Digital Transactions Authoritative, insightful and timely information for payments professionals
• Repeal of the Durbin Amendment took a step closer to reality with the passage of the Financial Choice Act by the House Financial Services Committee by a 34-26 vote. The full House is expected to take up the bill by the end of the month. • MoneyGram International Inc. said …
Read More »Sage Payments Solutions for Sale and other Digital Transactions News briefs
• Two executives of Commerce Payment Systems, which had been a Hewlett, N.Y.-based independent sales organization, have been charged in a $30 million scheme that overbilled more than 10,000 merchants, announced the U.S. Attorney for the Southern District of New York this week following the unsealing of an indictment. The charges …
Read More »How the Shift to Mobile Is Fueling Online Consumers’ Interest in Instant Financing
Online merchants looking to increase their sales volume may want to consider offering instant financing. A study by Researchscape International reveals that 75% of respondents would be more likely to purchase from an online retailer that offers instant financing than one that does not. Another 28% said they would be …
Read More »Fleetcor To Expand Its B2B Payment Footprint With Pending Cambridge Acquisition
Fleetcor Technologies Inc., a big provider of fleet-fueling, payroll payments, and gift card services, said it has a definitive agreement to acquire Cambridge Global Payments, a Toronto-based processor of cross-border business-to-business payments that handles $20 billion annually in vendor and employee payments for 13,000 companies. The purchase price is C$900 …
Read More »The Numbers Brighten in the First Quarter for Merchant Processor Square
The numbers moved in the right direction for Square Inc. in the first quarter, with gross payment volume up 33% and profitability measures improving. But an analyst urged the merchant acquirer to disclose more data about its fast-growing but potentially volatile loan business called Square Capital. San Francisco-based Square reported Wednesday …
Read More »Mastercard’s Transactions Grow 17%, Partly Because of More U.S. PIN-Debit Volume
Mastercard Inc. reported Tuesday that it switched nearly 17% more transactions in the first quarter than it did a year earlier. Most of the growth came from overseas, but some of it resulted from more U.S. PIN-debit volume, company executives said. Purchase, N.Y.-based Mastercard said it switched 14.7 billion transactions …
Read More »First Data and Flywire Team Up and other Digital Transactions News briefs
• Processing giant First Data Corp. and cross-border payments specialist Flywire Corp. announced a collaboration by which Flywire education and health-care clients will be able to more easily accept cross-border card payments and First Data clients will be able to more readily accept high-value international remittances. • Gro Solutions, a vendor of digital solutions …
Read More »Surcharging Ahead
Merchants like programs that cover their credit card acceptance costs. So do ISOs and acquirers, some of which see a big opportunity in programs that help merchants with surcharging. Surcharging for credit card transactions or offering a cash discount may have obvious benefits for merchants, but these programs also carry …
Read More »Why the Secret Sauce Isn’t So Secret Any More
With the rise of APIs and the race for consumer loyalty, payments players are under pressure to innovate as never before. The result? A new openness to outside developers. If anything in the payments business can be said to approximate a company’s crown jewels, it’s the code that controls, uniquely …
Read More »Nonstop Upgrades
The ATM EMV conversion is only partly done, and now deployers are beginning preparations for Windows 10 only a few years after upgrading to Windows 7. ATM deployers can take solace in the fact that their EMV upgrades are going faster than merchants’ conversion to chip card acceptance. But lest …
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