By John Stewart @DTPaymentNews With Citigroup Inc.’s decision to join the network, the bank-controlled clearXchange person-to-person payments service has dramatically expanded its reach at a crucial time—just as it faces increasing competition from nonbank P2P rivals and in advance of a major rebranding set to take effect next year. The …
Read More »• The U.S. Supreme Court agreed to hear a challenge to a New York state law barring retailers from imposing credit card surcharges, Reuters reported. A federal appellate court upheld the law a year ago; nine other states have similar laws. • Online business lender Merchant Advance Capital said it …
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By John Stewart @DTPaymentNews Payments networks face a competitive landscape marked by rapid innovation, so the two biggest systems, Visa Inc. and MasterCard Inc., are responding by increasing the access developers have to their once tightly guarded skunk works. The latest move comes Wednesday from MasterCard, which announced MasterCard Developers. …
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By Jim Daly@DTPaymentNews As mobile wallets rapidly evolve, Samsung Electronics Co. Ltd. late Tuesday put out a birthday card of sorts reminding the world that its Samsung Pay service is now a year old in the United States. In that time, Samsung Pay has added payment-card issuing partners, but the …
Read More »• Payments processor Vantiv Inc. said its eProtect payment-security service now works with Android Pay. Vantiv also announced its validated point-to-point encryption service now includes VeriFone Systems Inc. point-of-sale equipment. • PayPal Holdings Inc. said consumers now can make PayPal payments using PayLease, a payments and billing platform for property …
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By Kevin Woodward@DTPaymentNews Apple Pay’s latest incarnation—enabling one-click payments for mobile and desktop Web-site purchasing—deftly brings the familiarity of such payments to Apple Pay users and merchants. At least, that’s my take on it, having used it last week when the service was released as part of an Apple Inc. …
Read More »• E-commerce marketplace Rakuten.com will allow merchants outside the United States to sell to U.S. customers and collect payments in their local currency through a new arrangement with processor Payoneer. • First National Bank of Pennsylvania added a feature called CardGuard to its mobile-banking app that lets users turn their …
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By John Stewart@DTPaymentNews Wal-Mart Stores Inc.’s deal with JPMorgan Chase & Co.’s ChaseNet processing network, announced Thursday morning, proves that the nation’s biggest retailer can make peace with the big card brands if the terms are right. And it may indicate bigger prospects for Chase’s ambitious merchant-acquiring operation. Under the …
Read More »• U.S. Attorney General Loretta Lynch is expected to announce a crackdown on a global mail-fraud scheme that allegedly stole millions of dollars from elderly victims, CNNMoney reported. At the center of the investigation is an Canadian processor named PacNet Services Ltd. that reportedly deposited many of the victims’ checks. …
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By John Stewart @DTPaymentNews Companies that have been planning for months for the arrival Friday of same-day automated clearing house payments are getting ready to pounce, and one of the first opportunities lies in platform payouts. Des Moines, Iowa-based Dwolla Inc., for example, on Wednesday is announcing a new feature …
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