Digital Transactions Authoritative, insightful and timely information for payments professionals
Retailers and restaurants have a higher degree of awareness about EMV and its accompanying liability shift than other merchant types, finds the Paychex Small Business Survey, released Tuesday. In the survey of more than 760 small-business owners between Oct. 14 and Oct. 27, 69% of those in retail and restaurants …
Read More »Mum About the Details, MCX’s Mooney Hints at ‘Plans on the Table’ Beyond Chase Deal
By John Stewart Last month, the spotlight shone on Merchant Customer Exchange LLC when JPMorgan Chase & Co. officially unveiled its Chase Pay wallet, set to launch next year, and said it will be included in MCX’s merchant-controlled CurrentC application. But, as big as that deal is for MCX, the …
Read More »Square Low-Balls Its IPO, but Shares Pop on First Morning of Trading
By Jim Daly Merchant processor Square Inc. priced its initial public offering of stock late Wednesday at $9 per share, about 25% lower than it had hoped for, but positive investor sentiment lifted the stock Thursday morning in its first day of trading on the New York Stock Exchange. Square …
Read More »Cinnabon Adding Revel Systems POS Tablets With EMV And Apple Pay Acceptance
Treat retailer Cinnabon is installing iPad-based point-of-sale systems made by Revel Systems Inc. in anticipation of the EMV migration. The devices also will enable Apple Pay acceptance, Revel Systems announced Wednesday. In addition to EMV and mag-stripe cards, Revel Systems devices also accept near-field communication (NFC) payments made with Apple …
Read More »Forget the Checkout, Many Consumers Would Rather Pay in Line Than Wait in Line
By Kevin Woodward It’s that time of year when shopper impatience tends to flare, especially when scores of consumers are waiting in long checkout lines. According to a new survey from merchant-services provider Harbortouch, many consumers are willing to try something new to alleviate their displeasure with lines. A majority …
Read More »Card Manufacturer CPI Card Group’s Chip Card Orders Boom During EMV Switchover
As it has for other suppliers to the payment card industry, the conversion of U.S. card payments from security-challenged magnetic-stripe cards to the EMV chip card standard is providing a windfall for leading U.S.-based card manufacturer CPI Card Group Inc. In its first earnings report as a publicly traded company, …
Read More »Blackstone Invests $820 Million in NCR, but Will the Deal Enhance NCR’s Competitiveness?
Leading U.S.-based ATM manufacturer NCR Corp. announced Thursday that affiliates of private-equity firm The Blackstone Group L.P. will invest $820 million into the company for a 17% stake. NCR says it will use the investment to help fund a $1 billion share repurchase and speed its transformation into an integrated …
Read More »Data About First Data Show Transaction Growth but Profitability Issues Remain
A filing Tuesday by First Data Corp. in the wake of its recent initial public offering of stock paints a picture of a payment processor growing in many areas but still carrying a heavy debt load and challenged on profitability. The filing, Atlanta-based First Data’s quarterly report to the Securities …
Read More »Green Dot Continues Clawing Back From Its MoneyPak Closure
Prepaid card issuer and services provider Green Dot Corp. on Thursday said it is over the hump of business lost when it closed its popular MoneyPak reload product early this year. MoneyPak was a long-established product that Pasadena, Calif.-based Green Dot sold in stores to enable the reloading of prepaid …
Read More »For Visa, Electronic Payments Produce a River of Cash
Visa Inc. may be in the business of credit and debit cards, mobile wallets, tokenization, EMV chips and virtually anything involving electronic payments, but its latest financials tell the real story—it’s all about cash. On a day dominated by news of its pending $23 billion takeover of Visa Europe, Visa …
Read More »