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Congressman Speaks Up on Durbin Amendment and other Digital Transactions News briefs
May 19, 2017

• U.S. Rep. Ted Budd, R-N.C., a former retailer, delivered a speech in the House of Representatives in favor of repealing the Durbin Amendment, drawing praise from the Electronic Payments Coalition, a lobbying group for banks and card networks. The House is considering H.R. 10, the Financial Choice Act, which would overhaul the 2010 Dodd-Frank Act. Section 735 of the act would scuttle the Durbin Amendment, which is part of Dodd-Frank.

• Fueling specialist Gilbarco Veeder-Root said its Passport point-of-sale EMV system processed an estimated 350 million EMV transactions through March. It says approximately 8,000 locations have upgraded to its EMV software, accounting for more than $2.5 billion in transactions.

• A so-called social marketplace called Weedable has launched to provide an online outlet for dispensaries and other sellers of cannabis-related products. The marketplace features a payment gateway that is, according to Weedable, "the first platform of its kind allowing credit and debit card payments for cannabis advertising."

• Weebly, a company whose platform allows entrepreneurs to start an online business, said it will integrate the Android Pay mobile-payments service into the mobile-checkout flow of its online stores.

• Hardware and software vendor Rambus Inc. will provide secure key provisioning and security services for connected devices in collaboration with Cybertrust Japan Co., a provider of public-key infrastructure solutions.

• Ripple Labs, which claims to be the only blockchain-payments provider with commercial deployments, listed its XRP digital currency on several more digital-asset exchanges.

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