Digital Transactions Authoritative, insightful and timely information for payments professionals
Fiserv Inc. said its First Data unit is piloting PIN-on-mobile technology in Poland, with plans to expand the program to the rest of Europe, the Middle East, Africa, and the Asia-Pacific region. The technology, which allows merchants to accept PINs on off-the-shelf mobile devices, was developed in collaboration with Visa Inc., Samsung Electronics …
February, 2020
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17 February
A German Company Unveils a Checkout Buster That Relies on Breakthroughs in RFID Scanning
As merchants and their technology partners continue to develop technology to ditch the familiar checkout, a German entrant on Monday demonstrated a system that would use radio-frequency identification to charge customers as they walk out with their goods. The system, dubbed “payfree,” involves an app that consumers would install in …
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17 February
Restaurant POS Systems and Payments Provider Toast Raises $400 Million in Expansion Drive
Toast Inc., a software, point-of-sale hardware, and payments provider for restaurants, has raised $400 million in another funding round. The Boston-based firm introduced its first POS device in the spring of 2018, and among its services it acts as a payment facilitator for restaurants. The company says revenue increased 109% in …
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14 February
Ingenico Names New North America Executive and other Digital Transactions News briefs from 2/14/20
Ingenico Group S.A. named Peter Stewart executive vice president of Ingenico North America. Stewart has more than 25 years of experience in the technology industry. A specialist in point-of-sale equipment and processing, Ingenico Group has agreed to be acquired by processor Worldline S.A. in an $8.6 billion deal.CHR Corp., which does business under …
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13 February
With Expanded Merchant Business Thanks to Worldpay, FIS Seeks to Exploit Its Acquiring Chops
When Fidelity National Information Services Inc. closed on its $43 billion acquisition of Worldpay Inc. last summer, the payments industry knew the massive deal would boost FIS instantly into the top ranks of global merchant processors. On Thursday, the company let the world know just how big its position in …
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13 February
WooCommerce Adds CBD-Specific Features and other Digital Transactions News briefs from 2/13/20
E-commerce platform WooCommerce said it is offering CBD-selling merchants new services for monitoring security issues, printing shipping labels, and automatic tax calculation.Acadia POS and merchant-services provider GCG Consulting Inc. said they handled nearly 50,000 transactions on 77 PAX Technology point-of-sale devices at the recent Waste Management Phoenix Open.Business-payments firm Biller Genie said its clients are …
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12 February
The New Global Payments Looks to Value to Offset Impending Visa Rate Changes
News of impending interchange-rate revisions from Visa Inc. may have roiled the payments industry, but for processing giants like Global Payments Inc., the impact will simply be business as usual. Top Global executives made that point crystal clear Wednesday. “We see these [rate changes] all the time. We have to accommodate …
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11 February
RILA Calls for Action on the Fed’s Debit Cap As Powell Testifies Before Congress
Federal Reserve Board chairman Jerome Powell is testifying before Congress this week, and mixed in with questions and answers about interest rates, economic growth, and employment could be queries about when the Fed is going to update its cap on the fees issuers can charge for debit card transactions. At …
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11 February
Mastercard Forms a Joint Venture To Clear Domestic Chinese Card Transactions
Mastercard Inc. is the latest U.S. payments company to take initial steps to operate in China with Tuesday’s announcement it will form a joint venture with NetsUnion Clearing Corp. to establish a domestic bank card clearing entity. The entity formed from the joint venture—Mastercard NUCC Information Technology (Beijing) Co. Ltd.—received …
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11 February
RILA Urges Lower Durbin Debit Cap and other Digital Transactions News briefs from 2/11/20
The Retail Industry Leaders Association issued a statement calling on Congress to press Federal Reserve Board chairman Jerome Powell to “set a true rate” for debit card transactions that would reflect the intent of the Durbin Amendment to the Dodd-Frank Act. The amendment regulates debit card transaction pricing for large issuers. Powell is scheduled …
