News

August, 2016

• 8 August

  The Feds Set Their Fifth Bitcoin Auction; Expect More in the Future

  

  By Jim Daly@DTPaymentNews The notion of the federal government auctioning off Bitcoin seized in drug busts and other actions looks like it’s an idea with some staying power. The U.S. Marshals Service on Monday scheduled yet another auction of the virtual currency in the wake of the four it conducted …
• 5 August

  Funding Data Confirms It: In-Store Tech Is Exploding As the Point of Sale Modernizes

  

  By John Stewart @DTPaymentNews It’s no secret the U.S. point of sale is undergoing perhaps the most extensive overhaul in its long and storied history, but now there’s evidence that a crowd of technology startups are sharing in the bounty that sweeping modernization is generating. Point-of-sale startups will likely reap …
• 5 August

  Green Dot Doubles 2Q Profit and other Digital Transactions News briefs

  • Prepaid card provider Green Dot Corp. reported that second-quarter net income more than doubled from a year earlier to $7.78 million on a 2% increase in operating revenues to $173.5 million. While Green Dot’s active card count of 4.28 million was down 11% from a year earlier, purchase volume …
• 5 August

  Sage Payments Developer Portal is the go-to platform for ISV and development partners

    Sage Payment Solutions has launched the Sage Payments Developer Portal, an enterprise-level API developer enablement solution. As a collaborative resource, the Sage Developer Portal is the go-to platform that helps ISV and developers quickly integrate payments into their software, mobile application or website. Designed with the needs of software …
• 4 August

  Miami’s Transit Agency Among the First to Ride Contactless Rails from TfL

  

  By Kevin Woodward@DTPaymentNews Consumers using near-field communication (NFC)-enabled payment cards and smart phones enabled with mobile wallets soon will be able to use them to pay for transit rides operated by the Miami-Dade County’s Department of Transportation and Public Works, Cubic Corp. recently announced. The contract is valued at $33 …
• 4 August

  PayNearMe Strikes Comcast Payment Deal and other Digital Transactions News briefs

  • The Wells Fargo/Gallup Small Business Index found that checks, at 90%, and cash, at 72%, continue to reign as the top payment methods accepted by small businesses. A printed check from a bill-pay service was next, at 53%, followed by credit or debit card at a point-of-sale terminal, 42%, …
• 3 August

  Credit Card Chip-and-PIN Would Be a Multi-Billion-Dollar Loser, Report Suggests

  

  Implementing so-called chip-and-PIN authentication for U.S. credit cards would cost merchants and card issuers more than $7 billion but prevent only about $850 million in lost-and-stolen card fraud over five years, a new report from Aite Group LLC says. The report, “Chip Cards in the United States: The PIN, PINless, …
• 3 August

  80% of MasterCard Credit Cards Have Chip and other Digital Transactions News briefs

  • Processor Fiserv Inc. will market Early Warning LLC’s clearXchange person-to-person real-time payments network to its financial-institution clients under a new agreement. The deal follows a similar arrangement the companies reached last year for real-time bill payments and deposits. Fiserv also said adjusted second-quarter revenues in its payments segment increased nearly 11% …
• 3 August

  Faster EMV Tech Might Leapfrog the Traditional Spec and Improve Consumer Perceptions

  

  Card-brand efforts to improve consumers’ perceptions of EMV transaction speeds took a step ahead this week when a grocer debuted updated EMV software on its point-of-sale systems. New Seasons Markets, including its New Leaf Community Markets unit, is now using the Quick Chip and M/Chip Fast technologies from Visa Inc. …
• 3 August

  Square Moves Toward Profitability as Its Payment Volume Booms

  By Jim Daly @DTPaymentNews Square Inc. reported Wednesday that its payment volume grew 42% in the second quarter to $12.5 billion, and, while still reporting a loss, the merchant processor edged toward profitability as its adjusted revenues jumped 54%. Square, which began signing merchants in 2010, also raised its financial …