Friday , March 29, 2024

Search Results for: merchants

Eye on Acquiring: IP Commerce To Stop Processing; Passilla at Chase; Groupon And SumUp

  IP Commerce Inc., a 9-year-old Denver-based company that provides platforms for independent software vendors (ISVs) and other payments developers, will discontinue its front-end payment-processing service effective June 30, according to a notice on the home page of the company’s Web site. The company began notifying clients earlier this month, …

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Visa, MasterCard File Suit As Credit Card Settlement Spawns More Litigation

  World War I was supposed to be the war that ended all wars. It didn’t, of course. And the settlement announced last July that was supposed to end lawsuits over bank card interchange and related network rules not only is failing to end litigation between merchants and the card …

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Citing Fraud Risk, the FTC Seeks to Bar Telemarketers from Using Four Payment Methods

  If the Federal Trade Commission has its way, all telemarketers will be banned from using remotely created checks and three other payment methods in any transaction. The sweeping ban, which the FTC posted this week in a proposed rulemaking, would also prohibit telemarketers from collecting payment via remotely created …

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As a Key Deadline Nears, Credit Card Interchange Settlement Inspires a Raft of Rhetoric

  The rhetoric spewing from partisans on both sides of the massive credit card interchange-litigation settlement is heating up as a major deadline in the 8-year-old case approaches. May 28 is the last day the court overseeing the case will let merchants opt out of their share of monetary damages …

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Google Checkout, Once a PayPal Rival, Will Shut Down in Six Months As Google Pushes Wallet

  The nearly 7-year-old Google Checkout online payment service, once touted as a rival to PayPal, will cease operations in November, Google Inc. announced in a blog post on Monday. In the post, online-search kingpin Google Inc. says it is “retiring” Checkout as part of a “transition to Google Wallet,” …

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LevelUp Sweetens a Merchant’s Loyalty Program And Adds NCR As a Point-of-Sale Partner

A plan to expand its footprint in mobile payments by offering white-label applications to merchants is quickly paying dividends for LevelUp, the mobile-payments unit of Boston-based SCVNGR Inc. Washington D.C.-based Sweetgreen, a 17-location chain of organic salad shops, has become the first LevelUp merchant to roll out a branded mobile-payment …

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ISOs’ Authorization Costs Decline, But Other Processing Expenses Are on Their Way Up

  Good news for independent sales organizations: authorization costs continued their long-term decline over the past two years, according to a recent industry survey. Not-so-good news: clearing and settlement costs have stopped declining, customer-service costs are rising, and processors are eyeing new fees to generate revenues from ISOs. Omaha-based The …

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ATM Heists and Global Payments Hack Demonstrate Havoc from Processor Breaches

  Three recent breaches at payment card processors show just how much damage such breaches can do, and provide reminders about how hacked companies do their best to say as little as they can about them publicly. Federal authorities say the latest two breaches, which garnered worldwide headlines in recent …

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Google’s Decision to Ditch Its Card Adds to Search Giant’s List of Woes in Wallets

  Google Inc.’s apparent decision to abandon its plan to launch a plastic card as part of its Google Wallet service is yet another sign of how major mobile-wallet players from outside the payments business are struggling to find a winning strategy, sources tell Digital Transactions News. News of the …

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Google Wallet’s Cloudy Future Becomes Even Cloudier with the Departure of Bedier

  Osama Bedier, vice president of Google Wallet and payments at search-engine giant Google Inc., has left the company, Google said on Thursday. Sources tell Digital Transactions News that Sridhar Ramaswamy, Google’s senior vice president of ads and commerce who also manages search advertising and shopping services, is now heading up …

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