Mastercard Inc. says a number of new partners have signed on to use or test its Mastercard Bill Pay Exchange platform, including Consolidated Edison Co. of New York (ConEd), one of the nation’s largest utilities. Unveiled a year ago, Bill Pay Exchange enables consumers using their bank or credit union’s online …
Read More »How a New Credit Card From Synchrony Could Help Boost Revenue for PayPal’s Venmo
PayPal Holdings Inc. has made no secret of its push to generate revenue from its highly popular—but free—Venmo peer-to-peer payment service. Its latest gambit came to light early Thursday with the news that long-time finance partner Synchrony Financial will issue a Venmo credit card for the U.S. market starting the …
Read More »Galileo Lands $77 Million in Funding and other Digital Transactions News briefs from 10/17/19
Galileo Financial Technologies, a 19-year-old developer of application programming interfaces for payments, announced a $77 million institutional funding round led by venture-capital firm Accel.Flowhub Holdings Inc., provider of a management platform for cannabis retailers, announced a Series A funding round whose participants included Iqram Magdon-Ismail, the co-founder and former CEO …
Read More »Google Pay Gains Transit Connection and other Digital Transactions News briefs from 10/14/19
Cubic Corp.’s Cubic Transportation Systems unit agreed to integrate contactless transit cards with Alphabet Inc.’s Google Pay mobile-payments app. The integration will begin with contactless payment systems for transit in London, Miami, and New York.BMW, General Motors, Ford, Renault, and Honda will reportedly begin testing a blockchain-based in-car identification and payment system next month …
Read More »Fattmerchant Adds Online-Review Integration and other Digital Transactions News briefs from 10/11/19
Payments provider Fattmerchant launched an online-reviews integration feature, which provides merchants the ability to view and respond to reviews, such as those on Google, within the Fattmerchant platform.Aiming at hourly workers, a startup called Branch launched a free digital checking account and a debit card through Evolve Bank & Trust and Mastercard Inc.Cybersecurity firm GM …
Read More »Mobile Wallets Dominate the News, But Most Consumers Still Want Physical Gift Cards
The holidays are approaching, and with that annual shopping frenzy comes a yearly boost in gift card sales. As it turns out, though, most gift cards are likely to be plastic or paper rather than digital, according to consumer and small-business research released Thursday. While preference for digital cards is growing, …
Read More »Eye on Mobile Payments: More About Samsung Pay Cash; Zelle Eyes Community Banks
More details emerged Tuesday about Samsung Pay Cash, the virtual prepaid card Samsung Electronics America Inc. first announced late last week as the latest feature for its mobile wallet. Global Payments Inc., the big Atlanta-based processor that recently acquired Total System Services Inc. (TSYS), said Monday it has now integrated …
Read More »Consumers View Mobile Payments As Poorly Protected Against Financial Loss
Payments executives love to talk about the security of paying with a smart phone, but that message still hasn’t gotten through to consumers, according to new survey findings from The Pew Charitable Trusts. The good news for mobile-payments proponents is that Pew found more than half, 56%, of its respondents …
Read More »Samsung Pay Looks to Cross-Border Transfers As a New Growth Market
Adoption of mobile-payment apps in the United States has been tepid, so the so-called “Pays”—Apple Pay, Google Pay, and Samsung Pay—have sought new features to spike consumer interest. The latest gambit comes from Samsung Pay, which on Thursday announced an integration that will allow U.S. users to send payments to …
Read More »Mobile Payments Firm AeroPay Launches a Cash-Back Incentive
AeroPay, the mobile-payments service from Aero Payments LLC, debuted a 1% cash-back rewards program for its users. AeroPay, which uses a connection to the automated clearing house network for its transactions via Dwolla Inc., says consumers using its iOS or Android app can earn unlimited 1% cash-back rewards. The payout …
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