News

January, 2018

• 2 January

  Citing U.S. Government Resistance, MoneyGram And Ant Financial Call Off Their Merger

  

  Unable to get approval from federal authorities, wire-transfer provider MoneyGram International Inc. and China-based Ant Financial Services Group disclosed Tuesday that they have terminated their merger agreement, almost a year after it was first proposed. In a joint news release, the firms said they’re bailing on Ant’s plan to acquire …
• 2 January

  Pinpoint Intelligence Adds High-Risk Merchants and other Digital Transactions News briefs from 1/2/18

  

  A startup called Prepaid2Cash announced the availability of its app for both iOS and Android. The app allows holders of network-branded prepaid cards to move money from the card to a bank account within three days. The service costs 7.5% plus $1.50. Payments provider Pinpoint Intelligence said it now serves …

December, 2017

• 29 December

  ATM Operator Prineta Makes Acquisition and other Digital Transactions News briefs from 12/29/17

  

  Kansas-based ATM operator Prineta LLC said it has acquired 20 ATMs in Corpus Christi and Coastal South Texas. The seller’s identity was not immediately available. Prineta operates more than 1,000 ATMs nationwide, according to a spokesman. This is the company’s third ATM acquisition in 2017. Forever 21 Inc. reported encryption …
• 28 December

  Issuers Face Increased Chargeoffs and other Digital Transactions News briefs from 12/28/17

  

  Merchant processor EVO Payments International said it has an agreement with Madrid-based Liberbank SA to buy Liberbank’s merchant-acquiring business in Spain; terms of the deal, which is expected to close by March 31, were not disclosed. Credit card delinquencies and chargeoffs have increased slightly over the past year, according to …
• 27 December

  Amazon’s Voice Shopping and other Digital Transactions News briefs from 12/27/17

  

  Mastercard Inc.’s latest SpendingPulse report says year-over-year holiday sales increased 4.9%, their best showing since 2011. Online sales grew 18.1%. The report for the Nov. 1-Dec. 24 period covers all payment types, including cash and checks. Without being more specific, Amazon.com Inc. said “millions” of members of Amazon Prime shopped …
• 26 December

  Bitcoin’s True Value and other Digital Transactions News briefs from 12/26/17

  

  Due to a data breach that affected an unknown number of customers, Nissan Canada Finance, the financial division of automaker Nissan’s Canadian operation, is contacting all of its 1.13 million current and former customers; the breach may have compromised customer names, credit scores, loan amounts, and other information, Nissan said. …
• 22 December

  CFPB Postpones Prepaid Rule Again and other Digital Transactions News briefs from 12/22/17

  

  The Consumer Financial Protection Bureau announced its intention to extend once again the effective date of its massive 2016 rule governing prepaid accounts “to allow additional time for implementation of the final rule.” The announcement does not specify a new effective date. The agency had earlier extended the deadline from …
• 21 December

  COMMENTARY: Five Tips To Help Your Merchants Master Their Loyalty Programs

  

  Swipe, confirm sale, and sign. Swipe, confirm sale, and sign. Checkout on a point-of-sale system is a routine engagement for today’s consumers, and as such, many businesses overlook the opportunities that a POS system can provide. As an advisor to these businesses, you can inform them that POS is no …
• 21 December

  Credit Card Payments Continue To Lead the Pack in Growth, Fed Study Finds

  

  Boosted by e-commerce sales, growth in credit card payments far outpaced growth in debit card and automated clearing house payments in 2016, according to newly released findings from the Federal Reserve. Credit card transactions grew 10.2% from 2015’s levels to 37.3 billion and were valued at $3.27 trillion, the Fed …
• 21 December

  In the Wake of Bitcoin Mania, Transaction Fees Surge for a Trio of Major Cryptocurrencies

  

  Bitcoin’s high-flying value has lost some altitude lately, but the cost to perform a transaction is reaching record highs. At the same time, other major cryptocurrencies have also become increasingly expensive not only to buy but to use as a means of exchange. The average fee to perform a Bitcoin …