Digital Transactions Authoritative, insightful and timely information for payments professionals
Boosted in part by growing card-issuer demand for chip cards that support both contact and contactless payments, card manufacturer CPI Card Group Inc. on Thursday reported a 32% first-quarter increase in sales of U.S. credit and debit cards. Littleton, Colo.-based CPI didn’t specify how much dual-interface cards, which can handle …
May, 2019
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10 May
The Acquiring Industry Wonders if BofA and First Data Are Heading To Divorce Court
A report that Bank of America Corp. might not renew its joint merchant-acquiring venture with leading payment processor First Data Corp. left observers wondering Thursday what the break-up of one of the payments industry’s biggest players would mean for the companies involved, and the wider industry. The joint venture, Bank …
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10 May
Cardlytics Monthly Users Increase 85% and other Digital Transactions News briefs from 5/10/19
Cardlytics Inc., a company that uses purchase data to help financial institutions manage their rewards programs with retail partners, reported its count of monthly active users reached 108.5 million in the first quarter, up 85% over the first quarter of 2018, as users from new clients JPMorgan Chase & Co. …
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9 May
Green Dot’s Shares Tumble After Management Announces a $60-Million Plan
Green Dot Corp. saw its shares plummet Thursday morning after its chief executive late Wednesday surprised stock analysts with a plan to invest $60 million later this year in initiatives aimed at expanding the company’s reach into new markets for banking services. At mid-morning, the Pasadena, Calif.-based payments company was …
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9 May
ACI Acquires Western Union’s Walletron Mobile Bill-Presentment Business
In an effort to boost its electronic bill-payment offerings, payments-technology provider ACI Worldwide Inc. on Thursday announced its second recent acquisition from The Western Union Co., this one of mobile bill-presentment provider Walletron Inc. Today’s announcement came at the same time Naples, Fla.-based ACI said it will complete its previously …
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9 May
BofA Mulls Ending First Data JV and other Digital Transactions News briefs from 5/9/19
Bank of America Corp. is considering not renewing its merchant-acquiring joint venture with First Data Corp., known as Bank of America Merchant Services, when the contract ends in June 2020, The Wall Street Journal reported, citing unnamed sources. BAMS is the nation’s third-largest acquirer, having processed $840 billion in payment …
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8 May
NCR Says Its Integration of Processor JetPay Into Its POS Systems on Track
Integration of JetPay, the processor NCR Corp. bought for $184 million in 2018, into NCR’s point-of-sale systems will be more broadly available in the second half of 2019, NCR said Tuesday. NCR intended to marry JetPay with its POS systems, including NCR Silver and Aloha, in an effort to offer …
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8 May
Account-Validation Requirement Coming to ACH Internet Payments
An automated clearing house network rule tightening security around Internet purchases, one of the ACH’s fastest-growing transaction categories, is set to take effect Jan. 1. The rule change, technically an amendment, affects so-called WEB debits, which cover a wide variety of ACH-funded Internet payments. It will require merchants as ACH …
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8 May
Visa Completes Earthport Deal and other Digital Transactions News briefs from 5/8/19
Visa Inc. closed on its acquisition of Earthport, a provider of cross-border payments services. The card network says it expects the acquisition to allow it to access “the vast majority of the world’s banked population” to allow them to move money globally. Earthport earlier this year had been the object …
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7 May
ACH Q1 Volume at 6 Billion and other Digital Transactions News briefs from 5/7/19
NACHA said automated clearing house volume in the first quarter totaled 6 billion payments that included 3.5 billion debit transactions and 2.5 billion credit transactions. Internet-initiated payments increased 10.3% to 1.6 billion. Same-day ACH transactions totaled 52.7 million, up 24% from a year prior. NACHA also launched the NACHA Corporate …