Transaction Processing

Avnet Inc., a technology supplier for industries as diverse as automotive, communications, energy, and wearables, quickly has found that accepting Bitcoin via BitPay Inc. is a hit, especially with the Bitcoin mining industry. Atlanta-based BitPay announced this week that Phoenix-based Avnet uses it for Bitcoin and Bitcoin Cash transactions. With …

Merchant processor Priority Technology Holdings Inc.’s fourth-quarter revenues fell by $19.5 million, a drop of 16.5%, in the face of a new Mastercard Inc. rule change tightening consumer notices on subscription billings. “This decline was being driven by one factor and one factor only,” Priority chairman and chief executive Thomas …

As more and more companies adopt tokens as a proxy for the primary account number and other sensitive payment data, the day is fast approaching when the utility of the technology will move beyond the payments box. That’s the forecast from Nate Morgan, senior director for product management at CyberSource, …

As if the announcement of its pending merger with Fidelity National Information Services Inc. wasn’t enough news for one week, Worldpay Inc. on Wednesday said it will acquire Amazon Pay transactions for online merchants. The news means Cincinnati-based Worldpay has become the first merchant acquirer to work with the retailing …

So-called shoppable ads could get a big boost if a tap-and-buy test announced Tuesday by Facebook Inc.’s Instagram social network succeeds, a test in which PayPal Holdings Inc. is the payment processor. Other social networks and Internet sites have rolled out or begun testing shoppable ads, including Pinterest, Snap Inc.’s …

Fifty-nine percent of consumers cited the ability to pay quickly as a reason they use peer-to-peer payments apps, according to a survey of more than 380 consumers from Tallwave, a digital-services firm. More than 65% have used PayPal and 37% have used Venmo, PayPal’s P2P payment service. Verifi Inc. launched …

The other shoe has dropped. Fidelity National Information Services Inc.’s $43-billion cash-and-stock deal to acquire Worldpay Inc., announced early Monday, will create a processing behemoth that will compete globally across a sweeping range of payments businesses, including merchant acquiring, e-commerce, faster payments, and core processing. And though the bosses of …

Close observers of the payment-processing industry predicted Fiserv Inc. would start a merger wave when it announced its $22 billion deal to acquire First Data Corp. in January. That prophecy seems to have come true with the even bigger $43 billion FIS-Worldpay merger announced Monday, and the consolidation wave probably hasn’t …

SpotOn Transact LLC said it will integrate Poynt Inc.’s smart point-of-sale terminal into its platform. SpotOn said it is the first to work with Poynt to integrate loyalty, marketing, and POS software directly into the terminal hardware. Synchrony Financial expanded the merchant categories eligible to accept its Synchrony Car Care …

In a time when criminal access to consumer data has never been more common, merchants continue to experience pervasive and persistent fraud attempts. That’s the key takeaway from the 2019 sixth annual Fraud Attack Index from Forter Inc. released Thursday. How bad is the problem? Fraud grew in 2018 in …