Saturday , February 23, 2019

Acquiring

Evertec’s Payment Volumes Surge as Hurricane-Ravaged Puerto Rico Recovers

Puerto Rico-based payment processor Evertec Inc. suffered along with the rest of the island when hurricanes Irma and especially Maria swept through in September 2017 and destroyed homes, businesses, and the electrical grid, but now Evertec’s payment volumes are surging as the island recovers. Puerto Rican transaction volumes were up …

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The Brooklyn Federal Court Gives a ‘Preliminary’ OK to a $6.24 Billion Deal in Interchange Case

The federal court handling the long-running class-action litigation between merchants on one hand and big banks and Visa Inc. and Mastercard Inc. on the other announced on Friday it has granted “preliminary approval” to a settlement that could award between $5.54 billion and $6.24 billion to merchant plaintiffs. The parties …

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PayPal Debuts Rainbow Card for Venmo and other Digital Transactions News briefs from 2/22/19

PayPal Holdings Inc. introduced a so-called rainbow card for users of its Venmo peer-to-peer payments service. The colorful plastic, available for a limited time, is the latest version of a debit card PayPal launched last year to allow users to pay merchants with their Venmo balance. As with the original …

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ATM Operator Cardtronics Sees Better Times Ahead After a Rough 2018

It was a rough 2018 for leading ATM network operator Cardtronics plc, but the company’s top management predicted Thursday that 2019 will be better. Houston-based Cardtronics early last year muddled through the end of its long-standing relationship with its biggest customer, 7-Eleven Inc., which is pulling down year-on-year comparisons. At …

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Goldman Sachs in Apple Credit Card Deal and other Digital Transactions News briefs from 2/21/19

Apple Inc. and the Goldman Sachs Group Inc. will begin issuing a joint credit card this spring, The Wall Street Journal reported. The new card will tie into the Apple Wallet. Apple’s brand already is on a credit card issued by Barclaycard. It is unknown what will happen to that …

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NAB Integrates With Vend and other Digital Transactions News briefs from 2/20/19

Payments provider North American Bancard Holdings LLC said it is integrating its capabilities with retail-management and point-of-sale software provider Vend. The joint service will be available to retailers through NAB’s resellers. Digital Debit Group, a unit of Qondado LLC, released a Quick Response code-based app for iOS and Android devices …

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Apple Pay Adoption Reaches 43% of iPhone Users, Up From 36% Just Five Months Ago

Apple Pay adoption show no signs of abating, with an estimated 43% of iPhone users across the globe enabling the mobile-payments service, says Loup Ventures LLC in a research note released Tuesday. That’s up from 36% in September and 20% in December 2017. Other estimates from the Minneapolis-based venture-capital firm …

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ATM Deployer Paramount Makes Acquisition and other Digital Transactions News briefs from 2/19/19

ATM and payment-services provider Paramount Management Group LLC acquired CAI—The ATM Company, an independent deployer with thousands of ATMs in New Jersey, New York, Connecticut and other states. Terms of the acquisition were not disclosed. A partnership between Transaction Network Services and P97 Networks has processed in-dash fuel payments for …

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ATM Trade Groups Work Together in Push for Bank Access

Two ATM trade groups said Monday they are working together to assure their members get access to banking services in what the associations believe is a risk-averse financial climate. The National ATM Council Inc. and the ATM Industry Association said they signed a memorandum of understanding to jointly develop a …

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Eye on Cryptocurrency: Demise of a Visa Card; Crypto for Truck Parts; a Calmer Bitcoin

A Visa-branded debit card from Shift Financial Inc. that enabled consumers with accounts at digital currency exchange Coinbase to spend based on funds held in their Coinbase accounts reportedly will cease operations in April, said the CoinTelegraph.com news site. The card, issued by Metropolitan Commercial Bank, reportedly faced a limited …

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