Digital Transactions Authoritative, insightful and timely information for payments professionals
- A group of 16 European banks said they plan to launch a “truly European” unified payments system by 2022 that would be an alternative to Visa and Mastercard, Reuters reported.
- The slowdown in in-store shopping due to the Covid-19 pandemic has caused some stores to run out of coins; most recently big-box grocery chain and retailer Meijer suspended cash payment at self-checkout lanes, though the chain’s staffed lanes still accept cash. Retail trade groups are pressing federal banking regulators to address the coin shortage.
- Credit union service organization PSCU completed its acquisition of T.K. Keith Co. Inc.’s Primax processing and support business for credit union and community bank card issuers. Terms of the deal were not disclosed. Primax was founded in 1980 as the management company for the New England Bankcard Association.
- Merchant processor Square Inc. released a list of the top 50 cities it says are seeing the most e-commerce adoption in the wake of the Covid-19 pandemic.
- Financial-institution processor Jack Henry & Associates Inc. said it is using behavioral technology from Mastercard Inc.’s NuData risk-control subsidiary to enhance its Banno Digital Platform.
- Mobile-parking app ParkMobile LLC said it will provide payment services at more than 1,100 on-street and off-street spaces in South Orange, N.J. ParkMobile is replacing MobileNOW, which shut down in May.
- The Federal Reserve released a white paper entitled “Mitigating Synthetic Identity Fraud in the U.S. Payment System.”
- The Western Union Co. appointed Joyce Phillips to its board of directors. Phillips is founder and chief executive of EqualFuture Corp. and previously served in executive roles at Australia and New Zealand Banking Group Ltd. (ANZ), American Life Insurance Co., Citigroup, GE Capital, and Western Union.
Related Articles
Check Also
Despite Increasing Ransomware Attacks, Fewer Victims Are Paying
Despite a spike in ransomware attacks, fewer companies are paying ransom demands to free their …