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February, 2019

• 13 February

  Celebrating a Record 2018, Global Payments Vows to Ride Integrated Payments to Even Bigger Results

  

  Global Payments Inc. on Wednesday credited a technology-centered strategy it has developed over the past six years for record results in 2018. Chief executive Jeff Sloan also pointed to the increasing investments required of payments providers as a leading cause of industry consolidation, in particular the pending merger of industry …

January, 2019

• 31 January

  Mastercard Issuers Jumping on the Contactless Card Bandwagon

  

  So far, Visa Inc. has dominated the headlines regarding the U.S. conversion to contactless payment cards. Mastercard Inc., however, will soon be getting into the act. “In the U.S., contactless momentum continues to grow on both issuing and acceptance sides,” Mastercard president and chief executive Ajay Banga said Thursday. “We …
• 29 January

  Square Faces Slower Growth Prospects, Analyst Says

  

  Square Inc.’s share price slid 10% Tuesday in the wake of an analyst’s report saying growth for the high-flying merchant processor is becoming tougher. Square’s organic growth probably peaked in 2018’s third quarter and growth in subscriptions and services will slow in 2019’s second quarter as recent acquisitions are absorbed, …
• 23 January

  Microsoft Wallet: Barely There in Mobile Payments, and Soon To Be Gone for Good

  

  Microsoft Corp. says it plans to retire its Microsoft Wallet mobile app, a distant also-ran in the mobile-wallet market, on Feb. 28. The disclosure came in a brief recent post on a company Web site. “Starting on Feb. 28, 2019, the Microsoft Wallet app will be officially retired,” the post says. …
• 22 January

  Integrating Fiserv and First Data Could Take Up to a Decade, Report Says

  

  The proposed mega-deal that has Fiserv Inc. buying First Data Corp. for $22 billion presents integration issues that could take up to 10 years to iron out, according to a new report. “The integration of two companies of this scale will undoubtedly be a challenge—the short-term shock will take more …
• 21 January

  Most Merchants—78%—Experience Fewer Chargebacks Under New Visa Rules, Says One Survey

  

  Almost a year after Visa Inc. altered the chargeback-resolution process, merchants are reaping some of the benefit. A survey of 500 Chargeback Gurus merchants found that 78% have fewer chargebacks under the Visa Claims Resolution program. “The first goal was to streamline the dispute process,” Suresh Dakshina, Chargeback Gurus president, …
• 16 January

  Fiserv Stuns the Industry With a Massive All-Stock Acquisition of First Data

  

  In a stunning announcement that surprised many observers, Fiserv Inc. said Wednesday morning it has struck a deal to acquire First Data Corp. with what the parties say will be the biggest ever such transaction in the payments and financial-technology businesses. The all-stock deal, expected to close in the third …

December, 2018

• 18 December

  Active Role for Fed in Real-Time Payments Gets Support from Big Companies and Small Banks

  

  Big banks generally aren’t too thrilled about the Federal Reserve taking a direct operational role in a U.S. real-time payment system, but smaller banks and credit unions as well as some big companies support the idea. The Fed’s two-month comment period on its proposed Real Time Gross Settlement service closed …
• 4 December

  Consumers Have No Reservations About Using P2P Payments To Give Cash During the Holidays

  

  The surge in popularity for peer-to-peer payments is making itself felt in the realm of holiday gifting, helping to erode a longstanding cultural taboo against giving cash during the annual gift-giving season. Gift transactions rose 47.2% in December 2017 over the monthly average for the previous August through October, according …

November, 2018

• 26 November

  A Fraud Spike at Venmo Vexed PayPal Just As the Company Sought Venmo Revenue

  

  PayPal Holdings Inc. has been trying to make money off of its highly popular but free peer-to-peer payments service, Venmo, but over the weekend a report emerged indicating a surge in fraud could have complicated that effort. Venmo sustained a transaction loss rate of 0.40% in March, up from 0.25% …