Digital Transactions Authoritative, insightful and timely information for payments professionals
As it has for other suppliers to the payment card industry, the conversion of U.S. card payments from security-challenged magnetic-stripe cards to the EMV chip card standard is providing a windfall for leading U.S.-based card manufacturer CPI Card Group Inc. In its first earnings report as a publicly traded company, …
Read More »Data About First Data Show Transaction Growth but Profitability Issues Remain
A filing Tuesday by First Data Corp. in the wake of its recent initial public offering of stock paints a picture of a payment processor growing in many areas but still carrying a heavy debt load and challenged on profitability. The filing, Atlanta-based First Data’s quarterly report to the Securities …
Read More »Square Looks To Raise Up to $333 Million as IPO Gets Closer
Square Inc. on Friday set a price range for its planned initial public offering of stock in which the high end could generate about $333 million for the merchant processor. Square filed an amended registration statement with the Securities and Exchange Commission stating that it plans to sell 25.65 million …
Read More »Many Financial Institutions Still Testing the Waters With Mobile Remote Deposit Capture
Technology enabling consumers to deposit checks by snapping pictures of them on their smart phones and uploading the images through their mobile-banking apps has been around for more than five years, but mobile remote deposit capture very much remains a new product for many banks. An April-May survey by Alpharetta, …
Read More »The Bank Card Networks Dole Out Billions in Incentives To Build Traffic
Visa Inc. and MasterCard Inc. are shelling out ever more dollars to buy issuer loyalty and induce merchants to route transactions onto their networks. A Digital Transactions News analysis shows the two leading payment card networks are on track to spend approximately $6.75 billon on so-called rebates and incentives in …
Read More »For Visa, Electronic Payments Produce a River of Cash
Visa Inc. may be in the business of credit and debit cards, mobile wallets, tokenization, EMV chips and virtually anything involving electronic payments, but its latest financials tell the real story—it’s all about cash. On a day dominated by news of its pending $23 billion takeover of Visa Europe, Visa …
Read More »Panelists Fret About the Effects of Dodd-Frank on Financial Innovation
The controversial Dodd-Frank Act scored just 20% in an impromptu popularity poll Sunday afternoon, with its only support coming from someone in the federal government. The quick straw poll was hardly representative as the mere five respondents were panelists at a conference for payments executives, but the results do reflect …
Read More »House Panel Hears How EMV Rings Up a Big Tab for Some Small Businesses
Implementing EMV chip card payments can be anything but a cheap and easy plug-and-play for small businesses, according to testimony several merchants gave before a U.S. House of Representatives committee Wednesday. Art Potash, chief executive of Potash Markets, a 65-year-old family-run Chicago grocery operation with three stores, told the House …
Read More »The Prepaid RushCard Declares a 4-Month Fee Holiday After Processing Glitch
UniRush LLC’s RushCard declared a four-month fee holiday over the weekend after a glitch during the prepaid card’s switch to a new processor that began Oct. 11 limited access to an undisclosed but apparently large number of customers’ accounts. Cincinnati-based UniRush did not identify the processor. The glitch apparently started …
Read More »Diebold in Talks To By German ATM Maker Wincor Nixdorf for $1.8 Billion
Diebold Inc., the second-largest U.S.-based ATM manufacturer after NCR Corp., disclosed over the weekend that it is in discussions to buy Paderborn, Germany-based ATM maker Wincor Nixdorf AG. North Canton, Ohio-based Diebold issued a statement Saturday confirming that it has a non-binding agreement with Wincor Nixdorf “regarding the key parameters of …
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