August 3, 2020
Acquiring, Competitive Strategies, Credit Cards, Debit Cards, Marketing, Mobile Commerce, Transaction Processing
Global Payments Inc. announced a multiyear agreement with Amazon.com Inc.’s Amazon Web Services to offer cloud-based issuer processing to financial institutions globally. AWS services in the deal will include storage, compute, database, security, analytics, and machine learning. For the second quarter, Global reported $1.52 billion in adjusted net revenue, down 14% year-over-year compared …
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July 31, 2020
Competitive Strategies, Marketing, Person-to-Person Payments, Transaction Processing
The Covid-19 pandemic has driven consumers and businesses to digital alternatives for payments, and money transfers are proving to be no exception. MoneyGram International Inc. reported Friday morning transactions online and through its app grew 106% year-over-year and accounted for 27% of all transactions in the June quarter, up from …
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July 31, 2020
Acquiring, Competitive Strategies, E-Commerce, Fraud & Security, Marketing, Point-of-sale, Remote Deposit Capture, Transaction Processing
With consumers flocking to e-commerce during the Covid-19 pandemic, net product sales for Amazon.com Inc. totaled $50.2 billion the June quarter, up 40% year-over-year. Sales at its physical stores dropped 13% to $3.8 billion.China will surpass the United States as the world’s largest retail market this year, eMarketer Inc. predicted in its “Global …
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July 31, 2020
Acquiring, Competitive Strategies, Featured, Marketing, Mergers & Acquisitions, Point-of-sale, Transaction Processing
Shift4 Payments Inc. is scheduled to have its first quarterly earnings call as a publicly held company on Thursday. Ahead of that call, company founder and chief executive Jared Isaacman is expressing satisfaction with the merchant acquirer’s June 4 initial public offering. The oversubscribed IPO was priced at $23 per share, …
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July 29, 2020
Competitive Strategies, Featured, Issuing/Originating, Marketing, Person-to-Person Payments, Transaction Processing
Peer-to-peer payments networks like Zelle were introduced as a means for consumers to pay each other, but business acceptance now appears to be ramping up along with consumer usage in the face of the Covid-19 pandemic. Seven major financial institutions are now enabling property owners, home-services companies, and other small …
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July 29, 2020
Acquiring, ATMs, Competitive Strategies, E-Commerce, Issuing/Originating, Marketing, Mobile Commerce, Person-to-Person Payments, Prepaid Cards, Real-time Payments, Transaction Processing
Five banks linked to The Clearing House Payments Co.’s Real Time Payments (RTP) network on a single day. The five—Dogwood State Bank, First Fidelity Bank, National Bank of Texas, Royal Bank, and Signature Bank—joined through Jack Henry & Associates Inc.’s JHA PayCenter. A Jack Henry executive said the company expects to “onboard …
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July 28, 2020
Acquiring, ATMs, Competitive Strategies, Credit Cards, Debit Cards, E-Commerce, Electronic Checks, Issuing/Originating, Marketing, Mergers & Acquisitions, Mobile Commerce, Real-time Payments, Transaction Processing
Mastercard Inc. is offering some concessions in its bid to win approval from European Union competition authorities for its planned $3.2 billion acquisition of major parts of Denmark-based payment processor Nets Group, Reuters reported.California’s Department of Motor Vehicles selected payments provider Forte Payment Systems to oversee the DMV’s e-check verification process.Digital-banking technology provider Tyfone Inc. has …
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July 27, 2020
Competitive Strategies, Digital Currency, E-Commerce, Issuing/Originating, Marketing, Mobile Commerce, Pricing, Transaction Processing
The big card networks have been introducing a one-click e-commerce checkout and plan to take it overseas by next year, but now a Ripple Labs Inc. executive may beat them to the punch with a single-click capability for Ripple’s XRP cryptocurrency. In what he characterizes as a “personal project,” Ripple director …
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July 24, 2020
Acquiring, Competitive Strategies, Credit Cards, Debit Cards, Issuing/Originating, Marketing, Point-of-sale, Transaction Processing
American Express Co. felt the full brunt of the global Covid-19 pandemic in the opening weeks of the second quarter, and on Friday it released numbers showing just how hard the swoon in travel and other key sectors hit the company. Executives also took time on a conference call with …
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July 23, 2020
Competitive Strategies, E-Commerce, Marketing, Mobile Commerce, Pricing, Transaction Processing
Expanding on an initiative it began April that offered free listings for some merchants, search-engine leader Google on Thursday announced a test that charges zero-percent commissions to online sellers when they sell a product through its Shopping Actions service. In addition, sellers can use Shopify Inc.’s payment service as well …
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