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January, 2019

• 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% …
• 7 November

  Pay-at-the-Table Comes to a Restaurant Group With Ingenico Devices

  

  A restaurant franchiser is deploying Ingenico Group point-of-sale terminals as part of a migration to pay-at-the-table payment acceptance at its TGI Friday’s and Zinburger Wine and Burger Bar locations, Ingenico announced Wednesday. The deal ultimately will see pay-at-the-table service, where the server brings the POS terminal to diners at their …

October, 2018

• 16 October

  What a Difference a Year Makes: Consumer Sentiment Shifts Substantially Toward Tech Firms

  

  With technology companies increasingly eyeing financial services, a survey from Brookfield, Wis.-based bank processor Fiserv Inc. indicates 55% of consumers feel comfortable using a company like Apple Inc. or Alphabet Inc.’s Google to pay bills, up from 40% in 2017. Thirty-nine percent would take out a loan from a tech-company service, …

September, 2018

• 28 September

  Behind the ETA’s Self-Regulation Program for ISOs, Acquirers, and Payment Facilitators

  The word “regulation” generates little enthusiasm in the merchant-acquiring industry, but it’s more palatable when “self” is the operative adjective rather than “government.” Thus, the Electronic Transactions Association is pushing its new Self-Regulation Program for acquirers, independent sales organizations, and payment facilitators. Launched early this month, the voluntary program requires …