Tuesday , March 31, 2020

PayPal Funds Firearms Payments Research and other Digital Transactions News briefs from 2/12/20

  • PayPal Holdings Inc. said it and the Center on Crime and Community Resilience at Northeastern University, along with the University of Chicago Crime Lab, formed a research project to examine payment methods used to finance illegally-sourced firearms with the goal of combatting the illegal sale of guns.
  • Processor Fiserv Inc. announced its “Scan to Pay” feature for full-service restaurants using its Clover point-of-sale platform. The feature enables diners with an iPhone to use the smart phone’s camera to scan a Clover-generated QR code at the bottom of their receipt and pay the bill with Apple Pay.
  • A survey from Financial Innovation Now found that 66% of U.S. consumers use payment apps or have used them in the past. Financial Innovation Now is an association of technology organizations such as Apple Inc. Stripe, Square Inc., and Google.
  • Installment-payments provider ChargeAfter Inc. said Visa Inc. invested an undisclosed amount in the company. The move also involves Visa making ChargeAfter’s platform available to its network of sellers, acquirers, and issuing banks.
  • Wire-transfer provider MoneyGram International Inc. launched MoneyGram FastSend, which enables consumers to send money to another person’s mobile-phone number via the MoneyGram Web site and mobile app. The new service uses Visa Inc.’s Visa Direct push-payment system to transfer funds to the recipient’s bank account after a debit card is registered.
  • E-commerce services and payments provider Shopify Inc. said its fourth-quarter gross payments volume hit $8.9 billion versus $5.8 billion a year earlier, an increase of 71%.
  • Wire-transfer leader The Western Union Co. said fourth-quarter consumer-to-consumer revenues from its Westernunion.com online service increased 17% year-over-year on a constant-currency basis, but total C2C transactions, at 73.8 million, declined 1%.
  • NCR Corp. reported that fourth-quarter ATM hardware revenue fell 3% year-over-year on a constant-currency basis to $347 million. Revenues in NCR’s hospitality segment, however, grew 5% to $232 million driven by higher sales for cloud services, and more payments and point-of-sale revenue.
  • InComm launched Go Studio, which it calls an innovation hub to develop technologies for customer-centric products.
  • Kofax Inc., a vendor of automation tools for accounts-payable processes, said its AP Agility product is now available as a cloud-based offering.
  • PaySpan Inc., a provider of automated payment and reimbursement functions for health plans and providers, appointed Adil Karam vice president of information security and compliance. Karam comes to the company with 15 years of experience in large and small firms, including Starwood Hotels & Resorts Worldwide.

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