Transaction Processing

By John Stewart @DTPaymentNews Stripe Inc.’s latest funding round, in which the privately held San Francisco-based company nearly doubled its valuation to $9.2 billion, shows what startups can do if they’re innovating in the right sector of payments, experts say. Just six years old, Stripe provides tools for payments online …

By Kevin Woodward@DTPaymentNews U.S. shoppers flooded into stores and online this past weekend—Macy’s Web site crashed on Black Friday from the crush—to find holiday gift deals, with many putting their chip cards to use, though e-commerce spending, where the fraud-prevention feature of the chip is immaterial, continues to increase. In …

• Processor Jack Henry & Associates Inc. will resell the Zelle person-to-person payments service to its financial-institution clients under a new agreement with Zelle’s owner, Early Warning Services LLC. • Affirm Inc., whose technology allows consumers to pay over time for online purchases, said it is now integrated with four new e-commerce …

By Kevin Woodward@DTPaymentNews New York-based iPayment Holdings Inc. has named O.B. Rawls IV chief executive and president and charged the veteran payments executive with guiding the payments company’s plans to increase sales . Rawls, whose prior experience includes First Data Corp., also joins the iPayment board of directors. He has …

By Jim Daly@DTPaymentNews Perhaps when he’s not tweeting, President-elect Donald J. Trump will get around to reading the letter the Electronic Transactions Association sent to him Monday outlining payments-industry proposals for Congress and federal regulators once Trump’s administration takes over in January. “ETA encourages your administration to create a policy …

• The U.S. District Court for the Eastern District of Pennsylvania issued final approval of a $37.5 million settlement in a class-action case, Reyes v. Zions First National Bank, attorneys for the class announced. In the case, plaintiffs alleged Zions Bank and a former payment-processing subsidiary knowingly handled payments for fraudulent …

Sports and entertainment venue operator The Madison Square Garden Co. (MSG) on Tuesday disclosed a nearly year-long breach of payment card information involving customers who bought concessions at five of its venerable properties. And a new study from Federal Reserve researchers makes six recommendations for improving mobile-payments security, one of …

Terminal maker Ingenico Group introduced its first Android-based mobile point-of-sale payment device, the APOS. The portable terminal includes a front and rear camera and accepts payments based on EMV, mag-stripe, and near-field communication. Cubic Transportation Systems announced it has been awarded a $4.8 million contract modification from the Maryland Transit …

Visa Inc. disclosed Tuesday that it has modified its chip debit card transaction-routing policies in the wake of the increasing governmental scrutiny the largest payment card network’s routing practices have attracted since EMV chip cards took hold in the U.S. beginning last year. A key change assures merchants that they …

• Payments-services provider ACI Worldwide Inc. said it expects the rate of attempted online fraud in the United States during the holiday shopping season will increase 43% over the same period last year, based on transaction data it has seen so far. This increase follows U.S. adoption of EMV cards at the …