Thursday , June 21, 2018

Transaction Processing

GCF Buys Paper Systems and other Digital Transactions News briefs from 2/7/18

Point-of-sale products seller General Credit Forms Inc. said it purchased Paper Systems Inc., a manufacturer of paper rolls for POS and ATM systems. Paper Systems will continue to operate as PSI. Terms were not disclosed. Euronet Worldwide Inc., which is based in the United States but operates ATM and other …

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Shift4 Payments Makes Three Acquisitions in Hospitality POS

Shift4 Payments LLC, owner of the Harbortouch point-of-sale service, announced Tuesday it purchased three POS brands specializing in hospitality payments. Restaurant Manager, POSitouch, and Future POS are now part of Shift4 Payments. Terms were not disclosed. The acquisitions add 90,000 merchants to Shift4 Payments’ portfolio, and include customers such as …

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Womply Launches CRM Service for SMBs and other Digital Transactions News briefs from 2/6/18

Data-services provider Womply announced Womply Engage, a customer relationship management service for small businesses that enables merchants to create and manage email marketing programs. In an effort to address data breaches in the financial-services industry, the Accredited Standards Committee X9 Inc. said it is seeking experts for an initiative to create …

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Canada’s Interac Association and Acxsys Corp. Combine Into One Entity

In an effort to streamline operations, Interac Association, Canada’s nationwide debit network, and its corporate cousin Acxsys Corp. have reorganized into a single entity known as Interac Corp., the company announced Monday. “This is an important milestone for Interac and a critical step in our continued success as one of …

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PayPal Takes a Beating As the Spotlight Shifts to eBay’s Payments Plans With Adyen

When news broke last week that eBay Inc. will begin moving away from its tight embrace of PayPal Holdings Inc. for payment processing, investors immediately punished PayPal’s stock, interpreting the move as a big blow to the company’s business. But the frenzy of PayPal shorting may have overlooked one thing: …

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Accel’s Signature-Debit Service Counts Walmart as a Customer

The electronic funds transfer networks continue to diversify their services as competition for merchant and issuer business in debit payments intensifies. The latest example comes from processor Fiserv Inc.’s Accel network, which says Walmart Inc. is using its service for signature-based debit card transactions. Walmart typically prompts customers paying with …

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Sterling Makes POS Software Integration and other Digital Transactions News briefs from 2/5/18

Consumers may be ready to pull back from using credit cards if a survey from Auriemma Consulting Group is correct. Only 14% plan to increase their borrowing on credit cards in 2018, compared with 28% who said so in 2017. “Increased spending around the holiday season is normally predictive of greater …

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Two Sides of the Same Coin? Surcharging And Cash Discounts Puzzle Some in Acquiring

Curiosity, and a bit of confusion, about what constitutes credit card surcharging and cash-discount programs surfaced this week at the Northeast Acquirers Association annual conference in Uncasville, Conn. During a panel discussion about the benefits and challenges of credit card surcharging and cash-discount programs for merchants, participants explained how their …

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Visa Makes Super Bowl POS Upgrades and other Digital Transactions News briefs from 2/2/18

In advance of the Super Bowl on Sunday in Minneapolis, Visa Inc. said it has installed 700 upgraded point-of-sale terminals at U.S. Bank Stadium and additional POS devices at certain merchant locations in the city. The new devices are capable of handling contactless EMV transactions. An estimated 1 million people …

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With Uncle Sam’s Tax Cut in Place, Visa Expects a $1 Billion Windfall

North America’s largest payments company on Thursday said it expects to receive a $1 billion bonus from the federal tax-reform bill passed into law in December. In contrast with its rival Mastercard Inc., which reported earlier in the day it recorded an $873 million charge in the fourth quarter related …

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