Digital Transactions Authoritative, insightful and timely information for payments professionals
The United States remains one of the world’s last bastions of the paper check, a situation a startup called Checkbook Inc. sees as a massive opportunity. The Sunnyvale, Calif.-based company has been working for the last two years on a system that it says allows businesses and individuals to use …
July, 2016
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26 July
FIS Reports 43.5% Revenue Increase and other Digital Transactions News briefs
• Q2 Holdings Inc., a vendor of virtual-banking solutions to regional and community financial institutions, announced its plan to begin supporting the origination of same-day automated clearing house transactions on Sept. 23, the day the first phase of a three-phase introduction of same-day ACH is set to begin, as determined …
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25 July
Visa’s Scharf Feels No Love for the ACH, But Is His Sentiment Based on the Facts?
Visa Inc.’s disdain for the automated clearing house as a competing payments network has been a given for years, but never did it come into focus more than it did last week when the giant card network announced its wide-ranging agreement with PayPal Holdings Inc. The deal smoothed over a …
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25 July
Meta Financial Doubles Financial Metric and other Digital Transactions News briefs
• Processor Vantiv Inc. launched the One Network Experience service for software developers. Dubbed O.N.E., the service offers a suite of integration tools, personalized help, and access to an online developer community. • Meta Financial Group Inc. said Meta Payment Systems, a division of MetaBank, a major prepaid card issuer, …
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22 July
Making up for Lost Time, the U.S. Rockets to No. 1 Chip Card Market for Visa
The United States may have been late to the EMV party, but U.S. credit and debit card issuers pushing out EMV chip cards have helped make the country the number-one market for EMV plastic, according to the latest figures from Visa Inc. As of June 30, Visa chip cards totaled …
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22 July
MasterCard Eyeing China and other Digital Transactions News briefs
• MasterCard Inc. is mulling an application to become a licensed payment service provider in China, a massive payments market dominated by state-owned China UnionPay, according to Reuters. • agreement with Visa Inc. that includes promotion of Visa cards and a new point-of-sale thrust for PayPal. Visa was trading at …
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21 July
Eye on Earnings: Visa Europe Acquisition Crimps Visa Inc.’s Profit; PayPal Volumes Grow
Visa Inc.’s combined U.S. credit and debit card purchase volume grew nearly 10% in the quarter ending June 30, but the payment network’s net income plunged 76% mainly because of its costs to acquire Visa Europe. PayPal Holdings Inc., meanwhile, saw its volumes and bottom line increase in the second …
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21 July
A Sweeping Deal With Visa Allows PayPal To Make Another Run at the Physical POS
For years, PayPal Holdings Inc. has struggled to bring its popular online payment product to the physical point of sale, and now a deal announced Thursday with Visa Inc. may help the company finally realize that ambition. The sweeping, multiyear agreement could also represent a thaw in what have often …
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21 July
AmEx’s $2 Billion Profit and other Digital Transactions News Briefs
• American Express Co. reported $2 billion in net income for the second quarter, including a $1.1 billion pre-tax gain from the sale of its Costco Wholesale Corp. cobranded portfolio to Citigroup Inc., which is now issuing a cobranded
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21 July
Visa Notes 326 Million U.S. Chip Cards and other Digital Transactions News briefs
• American Express Co. reported $2 billion in net income for the second quarter, including a $1.1 billion pre-tax gain from the sale of its Costco Wholesale Corp. cobranded portfolio to Citigroup Inc., which is now issuing a cobranded Costco Visa credit card. AmEx’s U.S. card-billed business grew 2% year …