Tuesday , June 18, 2019

PayFi Adds Real-Time Payments Option and other Digital Transactions News briefs from 6/4/19

  • PayFi, which provides a banking platform, said it will offer real-time payments services from The Clearing House Payments Co. LLC to community banks.
  • Most U.S. consumers—38%—are likely to use a credit card for online subscription payments, finds a report from GoCardless, a recurring-payments company. Thirty-four percent choose a debit card, 22% a digital wallet, and 19% a bank-account debit.
  • Merchant processor Square Inc. sometimes sends digital receipts to the wrong person, The Wall Street Journal reported. Reasons for the mistakes vary, including improper inputting of email addresses or phone numbers by customers, but sometimes neither the purchaser nor the receipt recipient can say why Square sent a receipt to the person it did, the newspaper said. A Square spokesperson said the company has made a number of changes to improve receipt distribution.
  • Financial and other data on some 11.9 million patients who used the big blood-testing provider Quest Diagnostics Inc. was compromised in a data breach at a Quest vendor, Quest reported Monday. The breach targeted the Web payment page of American Medical Collection Agency, which provides collection services to Optum360, which in turn is a Quest contractor. Quest said the breach happened between Aug. 1 and March 30 and affected credit card and bank-account information, Social Security numbers, and medical information, but not laboratory test results. Which information about specific patients was compromised has not been determined yet, Quest said.
  • Payment gateway Merchant Link announced an integration with First Data Corp to enable dynamic currency conversion at U.S. hotels serviced by Merchant Link.
  • Payment Data Systems Inc. said PracticeSuite, developer of a physician-practice platform, completed the integration of the company’s “PayFac-in-a-Box” technology.
  • Installment-payment provider Splitit Payments Ltd. named Brad Peterson, a former Intuit vice president of marketing, as its managing director for North America.
  • Discover cardholders can use their cards at merchant locations that work with FOMO Pay, a Singapore-based payments provider.
  • U.S. card-issuing technology provider Marqeta said it will provide BIN sponsorship services to CashFlows, a provider of business-payments services in Europe.
  • Worldpay Inc. said it will launch its Exemption Engine for Strong Customer Authentication in September for merchants in the European Economic Area to help comply with authentication mandates for online purchases.
  • Fraud-prevention specialist Forter said it has achieved an annual run rate of $100 billion in transactions.

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