Monday , May 27, 2019

PayPal Debuts Rainbow Card for Venmo and other Digital Transactions News briefs from 2/22/19

  • PayPal Holdings Inc. introduced a so-called rainbow card for users of its Venmo peer-to-peer payments service. The colorful plastic, available for a limited time, is the latest version of a debit card PayPal launched last year to allow users to pay merchants with their Venmo balance. As with the original Venmo card, the rainbow card is branded by Mastercard and issued by The Bancorp Bank.
  • Entrust Datacard Corp. said it is buying the nCipher Security unit of Thales for an undisclosed price. NCipher Security produces hardware security modules that provide secure connections for payment processing. Thales created the division in January to comply with a divestiture requirement associated with its $5.7 billion purchase of smart-card maker Gemalto.
  • The Electronic Transactions Association named Amy Zirkle, currently the payments trade group’s vice president of industry affairs, as interim chief executive following the recent departure of CEO Jason Oxman after seven years. Zirkle joined the ETA in 2014. The ETA’s board of directors named a search committee to find a permanent CEO.

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