News

February, 2019

• 6 February

  As the Fiserv-First Data Behemoth Looms, Jack Henry Issues a Subtle Warning

  

  With the proposed merger of processing giants First Data Corp. and Fiserv Inc. looming over the payments landscape, players that both work and compete with the two companies are in a potentially ticklish position. But the chief executive of one such company made it clear Wednesday morning that First Data …
• 6 February

  Mastercard Names Platform Head and other Digital Transactions News briefs from 2/6/19

  

  Mastercard Inc. named Paul Stoddart, who had been CEO of Vocalink after Mastercard acquired the U.K.-based real-time payments firm in 2017, as president, New Payment Platforms, effective March 1. Stoddart will oversee development of Mastercard’s real-time capabilities beyond traditional card-based services, including Vocalink, the Homesend joint venture, and Mastercard Send. …
• 5 February

  Eye on PayPal: Credit Volume Hits $50 Billion; Venmo Adds Music Streaming Service Tidal as Biller

  

  PayPal Holdings Inc. says it has lent $50 billion to American consumers since it bought the BillMeLater lending service 11 years ago. The company also advanced its efforts to generate revenues from its Venmo peer-to-peer payment service by making subscription payments to the Tidal music-streaming service available through Venmo. Now …
• 5 February

  Repay And Payment Data Systems Separately Put Push Payments in the Spotlight

  

  The concept of push payments is finding favor among payments providers as two companies separately announce new disbursement services. Atlanta-based Repay said its Instant Funding service enables organizations to send funds directly to eligible Visa Inc. debit and prepaid cards via Visa Direct, the network’s real-time debit service. Repay’s lending clients, …
• 5 February

  Revel Releases Two Product Lines and other Digital Transactions News briefs from 2/5/19

  

  Point-of-sale technology provider Revel Systems released two new product lines, Revel Enterprise, for multilocation businesses, and Revel Essentials, aimed at restaurants and businesses with 20 or fewer locations. Shift4 Payments renamed its payment-management platform Lighthouse Transaction Manager. Formerly Dollars on the Net, the service enables merchants to access transaction reporting, …
• 4 February

  Restaurants’ Own Apps Command Most Digital Orders, Research Indicates

  

  When the technology emerged, mobile ordering was thought to be a natural for the restaurant industry, and now there’s some research showing just how popular these apps have become. It turns out that, from 2013 through 2017, digital orders at restaurants grew at an average annual rate of 23%, and …
• 4 February

  USAT’s ePort Connect Coming to Air Vending Service and other Digital Transactions News briefs from 2/4/19

  

  USA Technologies Inc. agreed to provide its ePort Connect contactless-payments technology for air-vending machines deployed by CSC ServiceWorks Inc., a supplier of commercial washers and dryers, with 1.4 million laundry machines in service. Upserv, a payments provider specializing in hospitality, adopted the TM-m30 receipt printer and TM-U220 kitchen printer from …
• 3 February

  New Jersey Lawmakers Pass Bill To Protect Cash-Paying Consumers

  

  New Jersey legislators last week passed a bill with overwhelming support to prevent businesses from banning consumers from using cash for purchases. The bill, which now goes to Gov. Phil Murphy for his signature, would make New Jersey only the second state to protect cash-using customers in stores. The proposed …
• 1 February

  Going by Share Prices, Investors Like What They See in the Massive Fiserv-First Data Deal

  

  Fiserv Inc. and First Data Corp. argue their proposed $22 billion combination will usher in a processing behemoth that should create substantial operating efficiencies and economies of scale. And so far, investors are buying that story. Shares of both companies are up by double-digit percentages since the Jan. 16 announcement …
• 1 February

  Same-Day and P2P Volumes Boom on the ACH While Back-Office Conversions Stage a Comeback

  

  Growth on the automated clearing house network continued apace in 2018’s fourth quarter, boosted by same-day transactions, person-to-person payments, and online commerce. The massive network linking nearly all of the nation’s financial institutions tallied 5.97 billion transactions, up 8.7% from 5.49 billion a year earlier. It was the network’s fastest …