Wednesday , December 13, 2017

Chenault’s Parting Shot at Competitors and other Digital Transactions News briefs from 12/6/17

  • American Express Co. chairman and CEO Kenneth I. Chenault said at an investor conference Tuesday that banks’ sale of their stakes in Mastercard and Visa through initial public offerings “was one of the biggest strategic blunders of the last 20 years,” according to Bloomberg. Chenault, who will retire in February, said banks will have a harder time fighting off new payments competitors because they no longer control the card networks they developed.
  • EMV testing services provider ICC Solutions Ltd. said American Express qualified its test suite for AmEx’s contactless Pre-Tap payment system.
  • General Motors Co. announced Marketplace, an in-car service that enables users to order food, find gas stations, and make dining reservations. Accessed via a vehicle’s infotainment system, Marketplace uses embedded cellular connectivity. Among the first brands are GM, TGI Fridays, ExxonMobil, IHOP, Starbucks, and Dunkin’ Donuts.
  • POS equipment maker Equinox Payments announced that its Luxe and L5000 terminal products received UnionPay International certification for contact and contactless transactions made with UnionPay credit and debit cards in the United States. Equinox said it is the first U.S. POS terminal provider to support these transactions.
  • Discover Financial Services said consumers can use their Discover cards with Apple Pay Cash, Apple Inc.’s new person-to-person payments service.
  • Subscription-payments specialist Vindicia announced that its CashBox billing platform for digital goods now supports Apple Pay.
  • Marqeta Inc. said Progressive Leasing, the virtual lease-to-own arm of retailer Aaron’s Inc., will use Marqeta’s payment card issuing platform to issue virtual cards at the point of sale.
  • Retail and hospitality point-of-sale software developer National Computer Corp. announced it has integrated Vantiv Inc.’s triPOS Cloud payments services.
  • POS system maker Touch Dynamic introduced the Pulse Ultra All-in-One device.

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