Sunday , August 9, 2020

News

July, 2020

  • 30 July

    Debit And Services Help Mastercard Stay Afloat During the Pandemic

    Like its bigger rival Visa Inc., Mastercard Inc. managed to remain profitable during the pandemic-ravaged second quarter and in recent weeks has been seeing improving transaction trends. Mastercard on Thursday reported total U.S. purchase volume of $405 billion in the quarter ended June 30, down 5% from $427 billion a …

  • 30 July

    Galileo Inks Plaid Integration and other Digital Transactions News briefs from 7/30/20

    Payments-technology provider Galileo Financial Technologies LLC announced an integration with data aggregator Plaid Inc. Through Plaid’s links to financial institutions, the tie-in will allow Galileo clients to more readily authorize users for automated clearing house transactions. Visa Inc. announced in January a deal to acquire Plaid for $5.3 billion. Social Finance Inc. (SoFi) agreed in April …

  • 29 July

    PayPal Plots a POS Course With QR Codes As It Comes Off the ‘Strongest’ Quarter in Its History

    PayPal Holdings Inc. has made big plays for the physical point of sale before, but on Wednesday the San Jose, Calif.-based company unveiled what could be its biggest strategy yet to capture transactions at the cash register. Top executives said an arrangement under way with CVS Pharmacy to run PayPal …

  • 29 July

    More Straight Talk for ISOs: Maintaining a Relationship during a Crisis

    Ross Paup is Senior Manager, Strategic Partnerships Angela Carranza is Manager, Strategic Partnerships   Failure to communicate with customers during a crisis can come at a high cost: lost business, lack of trust, etc. How is First American ensuring customers know they are top of mind in today’s environment?    …

  • 29 July

    Businesses Adopt Zelle As the Network’s Numbers Climb in the Face of the Pandemic

    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 …

  • 29 July

    Five Banks Link to TCH RTP Network and other Digital Transactions News briefs from 7/29/20

    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 …

  • 28 July

    Visa Remains Profitable Despite Pandemic Hits; eBay Volume Jumps 26%

    Visa Inc. reported Tuesday that it managed to make nearly $2.4 billion in its June-ending quarter despite massive hits to its international volumes and credit card spending caused by the Covid-19 pandemic, and its chief executive also addressed the latest debit card controversy. Separately, online marketplace eBay Inc. reported its …

  • 28 July

    Durbin Asks Fed Chairman for ‘Appropriate Enforcement Action’ Involving Debit Card Transaction Routing

    U.S. Sen. Richard Durbin and a Vermont Congressman want the Federal Reserve to look into what they say are efforts by debit card issuers “aided by the dominant card networks” to prevent PIN-debit networks from getting a bigger share of booming card-not-present payment volume. “The Federal Reserve should consider appropriate …

  • 28 July

    Payments Gripes Soar During the Pandemic, According to CFPB Data

    Consumer complaints about payment products and services have shot up since March, when the national emergency was declared to deal with the Covid-19 pandemic. Complaints about credit and prepaid card products are up 29% over the same period last year, and gripes about money-transfer, virtual-currency, and money services have soared …

  • 28 July

    Mastercard Agrees to Nets Concessions and other Digital Transactions News briefs from 7/28/20

    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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