Mobile Commerce

Under pressure from changing market conditions and challenges from digital-based competitors, money-transfer giants The Western Union Co. and MoneyGram International Inc. both reported disappointing second-quarter results. In addition, Denver-based Western Union said it will chop its workforce by 10% over the coming months as part of a cost-reduction campaign it …

As Square Inc. enters its 11th year in business, observers have noted how it is depending increasingly on sales to larger sellers. But its financial results for the second quarter, released Thursday, indicate how the San Francisco-based company is also depending more and more on its rapidly growing consumer business, …

A new report about online security finds that 50% of phishing domains that researchers tracked mimicked the Web sites of financial-services companies. The findings come from the “State of the Internet/Security” report released Wednesday by Cambridge, Mass.-based Web-services provider Akamai Technologies. Forever a favorite of criminals, banks and other financial …

The end of Bank of America Merchant Services, a merchant-acquiring joint venture between Bank of America Corp. and First Data Corp., is at hand.  Charlotte, N.C.-based BofA said Monday it will pursue an independent merchant-acquiring strategy beginning in June 2020, though First Data, which that same day became part of …

Mastercard Inc. saw strong growth in its core business in the second quarter, a time when the network continued its push for contactless cards and development of the new Secure Remote Commerce system for online payments. Mastercard said it switched 21.4 billion transactions globally in the three months ending June …

Major credit card issuer Capital One Financial Corp. said it detected a data breach this month in which an intruder gained access to records affecting 100 million persons in the United States and 6 million in Canada. Affected data included such information as names, addresses, Zip Codes, and dates of birth, though …

Two payments players separately have added partner programs to boost their presence among merchants. Shift4 Payments LLC debuted its third-party point-of-sale marketplace with the DoorDash delivery service as a strategic participant. The Shift4 program enables companies like DoorDash to offer their applications to merchants within the Shift4 POS marketplace.  For …

Fiserv Inc. formally announced the closing of its $22-billion, all-stock acquisition of processing giant First Data Corp.MagTek Inc. said its DynaPro Go PIN pad now offers Bluetooth LE connectivity. The company also launched its iDynamo 6 mobile card reader that works with iOS, Android, and Windows operating systems.Utah’s Deer Valley Resort said it detected malware on May …

PayPal Holdings Inc.’s payments juggernaut shows no signs of weakening, but the company has found its latest product integrations bedeviled by slowdowns, forcing it to postpone some expected revenue. One such integration with bill-payment specialist Paymentus Corp. is a crucial one because it will allow PayPal to enter an enormous, …

Discover Financial Services’ Payment Services unit reported its transaction volume grew 8% year-over-year to $61.8 billion, a result that included 7% growth for its Pulse electronic funds transfer network. Overall, total Discover revenue net of interest expense increased 10% to $2.85 billion, while net income jumped 13% to $753 million.In related …