Interac, the Canadian debit network, says a record number of payments were made in 2016 using e-Transfer, its money-transfer service. Transactions totaled 158 million, up 50% from the 2015 total of 105 million. The total value of these transactions reached C$63 billion (US$47.3 billion) in 2016 with an average transaction …
Read More »• Mastercard Inc. said it will move to close its acquisition of VocaLink Holdings Ltd.“within the next few weeks” now that the transaction has been cleared by the United Kingdom’s Competition and Markets Authority. • USA Technologies Inc. said it is providing its contactless ePort Connect payment device for entertainment kiosks from Sneaker …
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Starbucks Corp. showcased it, and now more and more restaurants are adding mobile order-ahead and payment services in an effort to generate new business—and payments firms are only too happy to help them. “Restaurants and other retail merchants are realizing that mobile order ahead is a new sales channel with …
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Payments providers have long recognized how extending credit can create consumer transactions where none would otherwise have occurred, but lately the idea of instant credit is gaining momentum. Companies like Klarna and Affirm have made a splash with on-the-spot credit for online purchases. Now, Austin, Texas-based Vyze Inc. is out to …
Read More »• Merchant processor CardConnect Corp. is paying $39 million for its previously announced acquisition of MertzCo Inc. consisting of $12 million in cash and 1.98 million shares of CardConnect stock valued at $27 million, according to a Securities and Exchange Commission filing from CardConnect. • Visa Inc. has begun allowing issuers of Visa-branded commercial cards …
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The subject of faster payments has been in the news almost continually for months now, but apparently awareness of the subject, and in some cases adoption, remains lower than expected among the financial institutions that will be depended on to implement speedier settlement. That’s if survey results released this week …
Read More »• Attorneys general from 18 states and the District of Columbia sent a letter this week to Congressional leaders urging them to oppose three pending joint resolutions that would overturn the Consumer Financial Protection Bureau’s controversial prepaid account rule. Consumer groups generally favor the rule, but business interests and many Republicans …
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Visa Inc.’s Visa Checkout online payment service now claims more than 20 million enrolled accounts, the payments giant announced Thursday. The service, which launched in July 2014, also added new merchants, among them major retailers and service companies including Wal-Mart Stores Inc. and its Sam’s Club unit, Avis Budget, and …
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Yet another development has unfolded in the dueling bids for wire-transfer provider MoneyGram International Inc. As Ant Financial Services Group and Euronet Worldwide Inc. compete to acquire MoneyGram, Ant Financial on Thursday issued an open letter to MoneyGram that addresses Ant’s potential commitments to the money-transfer company. In addition to …
Read More »• Diebold Nixdorf Inc. claims to be the first ATM manufacturer to support Microsoft Corp.’s Windows 10 operating system. Microsoft will end support of Windows 7, widely used in ATMs, in January 2020. The company also introduced Essence, an ATM user interface that includes a touchscreen, an encrypted touchscreen PIN pad, …
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