News

January, 2017

• 13 January

  Chase’s Merchant-Processing Volume Passed the $1 Trillion Mark in 2016

  

  By Jim Daly @DTPaymentNews JPMorgan Chase & Co.’s merchant-processing subsidiary surpassed $1 trillion in payment volume last year, the New York City-based banking giant reported Friday. Chase Commerce Solutions, the No. 2 U.S. merchant acquirer after First Data Corp. and the biggest acquirer owned by a banking firm, posted merchant-processing …
• 13 January

  BofA Card Volume Increases 4% and other Digital Transactions News briefs

  • Bank of America Corp. reported combined credit and debit card purchase volume of $134.3 billion in the fourth quarter, up 4% from $129.5 billion a year earlier and up 6% when adjusted for earlier divestitures. • Wells Fargo & Co. reported debit card purchase volume of $78.4 billion in the fourth …
• 12 January

  As P2P Heats up, Nearly Half of U.S. Consumers Are Expected To Adopt the Service by 2021

  By John Stewart @DTPaymentNews Bank and non-bank players alike are scrambling to claim a share of the peer-to-peer payments market, and a report released this week explains why: adoption is hot and getting hotter. Slightly more than one-third of U.S. consumers made at least one transaction last year, up from …
• 12 January

  Wal-Mart’s New Android Version of Scan & Go May Signal Wider Appeal of Self-Checkout

  

  Wal-Mart Stores Inc. has released an Android version of its Walmart Scan & Go self-checkout app that consumers use on their smart phones. This version joins the iOS app currently being tested at a single Wal-Mart store in Rogers, Ark., and could indicate consumers are increasingly embracing the self-checkout concept just …
• 12 January

  Operation Choke Point Hard To Justify, Sessions Says, and other Digital Transactions News briefs

  • More than 100 new merchants have signed a letter to U.S. House of Representatives leaders, bringing the total to 768 since the letter began circulating in November, urging them not to repeal the Dodd-Frank Act’s Durbin Amendment, which put a cap on debit card interchange and set debit transaction-routing requirements. Dodd-Frank is …
• 11 January

  A POS Points Redemption App from VeriFone Widens Its Reach in a Deal With FIS

  

  By John Stewart @DTPaymentNews If loyalty programs are the key to boosting usage of new payments methods like mobile wallets, ease of rewards redemption could be even more critical. On Wednesday, terminal maker VeriFone Systems Inc. took a step in that direction by expanding the reach of its Points Redemption …
• 11 January

  Mobile-Payments Tech Provider iZettle Raises $63 Million and Appoints New CFO

  

  By Jim Daly @DTPaymentNews Stockholm-based mobile-payments technology provider iZettle AB, which operates in Europe and Latin America, reported Wednesday that it raised €60 million ($63 million) in a new funding round in which an affiliate of Chicago-based Victory Park Capital participated. The financing consists of equity from existing investors in …
• 11 January

  Supreme Court Divided on Surcharge Case Merits and other Digital Transactions News briefs

  • The U.S. Supreme Court seems divided over whether New York’s ban on credit card surcharges is a form of speech regulation as a group of merchants challenging the state’s anti-surcharge law assert, Reuters reported. The National Retail Federation said the case is about “being able to show the cost of using …
• 10 January

  NovoPayments Launches Chatbot Capability and other Digital Transactions News briefs

  • Independent sales organization Applied Merchant Systems announced it has increased its liquidity following  an expansion of its credit line with Goldman Sachs Specialty Lending Group and Business Development Corporation of America. In conjunction, Blue Square Resolutions, also an ISO, became a shareholder in the company. • Miami-based NovoPayments, which processes payments throughout …
• 10 January

  It’s a Higher Gear for Dashboard Commerce As Honda And Visa Test In-Car Payments

  

  The 120-year-old automobile is getting a payments makeover. Automaker American Honda Motor Co. Inc. last week demonstrated an in-vehicle payments system for parking and paying for fuel at the 2017 CES, a consumer electronics exhibition in Las Vegas. Honda held the demonstration in conjunction with Visa Inc., Gilbarco Veeder-Root, which …