Friday , November 15, 2019

Transaction Processing

Eye on Acquiring: Repay’s Card Volume up 40%, and Usio and Net Element Report Earnings

In its first full quarter as a public company, Repay Holdings Corp. said its card-payment volume of $2.6 billion was a 40% increase over the 2018 third quarter. Payments providers Usio Inc. and Net Element Inc. also reported their earnings results. Atlanta-based Repay, which acquired APS Payments and TriSource Solutions …

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Could a Move in the German Parliament Break Apple’s Hammerlock on the NFC Chip?

Ever since Apple Pay debuted in 2014, Apple Inc. has kept the near-field communication chip in its devices off-limits to payment apps from other companies. But now legislation has appeared in Germany that may force the computing giant to grant access to that all-important chip, which allows Apple phones and …

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Integrated Payments Help Priority Technologies Move Beyond Subscription Billers

Merchant processor Priority Technology Holdings Inc. posted an 11% increase in payment volume in the third quarter despite the wind-down of its once-sizable processing business for online subscription billers. Alpharetta, Ga.-based Priority said it processed $10.8 billion in merchant bank card volume versus $9.71 billion in 2018’s third quarter, on …

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How Bill Pay Could Prove To Be a Tempting Target for the New Google Checking Accounts

Now that Google Inc. is making a play for the heart of payments—the checking account—some observers see the strategy’s first fruit as likely to be a move into a massive market long controlled by banks and service providers. “It’s huge,” Krista Tedder, director of payments at Javelin Strategy & Research, …

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FTC Probes Debit Routing and other Digital Transactions News briefs from 11/14/19

The Federal Trade Commission has started a preliminary inquiry into whether Visa Inc., Mastercard Inc., and large debit card issuers are blocking merchants from routing transactions over PIN-debit networks, the Bloomberg Law news service reported, citing anonymous sources. FTC investigators reportedly have contacted merchants and their trade groups, Bloomberg Law said. Spokespersons for …

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PCI Compliance Drops for the Second Year in a Row, Verizon Reports

Compliance with the Payment Card Industry data-security standard remains an elusive goal for many merchants and other organizations that handle general-purpose payment card data. In fact, compliance fell in 2018 for the second year in a row, according to Verizon Communications Inc. Verizon’s newly released Payment Security Report says only …

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Facebook Pay Could Dominate Facebook’s Apps, But That’s Not Likely to Stymie Rival Wallets

With Facebook Inc.’s launch Tuesday of Facebook Pay, the social-media giant may feel somewhat assured that many of its 1.6 billion daily users will at least try the new wallet when making purchases in one of the company’s social networks. But that does not mean the rest of the payments …

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Boost in Chase Deal and other Digital Transactions News briefs from 11/13/19

Boost Payment Solutions Inc., an acquirer for commercial card transactions, said it is collaborating with JPMorgan Chase & Co. to process payments and automate delivery for Chase’s Single Use Card Accounts and other commercial cards.Cardlytics Inc., which derives marketing intelligence from purchase data, reported a 116% year-over-year increase in monthly …

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Xoom Turns to Euronet’s Ria And Walmart to Enable Cash Transfers in the United States

As peer-to-peer payments services like Cash App, Venmo, and Zelle grow in popularity in the United States, some observers fret that underserved populations are being left behind. PayPal Holdings Inc.’s Xoom money-transfer service said Tuesday it’s attacking that issue in a collaboration with Walmart Inc. and Euronet Worldwide Inc.’s Ria remittance …

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Big Retailers Anticipate FedNow Will Bring Competition to Payments

A retail trade association as well as Target Corp. have endorsed the Federal Reserve’s planned FedNow real-time gross settlement service. In a letter posted last week on the official FedNow comment site, the Washington, D.C.-based Retail Industry Leaders Association said “over the past decades RILA has seen competition and innovation …

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