News

August, 2019

• 15 August

  EMVCo Proposes Spec Changes To Accommodate Longer Issuer IDs

  

  Payment card standards body EMVCo on Thursday disclosed proposed specifications changes to accommodate the coming of longer issuer identification numbers on credit and debit cards, changes that could affect merchants using card numbers to identify their loyalty program members in addition to processing protocols. The changes stem from a revised …
• 15 August

  ETA Picks Software Association Executive as Its Next CEO

  

  The new chief executive of the Electronic Transactions Association will begin work the week of Sept. 3. The Washington, D.C.-based ETA said Thursday Jodie L. Kelley, senior vice president and general counsel at BSA-The Software Alliance, assumes the role vacated in January by Jason Oxman, who left to head up …
• 15 August

  Repay Acquires TriSource Solutions and other Digital Transactions News briefs from 8/15/19

  

  Repay Holdings Inc. announced the acquisition of TriSource Solutions for up to $65 million. TriSource, founded in 2007, provides back-end transaction-processing services to independent sales organizations. TriSource has been Repay’s primary third-party processor for back-end settlement since 2012.The U.S. District Court in Cleveland approved a $4.3 million settlement of a class action filed …
• 14 August

  Priority’s Earnings Tempered by Subscription-Billing Merchant Changes

  

  Priority Technology Holdings Inc.’s total merchant bank card processing volume increased 10.9% in the second quarter, from $9.9 billion to $11 billion, but the merchant acquirer continues to deal with the wind-down of some online subscription-billing merchants. Alpharetta, Ga.-based Priority said Tuesday that the wind-down of the subscription merchants stems …
• 14 August

  After a Quarter Century, E-Commerce Heads Into New Territory

  

  Hard to believe, but e-commerce is a quarter-century old. Along the way, e-commerce radically changed retailing and payments, and now it’s heading into a future with more growth certain but where payments are more in the background. Visa Inc. this week reported in a blog post that the first e-commerce …
• 14 August

  Accenture Releases Cybercrime Report and other Digital Transactions News briefs from 8/14/19

  

  Accenture released its 2019 Cyber Threatscape Report that examines cybercrime operating models and the effects of ransomware.Point-of-sale equipment maker Star Micronics said Square Inc. now supports its mG-Scale products.In a survey of 100 small businesses, installment-payments provider Klarna found that 40% of online retailers said operational size was the biggest barrier to adopting new payment options.Agreement Express …
• 13 August

  More Colleges Making Student IDs And Payments Available in Apple Wallet

  

  Apple Inc. says 12 U.S. colleges, with more than 100,000 students, will enable contactless student IDs in Apple Wallet this school year. The students will be able to use their student IDs on iPhones and Apple Watches to enter buildings protected by keycard access, buy meals, and make purchases in college …
• 13 August

  Venmo’s Latest Instant-Transfer Gambit Leverages Faster Payments As It Digs for Revenue

  

  With real-time payments in the headlines these days, it’s not surprising payments companies are jumping on the faster-payments bandwagon. But some, like PayPal Holdings Inc., are finding ways to use speedier funds to bolster revenue. PayPal on Monday announced its latest instant-transfer service, this one allowing Venmo users to move …
• 13 August

  Repay Debuts Instant Funding in Canada and other Digital Transactions News briefs from 8/13/19

  

  Repay Holdings Corp. launched its Instant Funding product in Canada. The service uses Visa Inc.’s Visa Direct service to send funds directly to eligible Visa debit and prepaid cards. Repay said Canadian lenders and finance companies can disburse funds electronically and eliminate traditional checks and electronic funds transfer transactions. Repay also …
• 12 August

  A Rising Tide of Digital Payments Will Bring New Fraud Threats, Says Forrester

  

  As payment companies expand ways for consumers to make digital payments, 62% of North American merchants, bankers, and fintech providers expect more such payments within the next two years, says Forrester Research Inc. in its “Understanding the Evolving Payments Landscape” report released Monday. Commissioned by Visa Inc., the report also found …