Transaction Processing

In the hours after credit-reporting giant Equifax Inc. disclosed a massive data breach, consumers and businesses were left scrambling Friday to piece together the implications. But a range of consequences could affect Equifax itself as the Atlanta-based company struggles to recover from an epic hack that affected potentially 143 million …

VeriFone Systems Inc. is getting closer to a sale of its payments service for taxis, the company announced Thursday during its third-quarter earnings call. Announced in June, the divestiture of the taxi business, which VeriFone started 12 years ago, is in an active process, Paul Galant, chief executive, told analysts …

Bank-owned Early Warning Services LLC said its new Zelle person-to-person payment service processed 100 million transactions in 2017’s first half for payments totaling $33.6 billion. More than 50,000 consumers are enrolling daily in a network that could connect 86 million consumers through the mobile-banking apps of participating banks and credit unions, Early Warning …

Square Inc. will apply for a Utah industrial bank charter today, a move that will extend the merchant processor’s move into lending and one which could draw the opposition of banks. The bank will be capitalized with $56 million, according to The Wall Street Journal. The financial operation will be …

Francisco Partners, a private-equity fund, has made an investment in Network Merchants Inc., a provider of payments technology and gateways to merchants and independent sales organizations. The unspecified investment is said to be “substantial.” Consequent to the deal, existing investor Bregal Sagemount will exit, and existing investor Great Hill Partners will …

The Federal Reserve issued a report on Wednesday that indicates the nation’s central bank could play a much more active role in faster payments than many have expected, up to and including providing alternative processing services. Up to now, the Fed has limited its role to sponsoring working groups that …

The number of EMV chip card-accepting U.S. merchant locations reached 2.3 million in June, up from 2.02 million in March and an increase of 77% from 1.3 million in June 2016, according to new figures from Visa Inc. Visa says in its latest EMV report that half of U.S. storefronts now …

Marketers of integrated, cloud-based point-of-sale systems take note. It’s not enough to have full-featured service replete with multiple functions. It also takes a sales approach that is responsive and knowledgeable. That may sound like common-sense idea, but it’s one that has been vetted by The Strawhecker Group in its “The …

The Federal Reserve issued a paper outlining “refreshed strategies and nine new tactics” for improving the U.S. payment system; the paper is a follow-up to the Fed’s strategic vision for payments issued in January 2015 and comes in the wake of the July report from the Fed’s Faster Payments Task Force. The Federal Trade …

Enthusiasts may lament the slow rate of adoption for mobile payments generally in the United States, but some researchers are forecasting robust growth for contactless payments via mobile wallets at the point of sale. In a recent report, New York City-based research firm eMarketer said so-called proximity mobile payments will exceed $1,000 …