Transaction Processing

By John Stewart @DTPaymentNews It’s no secret the U.S. point of sale is undergoing perhaps the most extensive overhaul in its long and storied history, but now there’s evidence that a crowd of technology startups are sharing in the bounty that sweeping modernization is generating. Point-of-sale startups will likely reap …

Implementing so-called chip-and-PIN authentication for U.S. credit cards would cost merchants and card issuers more than $7 billion but prevent only about $850 million in lost-and-stolen card fraud over five years, a new report from Aite Group LLC says. The report, “Chip Cards in the United States: The PIN, PINless, …

Card-brand efforts to improve consumers’ perceptions of EMV transaction speeds took a step ahead this week when a grocer debuted updated EMV software on its point-of-sale systems. New Seasons Markets, including its New Leaf Community Markets unit, is now using the Quick Chip and M/Chip Fast technologies from Visa Inc. …

By Kevin Woodward@DTPaymentNews Early Warning Services LLC announced Tuesday that both Visa Inc. and MasterCard Inc. are now part of its clearXchange peer-to-peer network. The addition of the two largest card brands means customers of participating financial institutions will be able to send money to others using a U.S.-issued debit …

By Kevin Woodward@DTPaymentNews Criminals stepped up their attacks on e-commerce sites in the second quarter, producing more than 69 million rejected transactions, a stunning 90% increase from the same quarter a year ago, according to the Q2 2016 Cybercrime report recently released by ThreatMetrix. Of these transactions, 23% were payments, …

By Jim Daly@DTPaymentNews Most of First Data Corp.’s cylinders fired on cue in the second quarter, but its U.S. small and mid-size business customers again proved to be drag on revenue growth. In response, the giant payment processor is holding off on merchant price increases and ramping up service, its top brass …

http://www.nxtbook.com/nxtbooks/dt/201608/

• For its second quarter ended June 30, MoneyGram International Inc. reported transactions on its digital money transfer service grew 9% and accounted for 15% of all money-transfer transactions handled by the company. Revenue for the service increased 17% and accounted for 13% of overall money-transfer revenue. • Because of …

The shock waves generated by Visa Inc.’s new deal with PayPal Holdings Inc. reached MasterCard Inc. on Thursday, with chief executive Ajay Banga hailing the agreement while parrying questions from analysts about its possible effect on a fee MasterCard imposed in 2013 to deal with PayPal and other digital wallets that rely on …

The $4.3 billion merger of Global Payments Inc. and Heartland Payment Systems Inc. appears to be paying off. Atlanta-based Global Payments released its fiscal fourth-quarter and year-end results Thursday. For the year, which ended May 31, total revenue of $2.9 billion was up 4.5% from $2.8 billion in the prior year. …