Digital Transactions Authoritative, insightful and timely information for payments professionals
• Processor Vantiv Inc. reported its Merchant Services unit increased net revenue in the quarter ended Dec. 31 14% to $412 million from $363 million in the year-ago quarter on a 13% rise in transactions and 1% increase in net revenue per transaction. For all of 2016, Merchant Services’ net revenue jumped …
February, 2017
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1 February
Vantiv Views Moneris as Key To Growing Integrated Payments Volume
By Kevin Woodward@DTPaymentNews Vantiv Inc.’s
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1 February
The CFPB Orders Mastercard, UniRush To Pay $13 Million for 2015’s RushCard Glitch
By Jim Daly@DTPaymentNews The Consumer Financial Protection Bureau on Wednesday announced a consent order that requires Mastercard Inc. and UniRush LLC, program manager of the prepaid RushCard, to pay $10 million in restitution to cardholders and a $3 million civil fine as a result of an October 2015 processing glitch …
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1 February
A Higher Gear for Dashboard Commerce
It was only a matter of time before the 120-year-old automobile became a payments device. At the 2017 CES, a consumer electronics exhibition in Las Vegas, American Honda Motor Co. Inc. early last month demonstrated an in-vehicle payments system for parking and paying for fuel. Honda held the demonstration in …
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1 February
Remote Fraud Set To Dethrone Counterfeiting
Counterfeiting is still the king of U.S. payment card fraud, according to the Federal Reserve’s recently released Payments Study 2016, but probably not for long thanks in part to the coming of EMV chip cards and the aftereffects of data breaches. Counterfeit fraud accounted for 44% of U.S. payment card …
January, 2017
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31 January
Mastercard Expects To Continue Growing Despite Political Turbulence in the U.S.
Mastercard Inc.’s key operating and financial metrics all grew in the fourth quarter, and president and chief executive Ajay Banga on Tuesday said he expects them to continue growing despite the political turbulence created by President Donald Trump’s new administration. In the United States, total fourth-quarter credit and debit card …
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31 January
iPayment Revises Financial Deal and other Digital Transactions News briefs
• Merchant acquirer Square Inc. announced a promotion that waives processing costs for small businesses on more than $12,000 in Apple Pay charge volume. It will give free processing on Apple Pay transactions for small-business customers that enroll this year in a promotion that includes purchase of Square’s contactless and EMV chip card reader …
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31 January
Apple Reports Record iPhone Sales And Hints at Strong Growth for Apple Pay Globally
Apple Inc. reported record quarterly sales Tuesday for its iPhone smart-phone models while chief executive Tim Cook briefly sketched a strong quarter and year for Apple Pay, the Cupertino, Calif.-based computer company’s mobile-payments service. Speaking to analysts in an afternoon earnings call to discuss Apple’s results for the three months …
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30 January
Momentum Is Building for Mobile Wallets Overseas—And Also in the U.S., Report Says
Mobile wallets have struggled in the United States to win consumer adoption and usage, but worldwide the technology is growing smartly. And even in the U.S. market, it’s expected to pick up momentum. That’s according to a report issued Monday by U.K.-based Juniper Research. The firm estimates global payments volume …
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30 January
Eye on Mobile: Vantiv To Resell CardFlight mPOS; USAePay Cinches Certifications
Merchant processor Vantiv Inc. has agreed to offer a mobile point-of-sale platform from CardFlight Inc. The platform, called SwipeSimple, includes an EMV reader, a mobile app for iOS and Android, and a back-office reporting portal. New York-based CardFlight says the devices will be co-branded with Vantiv’s branding and will be …