Point-of-sale

February, 2020

• 27 February

  Visa Says Fuel-Pump EMV Upgrades Are ‘Doing Pretty Well,’ But Others Are Skeptical

  

  With just over seven months to go before a crucial liability shift, just how well is the conversion of U.S. gasoline pumps to accept EMV chip cards going? It depends on whom you ask. Visa Inc. says it’s progressing nicely. “I think we’re actually doing pretty well,” Julie Scharff, Visa’s …
• 27 February

  Cafe Settles Surcharging Case and other Digital Transactions News briefs from 2/27/20

  

  A Wichita, Kan.-based restaurant chain will settle for more than $60,000 a case alleging it illegally added 4% surcharges on credit card transactions, The Wichita Eagle reported. Kansas is one of the four states that prohibit credit card surcharging.Big U.S. banks are providing the best payments-acceptance experience for merchants, but non-banks such as PayPal Holdings Inc. and Square …
• 26 February

  Cash App Helps Drive Growth for a Surging Square

  

  Cash App may be turning into the product that ate Square Inc. The company on Wednesday reported a big fourth quarter for the 4-year-old product as officials pointed to a strong performance overall for the full year. “2019 was a very good year for us,” Square chief executive Jack Dorsey …
• 26 February

  Clover Station Pro Debuts and other Digital Transactions News briefs from 2/26/20

  

  Fiserv Inc. announced its Clover unit has launched Clover Station Pro, a cloud-based point-of-sale device featuring a customer-facing countertop display and software specific to quick-service and full-service restaurants on the Clover platform.Elavon Inc., the merchant acquiring unit of U.S. Bancorp, announced the sale of its Mexico-based operations to banking giant Santander …
• 25 February

  Ajay Banga, Architect of Mastercard’s ‘Multi-Rail’ Strategy, Will Step Down As CEO in January

  

  Ajay Banga, chief executive of Mastercard Inc. for the past decade and the strategist who converted what had been mostly a consumer card network into a player in non-card and real-time payments, said Tuesday he will step down Jan. 1 as CEO. He will then assume the role of executive …
• 25 February

  With $70 Million in Fresh Funding, PayRange Is Ready To Displace Cash in Unattended Payments

  

  PayRange Inc. said its recent procurement of $70 million in funding will help accelerate its efforts to displace cash and convert cash-and-coin-only machines to electronic payments. Announced Tuesday, the funding will help with PayRange’s 2020 Consumer Choice Program. That is an effort to convert cash-only machines to electronic payments. Laundry operators, …
• 21 February

  Shopify Joins Libra, Defying a Wave of Defections From the Cryptocurrency Venture

  

  The controversial Libra cryptocurrency project gained a new member Friday with Shopify Inc.’s announcement it will join the Libra Association, the governing body for the fledgling venture. Shopify’s decision comes in the face of a string of eight high-profile defections from the association since October, including decisions by Mastercard Inc., …
• 21 February

  Fiserv Launches PIN-Based Contactless Payments on Nothing More Than Sellers’ Mobile Phones

  

  Fiserv Inc. said this week its First Data unit has performed the first PIN-on-mobile contactless transaction involving only a commercially available mobile device. Observers say the breakthrough could expand the availability of PIN-on-mobile technology significantly by allowing small merchants like food-truck operators and other mobile sellers to accept card payments …
• 20 February

  Ally Financial Agrees to Buy CardWorks, Parent of Major Acquirer Merrick Bank

  

  Ally Financial Inc. announced this week it will buy CardWorks Inc. for $2.65 billion. CardWorks owns Merrick Bank, a major player in merchant acquiring. In the deal, expected to close in the third quarter, Detroit-based Ally says Merrick Bank will merge into Ally Bank. Merrick has approximately $32 billion in …
• 20 February

  Green Dot Dollar Volume Up and other Digital Transactions News briefs from 2/20/20

  

  Prepaid card and banking services provider Green Dot Corp. reported $10.6 billion in gross dollar volume on its products for the fourth quarter, up 8% year-over-year. Green Dot also announced a multi-year extension of its contract with Apple Inc. for issuing the Apple Cash card.ATM network operator Cardtronics plc said Amazon.com customers can now add cash to …