Tuesday , September 18, 2018

Smart Cards

Debit Card Users Take a Liking to Apple Pay And Other Wallets, Pulse’s Annual Survey Finds

More mobile and contactless opportunities may be in the future for debit card issuers. The 2018 Debit Issuer Study from Houston-based Pulse Network, released this week, found 12.2% of debit cards were enrolled in Apple Inc.’s Apple Pay as of January, up from 6.3% in January 2017. Debit card enrollment …

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Face-to-Face Debit Fraud Fell 5.5% Last Year As EMV Took Hold, the Latest Pulse Survey Shows

Good news for debit card issuers emerged Thursday as a major report indicated fraud losses fell in 2017 compared to 2016. Losses on point-of-sale transactions totaled an estimated $850 million, down 5.5% from the 2016 total, according to the 2018 Debit Issuer Study from the Houston-based Pulse Network, a unit …

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In a Heated Merchant Market, PayPal Rolls Out Funding ‘Within Seconds’ for Select Merchants

The topic of faster payments has won plenty of publicity in recent years, but less celebrated is the mundane business of crediting merchant accounts. That’s getting faster, too, and the latest development is a service called Funds Now, which PayPal Holdings Inc. announced Tuesday. With this service, online merchants in …

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U.S. EMV Merchant Locations Grew by 400,000 in 2018’s First Half, Visa Data Show

Approximately 400,000 U.S. merchant locations began accepting EMV chip cards in 2018’s first six months, according to new data from Visa Inc. In its latest report on the U.S. conversion from magnetic-stripe payment cards to the EMV standard, Visa on Wednesday said 3.1 million merchant locations accepted the new cards …

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3.1 Million Merchants Accept Chip Cards and other Digital Transactions News briefs from 8/29/18

In its latest update about the U.S. conversion from magnetic-stripe to EMV chip cards, Visa Inc. said more than 3.1 million merchant locations accepted chip cards as of June versus only 392,000 in September 2015. The number of Visa chip cards increased 214% in that time to 499.7 million. Some …

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Worldnet TPS Launches EMV Service and other Digital Transactions News briefs from 8/27/18

Worldnet TPS Ltd. launched GoChipNow, a service for virtual-terminal merchants to convert to EMV chip card acceptance. VSoft Corp., which specializes in information-technology products for financial institutions, said it will integrate a payment service from Payrailz into its digital banking platform. Total investment in startups specializing in artificial intelligence, an …

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Warehouse Retailer Costco Is Now Accepting ‘The Pays’

Notoriously picky about which payment forms it accepts, Costco Wholesale Corp. is now accepting Apple Pay, Google Pay, and Samsung Pay in its U.S. stores. With 519 locations, Issaquah, Wash.-based Costco is the nation’s third-largest brick-and-mortar retailer, according to the National Retail Federation. In its warehouse-like stores, it accepts debit …

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Linked2Pay Debuts Instant Merchant Settlement and other Digital Transactions News briefs

Payment-processing technology company Pineapple Payments has acquired payment-gateway provider Transax for undisclosed terms. The deal represents the fifth acquisition this year for Pineapple, which says it is processing $3 billion in annual volume for more than 13,000 merchants. Payments-technology provider linked2pay introduced what it calls instant merchant settlements for credit …

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Francisco Partners Closes on Its $3.4 Billion Verifone Deal

As of Monday, point-of-sale terminal maker Verifone Systems Inc. once again is a privately-held company. Announced in April, the $3.4 billion deal also sees Michael Pulli, former chief executive of Pace plc, step into the same role at San Jose, Calif.-based Verifone, replacing Paul Galant, who became CEO in 2013. Galant …

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CPI Card Group’s Results Improve Amid Double-Digit Prepaid Card Revenue Growth

Payment-card maker CPI Card Group said Thursday that new sales from an existing customer boosted its U.S. prepaid debit card revenue 26% in the second quarter. Littleton, Colo.-based CPI also reported that sold its United Kingdom business to private-investment firm SEA Equity for $4.5 million. With revenue of $15.4 million …

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