Wednesday , October 16, 2019

Near-Field Communication (NFC)

Samsung POS Coming and other Digital Transactions News briefs from 10/15/19

Days after launching services that allow users to make international remittances and use a virtual prepaid card for payments, Samsung Electronics Co. launched Samsung POS, an app that it says will let merchants accept near-field communication payments on their mobile devices. Developed with payments-technology firm Mobeewave, Samsung POS is aimed at micro-merchants and other small …

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UPDATED: Leading Investor Decries ‘Value-Destructive Conduct’ at USA Technologies, Pushes for Change

The honeymoon is over between vending-machine payments provider USA Technologies Inc. and its largest investor, which on Monday accused the company’s board of directors of “value-destructive conduct” and blasted its top brass for “lack of management qualifications or accountability.” The surly announcement by New York City-based hedge fund Hudson Executive …

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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 …

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USA Technologies Finally Files Its Overdue Financial Reports

Unattended-payments provider USA Technologies Inc. announced late Wednesday that it has filed overdue financial reports for its fiscal years 2019 and 2018 ended June 30, as well as several late quarterly reports. The company also restated financial data for some periods dating back to fiscal 2015. The new filings and …

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Samsung Pay Cash Debuts and other Digital Transactions News briefs from 10/4/19

The Samsung Pay mobile wallet introduced a Mastercard-branded virtual prepaid card called Samsung Pay Cash, which is accepted at all locations that accept Mastercard and Samsung Pay transactions. The technology behind the card is provided by Netspend, a unit of Global Payments Inc. The move comes on the heels of Samsung …

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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 …

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C&H Merges with Mann and other Digital Transactions News briefs from 10/3/19

C&H Financial Services Inc. said it merged with Mann Merchant Processing Systems LLC to expand its East Coast operations and grow. The combined company will use the C&H brand. Terms were not disclosed.Merchant acquirer Elavon Inc., a subsidiary of U.S. Bancorp, acquired Gothenburg, Sweden-based payments provider Payius AB. Payius has been an …

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TSYS-Global Merger ‘Best of the Bunch’ and other Digital Transactions News briefs from 9/27/19

The recently completed acquisition of Total System Services Inc. (TSYS) by Global Payments Inc. is “the best of the bunch” among the three megamergers in the payment-processing industry this year, investment research firm Morningstar Inc. says in a new report. The Global-TSYS deal “has the most capacity to reduce costs …

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AmEx Issues Contactless Guide and other Digital Transactions News briefs from 9/26/19

American Express Co. posted an online guide for consumers about contactless cards. Beginning in July of 2019, all newly issued AmEx consumer and small-business cards are contactless-enabled, and starting next month all newly issued corporate cards will be contactless-enabled.P97 Networks, a provider of mobile payments and rewards programs for petroleum retailers, …

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Square Drops Longstanding 2.75% POS Pricing for a Percentage-Plus-Fee Plan

Merchant processor Square Inc. on Nov. 1 will drop its longstanding 2.75% point-of-sale rate for a new pricing plan of 2.6% plus 10 cents. Based on recent U.S. purchase dollar- and transaction-volume statistics from the bank card networks, Digital Transactions News calculates the new pricing plan will generate about 1% …

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