Monday , March 25, 2019

Cannabis Payment App Debuts and other Digital Transactions News briefs from 1/9/19

  • CannaTrac, a cashless-payment service for the cannabis industry, released the CannaCard App, a mobile-payment service that enables users to upload funds from a checking account, debit card, or cash at select partner locations. A 95-cent fee applies to each funds loading. The app, available for Android and iOS devices, is currently active in Colorado.
  • More than 40 state attorneys general announced a $1.5 million settlement with The Neiman Marcus Group LLC over a data breach the department-store chain disclosed five years ago, according to press reports. The breach compromised about 350,000 Neiman Marcus credit cards, at least 9,200 of which were used fraudulently.
  • American Express Co. suspended a director in its foreign-exchange department as part of an ongoing investigation into pricing practices in the division, The Wall Street Journal reported. AmEx received subpoenas from the U.S. Department of Justice in late October and also is being investigated by other federal agencies for pricing practices at its foreign exchange international payments (FXIP) unit, according to Reuters.
  • Payments-technology provider MagTek Inc. said Touch Dynamic, a point-of-sale equipment maker, integrated MagTek technology into the Quest III mobile POS tablet.
  • Mobile POS-technology provider CardFlight Inc. said processor JetPay will offer CardFlight products to its merchants.
  • Installment-payment provider Sezzle announced merchants using Salesforce Commerce Cloud can now offer Sezzle as a payment option to their online shoppers.
  • IZEA Worldwide Inc., operator of a marketplace for content creators, launched an instant-payment service called PayPop. The service offers to credit content creators’ IZEAx accounts instantly for a 10%-15% fee. Funds can be withdrawn via PayPal.
  • Nexus, a company offering accounts-payable automation, has worked with payment processor Noventis Inc. to expand the availability of virtual credit card payments to Nexus clients.
  • Under a new agreement, point-of-sale systems distributor Posdata Group Inc. will distribute, manage, and support point-of-sale terminals linked to payment-service provider Computop’s U.S. platform. Posdata also said it will distribute Innowi Inc.’s ChecOut M mobile POS terminal.
  • PayActiv, which offers workers access to earned wages, reached an agreement with ride-sharing firm Uber to allow individuals without credit cards to pay for rides by accessing their pay via the PayActiv platform.
  • Consumer revolving credit, most of which is credit card debt, increased in November at a 5.5% seasonally adjusted annual rate, the Federal Reserve reported. Preliminary data pegs revolving credit outstandings at $1.04 trillion in November, up 2% from $1.02 trillion a year earlier.

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