News

December, 2013

• 18 December

  VeriFone’s New CEO Outlines His Plans To Get the Terminal Maker Back on Track

  Paul Galant, the new chief executive of payment-processing hardware and software maker VeriFone Systems Inc., says he’s committed to increasing research and development, rationalizing VeriFone’s sprawling product lines, and becoming “more nimble and more focused on our strengths.” Galant, a former senior Citigroup Inc. executive who took the helm 78 …
• 18 December

  Amazon’s Apparent GoPago Deal Could Presage Move Into Brick-And-Mortar POS, Experts Say

  Online retailer Amazon.com Inc. appears to have bought tablet and mobile point-of-sale provider GoPago Inc., according to a report in La Repubblica, an Italy-based newspaper. In the report, Vincenzo Di Nicola, a GoPago co-founder and its chief technology officer, says Amazon paid an undisclosed amount for the company. The article, …
• 17 December

  Reflecting Acquiring-Industry Changes, the ETA Rebrands Its Annual Conference as ‘Transact’

  For more than 20 years the Electronic Transactions Association’s conference has been known as the “ETA Annual Meeting & Expo.” But next spring the merchant-acquiring industry’s biggest gathering will be known as “Transact 14: Powered by ETA.” The rebranding around the “Transact” name, according to ETA chief executive Jason Oxman, …
• 17 December

  Mercury Payment Takes A Step Toward Going Public

  Mercury Payment Systems LLC may be considering a move to take the independent sales organization public. On Friday, Durango, Colo.-based Mercury issued a release disclosing it had filed a confidential draft registration statement with the U.S. Securities and Exchange Commission that may presage the payment company’s public stock offering. Such …
• 16 December

  Court’s Greenlight for Settlement Hardly Signals Battle’s End As Merchants Gird for Appeals

  Retailers, and the trade associations representing them, that are opposed to a $5.7 billion settlement of a class-action antitrust case challenging credit card interchange rates are contesting federal judge John Gleeson’s affirmation Friday of the settlement amount. Defendants in the 8-year-old litigation, which was heard in the District Court of …
• 13 December

  Federal Court Issues OK for Multibillion-Dollar Credit Card Interchange Settlement

  Capping years of complex litigation, a federal court on Friday approved a controversial multibillion-dollar settlement of a class-action antitrust case challenging credit card interchange rates. With his imprimatur, Judge John Gleeson of the U.S. District Court for the Eastern District of New York has brought apparent—but only apparent—finality to a …
• 12 December

  Apple, Shopkick Among First to Deploy Bluetooth LE for Commerce; PayPal’s Closing in

  A wireless connectivity standard known as Bluetooth Low Energy appears to be getting a high-energy reception in payments and commerce. Apple Inc. is among the first to put the technology to use in its stores. On-the-spot rewards company Shopkick is testing it in two Macy’s stores, one in New York …
• 11 December

  Debit Networks Form Organization to Work on EMV As Court Mulls Durbin Decision

    Ten U.S. debit networks have formed the Debit Network Alliance LLC, an organization meant to ensure they have a competitive stake in the debit industry following the U.S. payment-industry migration to the EMV chip card standard, expected within a couple of years. The new group has sprung up as …
• 10 December

  Retailer-Backed MCX Signs up ‘Heart’ of Commerce, Locks in Merchant Acceptance

  While questions remain concerning when it will launch and how it will work, the Merchant Customer Exchange mobile-payments venture continues to sign up retail companies large and small. And in a twist unique to MCX, with each merchant it signs for acceptance it apparently fences off that merchant from competing …
• 10 December

  Digital Transactions News Puts Apple’s iBeacon to the Test, And Finds It Works As Advertised

  With 58% of U.S. consumers owning a smart phone, according to a report from the Pew Internet & American Life Project, it’s no wonder that retailers want some time and space on the small-screen mobile devices. Apple Inc., which according to the Pew report, has 25% of the smart- phone …