Digital Transactions Authoritative, insightful and timely information for payments professionals
Ever since mobile payments first captured the public imagination four years ago with the launch of Apple Inc.’s Apple Pay, experts have debated why usage of the iOS and Android wallets has fallen short of the original, lofty expectations. Some speculate that usage would rise markedly if the mobile wallets …
November, 2018
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15 November
The NASDAQ Accepts USA Technologies’ Compliance Plan, but an Internal Probe Continues
Vending machine payments provider USA Technologies Inc. reported Wednesday that The NASDAQ Stock Market LLC has accepted its plan to regain compliance with its listing rule. The company, however, still hasn’t completed an internal investigation of customer contracts that has delayed the filing of its financial reports. The NASDAQ in …
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15 November
AmEx Launches Virtual Payment Service and other Digital Transactions News briefs from 11/15/18
Boosted by its 2017 acquisition of Singular Payments, merchant processor Payment Data Systems Inc. said its credit card transactions rose 109% year-over-year in the third quarter and dollar volume rose 112%. Revenues increased 80% to $6.47 million from $3.59 million in 2017’s third quarter. The company reported a net loss of …
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14 November
Chase Gets Back Into Contactless Cards, Signaling Stronger Momentum for Tap-And-Go EMV
Giant card issuer Chase once again will issue contactless credit and debit cards, the bank announced Wednesday. Chase, a unit of JPMorgan Chase & Co., says it will begin later this year issuing contactless EMV cards bearing the Visa Inc. brand, first to its Chase Freedom Unlimited and Chase Slate …
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14 November
Cardlytics Adds Nearly 4 Million Consumers to It Rewards Platform, But Forecasted Revenues Fall Short
Rewards platform provider Cardlytics Inc. on Tuesday reported its user base and revenue per active user grew in the third quarter, but the company nonetheless trimmed its full-year revenue forecast. The company’s primary product, Cardlytics Direct, provides merchant-funded rewards programs distributed through financial institutions’ online and mobile-banking sites. Cardlytics Direct …
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14 November
BigCommerce Gives a Lift to Venmo’s Commerce Strategy As It Adds the P2P Service And Masterpass
The e-commerce platform BigCommerce Pty Ltd. on Wednesday announced two new supported payment methods, including PayPal Holdings Inc.’s Venmo service. With the addition of Venmo, Austin-based BigCommerce gave a big lift to PayPal’s strategy to find revenue for what has been a fast-growing but free peer-to-peer payment service, though merchant pricing …
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14 November
Sionic Mobile Announces Single Account Service and other Digital Transactions News briefs from 11/14/18
Sionic Mobile, a provider of payment and rewards technology, announced a single account through which users can pay a range of providers through mobile devices or in-car commerce. Gas Pos, which sells EMV-acceptance services to fuel retailers, announced a $1 million investment from Merus Capital, a venture-capital firm. Bluefin Payment …
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13 November
The Fed Unveils an Industry Group Charged With Developing Faster Payments
Following through on plans disclosed earlier this year, the Federal Reserve on Tuesday formally unveiled the U.S. Faster Payments Council, an industry group charged with collaborating to spur the adoption of faster payments and identify market opportunities. The 22 inaugural members range from retailing giant Walmart Inc. to Visa Inc. …
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13 November
More Consumers See Smart Phones As Crucial Shopping Tools, Though Their Payment Use Lags
As the holiday shopping season swings into gear, look for more consumers using their smart phones for shopping—but not so much for making a mobile payment, says GfK, a Germany-based consulting firm, in its latest FutureBuy research. Forty-five percent of all U.S. consumers rank mobile devices, including smart phones and …
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13 November
Fresh From a $100-Million Funding Round, Poynt Sets a Goal To Be the Common OS for Smart POS Terminals
Poynt Co., a startup supplier of intelligent payment devices, argues so-called smart terminals should have a common operating system like smart phones do. And in announcing a $100 million funding round on Tuesday, the Palo Alto, Calif.-based company also argued it should be the one to provide that OS. Investors …
