Digital Transactions Authoritative, insightful and timely information for payments professionals
The number of consumers using at least one of the major third-party mobile-payment services—Apple Pay, Android Pay, or Samsung Pay—will top 150 million globally by the of 2017, says Juniper Research, a U.K.-based firm, in its “Is OEM-Pay the Future of Contactless” report. Some 50 million of them will begin …
May, 2017
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15 May
EVO Makes Another Acquisition and other Digital Transactions News briefs
• EVO Payments International announced it purchased the remaining ownership interest in Zenith Merchant Services, a Montreal-based payments provider. Terms were not disclosed. • Payments processor Computer Services Inc. has integrated data from Dow Jones Risk & Compliance for sanctions screening to help clients control the risk of doing business with politically …
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15 May
CardFree Charges That Rival LevelUp Fraudulently Accessed Its Order-Ahead Service
It could be taken as a sign of how competitive the order-ahead-and-pay feature has become in the rapidly developing market for mobile payments. In a lawsuit filed in federal court on May 2, CardFree Inc. has accused rival mobile-payments developer Scvngr Inc. of fraudulently accessing CardFree’s technology to process orders …
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12 May
For Payments Players, Not Much Cause for Optimism in the Age of Trump, Analysts Warn
While much of the corporate world has high hopes for a business-friendly bent from the Trump Administration, two policy analysts on Wednesday poured cold water on some of the payments industry’s fondest hopes for regulatory relief. One such hope, to scrap a 1,689-page rule regulating prepaid cards, was sinking fast …
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12 May
VeriFone And Global Payments Sign up for Mastercard’s Speedy EMV Protocol
Efforts to make the EMV payment process more appealing to consumers and merchants got another boost with Mastercard Inc.’s announcement Thursday that point-of-sale equipment maker VeriFone Systems Inc. and payment processor Global Payments Inc. now support the card brand’s M/Chip Fast protocol. The protocol, announced a year ago, enables developers …
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12 May
NRF Launches Durbin Amendment Campaign and other Digital Transactions News briefs
• The National Retail Federation on Friday launched a multimedia advertising campaign urging the House of Representatives to protect the Durbin Amendment. The campaign, which includes radio commercials targeting the districts of key Congressmen who have expressed support for repealing Durbin, comes as the House prepares to take up the Financial …
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11 May
Bambora Makes U.S. Debut and other Digital Transactions News briefs
• Merchant processor Cayan has acquired Dallas-based Card Payment Services LLC, which processes more than $700 million annually for the waste-disposal industry. Terms were not announced. • Beanstream, a Canada-based payments provider that operated in the United States as Beanstream USA, has adopted its parent company’s name—Bambora—and will now will act as the …
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11 May
A Complex Set-up Process Inspires the Launch of ‘Payment Facilitator in a Box’
Payments consultants Todd Ablowitz and Deana Rich are out to prove you don’t have to spend months or years setting up to be a merchant-aggregation model that lets sellers process transactions on the aggregator’s merchant account. All told, the model holds the potential to generate more than $4.4 billion in …
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11 May
A P2P Payments Adoption Upswell Is Looming in 2017, According to a BofA Survey
Consumers of all ages appear to be embracing person-to-person payments, finds the Bank of America Trends in Consumer Mobility Report released Thursday. The report, which surveyed more than 1,000 U.S. adults who have a banking account and a smart phone, found that 36% of all respondents use a P2P payments …
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10 May
Eye on Earnings: Green Dot’s Key Card Metrics Grow; CardConnect’s Volume Rises 23%
Prepaid card program manager Green Dot Corp. reported higher purchase volumes and card numbers in the first quarter while merchant acquirer CardConnect Corp. posted a 23% increase in bank card dollar volume. Purchase volumes on Pasadena, Calif.-based Green Dot’s cards totaled $5.5 billion, up 17% from $4.71 billion in 2016’s …
