Transaction Processing

The ATM EMV conversion is only partly done, and now deployers are beginning preparations for Windows 10 only a few years after upgrading to Windows 7. ATM deployers can take solace in the fact that their EMV upgrades are going faster than merchants’ conversion to chip card acceptance. But lest …

The same U.S. banks that have retarded progress in digital payments shouldn’t be entrusted with anything approaching a monopoly on implementing real-time payments systems, says Mark Horwedel. Lately, the Federal Reserve Board has been shepherding a cross-industry effort to build a faster, more efficient, and more secure payments system in …

The global chip card standard known as EMV became a reality for U.S merchants, acquirers, and issuers in October 2015. That’s when the liability for counterfeit card transactions at the point of sale shifted, by network rules, from issuers to merchants if the merchants weren’t prepared to accept EMV cards. …

Whatever their personal feelings are about marijuana usage, the growth of the legal cannabis industry in many states will force bankers and payments executives to examine the business prospects of serving that industry, according to an executive with a regional automated clearing house association. While marijuana remains illegal under federal …

Merchants and card issuers have been hearing for several years that the advent of EMV chip cards at the point of sale in the United States would drive fraud into card-not-present channels, and now evidence is emerging that this is happening with a vengeance, even with companies like airlines that …

• Processor Total System Services Inc. (TSYS) reported its revenues grew 60.2% year-over-year in the first quarter, to $1.2 billion from $739.4 million. Net income attributable to common shareholders was $105.9 million, up 16.8% from $90.6 million. For 2017, the company is raising its total revenue and net revenue guidance by …

As the U.S. payments industry prepares to adopt real-time payments, supporters are readying their services. The latest entry is the duo of Fidelity National Information Services Inc. (FIS) and The Clearing House Payments Co. LLC, which announced Tuesday an incubator in which banks and credit unions can take their first …

• Merchant processor Elavon Inc. announced it has added online storefront technology from 3dcart for e-commerce merchants and online-ordering capability for the talech point-of-sale tablet. • Peer Ledger, a Canadian blockchain company, said a study it conducted shows digital identity can be tied to the blockchain, the technology underlying cryptocurrencies such as Bitcoin. …

• Payment technology provider ACI Worldwide Inc. said it will make its UP Immediate Payments service available to financial institutions and credit unions of all sizes. • Merchant processor Global Payments Inc. renewed its contract with Caesars Entertainment Corp. • In a Mastercard Inc. promotion, consumers who use a Mastercard credit, debit, or prepaid card at a …

Firms and financial institutions that have been using the automated clearing house network’s new same-day settlement system are generally upbeat about it, but the new regime is being implemented in phases, and the next phase, due in September, brings with it some misgivings. That’s when ACH debits will start to …