News

March, 2017

• 13 March

  Chase’s Technology Deal With MCX Is Likely to Boost Chase Pay As CurrentC Declines

  

  The long downward spiral of Merchant Customer Exchange LLC reached another milestone Friday with JPMorgan Chase & Co.’s announcement that it is acquiring technology assets from MCX. The money-center bank will use the technology to help launch its fledgling Chase Pay mobile wallet with more merchants. Waltham, Mass.-based MCX is …
• 13 March

  Decoupled Debit Could Have Prospects for New Growth As Merchants Take Another Look

  

  Decoupled debit programs may yet yield rewards for merchants, especially as they look for ways to circumvent payment networks and spur loyalty among consumers. That’s the take from a new report, “Decoupled Debit: The Start of Mainstream Adoption?” issued by Mercator Advisory Group Inc. Decoupled debit is not a new …
• 13 March

  Payment Data Systems Buys an ISO and other Digital Transactions News briefs

  • Private-equity fund Vista Equity Partners said it would buy Canadian payments and financial software provider DH Corp. (D+H) for C$4.8 billion ($3.6 billion) in cash and merge it with one of its portfolio companies, United Kingdom-based Misys, a software provider for retail and corporate banking. • Merchant processor Payment Data Systems Inc. said …
• 13 March

  Eye on Acquisitions: D+H and Misys To Merge; Payment Data To Acquire Singular Payments

  

  The week started out on a fusion theme when a private-equity firm said it would buy Canadian payments and financial software developer DH Corp. for C$4.8 billion ($3.6 billion) and merge it with one of its portfolio companies, United Kingdom-based Misys, a software provider for retail and corporate banking. Also …
• 10 March

  As a Hostile Congress Tries to Axe Its Prepaid Rule, the CFPB Proposes a Six-Month Delay

  Facing a Congressional effort to overturn its recently released prepaid rule, the Consumer Financial Protection Bureau on Wednesday issued a proposal to delay the rule’s effective date by six months. In the 16-page proposal, the agency suggests moving the effective date from Oct. 1 of this year to April 1, …
• 10 March

  Clearent Completes PAI Merchant Deal and other Digital Transactions News briefs

  • Payments provider Clearent LLC completed its purchase of Payment Alliance International’s Merchant Services Division. The deal expands Clearent’s annual processing volume to $14 billion. • International payment-services provider Planet Payment Inc. reported that it processed a total of 191.6 million settled transactions in 2016, down 16% from 227.5 million transactions in …
• 9 March

  Some Data from Chase May Show How the Fledgling Zelle Could Outrun PayPal’s Venmo

  All eyes in the person-to-person payments business may be on Venmo these days, but a few tantalizing numbers released last week by JPMorgan Chase & Co. could indicate that a new, bank-controlled payments service set to launch this year will literally give PayPal Holdings Inc.’s P2P app a run for …
• 9 March

  Building a Base of Mobile Payers May Require Players To Pay

  

  For mobile-wallet providers, card issuers, and merchants trying to attract consumers to their mobile-payment services, the way to build a base of active customers can be summarized in two words: pay up. New findings from Auriemma Consulting Group based on research with 1,505 payment card holders eligible for mobile-payments programs …
• 9 March

  Dream Payments Eyes U.S. Merchants and other Digital Transactions News briefs

  • Retailer H&M Group said it will encourage its suppliers to pay their workers via mobile money or other digital funds. The initiative is part of the Better Than Cash Alliance, a United Nations-based federation of governments, companies, and organizations fostering digital payments in lieu of cash. Mastercard Inc. and Visa …
• 9 March

  VeriFone Looks to the Future as the U.S. EMV Conversion Takes a Breather

  

  VeriFone Systems Inc.’s North American revenues plunged 30% in the quarter ending Jan. 31 as small and mid-size businesses slowed purchases of VeriFone EMV chip card point-of-sale terminals. But Wall Street took it in stride, and company executives stressed new growth opportunities when they reviewed the leading U.S.-based terminal maker’s …