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- The Federal Reserve formally announced the creation of the U.S. Faster Payments Council, an industry organization intended to promote the adoption of secure faster-payment systems through industry collaboration and education. The 22 founding members include payment card networks, banks, Walmart Inc., and automated clearing house network governing body NACHA. The group is an outgrowth of the Fed’s multi-year Payment System Improvement project.
- Discover Network said an agreement between its Diners Club International unit and PXP, a gateway provider, will expand acceptance globally for the Discover brands, including Discover, Diners Club, and Pulse.
- Cardtronics plc said Parkland Fuel Corp., a convenience-store chain in Canada, added 280 ATMs to its Cardtronics management agreement, which now includes 486 machines. The ATMs bear the TD Bank Group brand.
- Driven primarily by in-car payments, the worldwide Internet of Things market will expand at a 75% annual rate over the next five years to $410 billion, up from $24.5 billion this year, according to projections by Juniper Research.
- ACI Worldwide announced Everlink Payment Services Inc., a payments provider for financial institutions in Canada, adopted ACI’s UP Retail Payments technology for its clients.
- Affirm Inc., which extends credit to online buyers, announced a new logo and several new services, including offers tailored for individual users and a tool that shows consumers where they can use Affirm.
- ACH Alert was awarded U.S. Patent No. 10,115,106 for a number of fraud-prevention solutions. The company provides anti-fraud technology to financial institutions.
- Gateway provider Merchant Link said it received certification for Opera PMS, hotel software from Oracle.
- Blackhawk Network Holdings Inc. released its 2018 Holiday Shopping Preview: Top Gift Card Preferences Report that found 67% of Millennials are interested in giving digital gift cards.
- Beacon Software Co., which develops software for the towing and recovery industry, announced the integration of Xpress-Pay.com’s payment service.
- The Western Union Co. unveiled an agreement with Hong Kong-based HKT Payment Limited HKT, a unit of telecom provider HKT, to allow HKT Tap & Go users to use their mobile wallet to send money around the world.
- Mastercard Inc. launched City Possible, a network that connects cities with academia and businesses to identify common challenges and ways to address them. Five U.S. cities are part of the initial group of 16 in the network.
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