Evertec Inc., …

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Cardtronics Lands RaceTrac ATM Placement and other Digital Transactions News briefs from 11/5/18

Cardtronics plc said it is the exclusive ATM provider to 121 RaceTrac convenience stores in the Dallas-Fort Worth area. The ATMs bear the Credit Union of Texas brand. Worldpay Inc. announced a multiyear agreement to be the exclusive provider to the National Association of Convenience Stores Payment Processing Program, which …

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As the Fed Mulls an Entry Into Real-Time Payments, a TCH Executive Flashes a Caution Flag

If the Federal Reserve decides to compete in the developing market for real-time payments, it will face considerable obstacles, one of which has to do with whether such competition is really needed, according to an official with The Clearing House Payments Co. LLC. The Clearing House, which is recruiting financial …

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CardinalCommerce Notes 3-D Secure 2.1 Milestone and other Digital Transactions News briefs from 10/19/18

E-commerce payments provider CardinalCommerce said it completed its first series of 3-D Secure 2.1 transactions with American Express Co., Mastercard Inc., and Visa Inc. The transactions, which were not part of a test, were part of an early-adopter program in which merchants and issuers enabled EMV 3-D Secure 2.1 via CardinalCommerce, …

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AmEx’s Discount Revenues and Profits Rise on Healthy Cardholder Spending

Strong cardholder spending generated higher discount revenue and contributed to a 22% profit increase at American Express Co. in the third quarter. AmEx late Thursday reported that U.S. card-billed business rose 10% to $194.6 billion from $176.4 billion a year earlier. International volume rose 5% to $100.1 billion, bringing AmEx’s …

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PayPal Scores an AmEx Tie-Up And Notches a Strong Quarter, Though Challenges Loom

In a reversal of its past practice, PayPal Holdings Inc. began two years ago working with competitive and semi-competitive partners, and on Thursday it added the last major U.S. card network to that list by announcing a tie-up with American Express Co. PayPal executives also disclosed the company’s performance numbers …

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Visa Token Service Adds 20 Requestors And Keeps the Service Free

Visa Inc. is banking big on its Visa Token Service with the addition of 20 acquirer, gateway, and technology companies signing up to offer the network token. The card brand Wednesday announced the additions, called requestors because they request tokens for the credit and debit cards processed through their systems. …

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Eye on P2P: Venmo Jacks up Its Fee for Instant Transfers; BofA Touts Zelle Results

In the hotly contested market for person-to-person transactions, PayPal Holdings Inc.’s Venmo unit has rarely made a misstep. But over the weekend the popular service said it will raise its fee from 25 cents to 1% for so-called instant transfers users make to move money from their Venmo account to …

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Eye on Transactions: Strong Consumer Spending Lifts Payment Cards at Chase, Citi, and Wells

With the economy still humming along, three of the nation’s biggest banks on Friday reported healthy increases in third-quarter payment card purchase volumes. JPMorgan Chase & Co., owner of the nation’s biggest bank-run merchant acquirer, posted $343.8 billion in merchant-processing volume, a 14% increase from $301.6 billion in 2017’s third …

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