Digital Transactions Authoritative, insightful and timely information for payments professionals
• Merchant processor iPayment Inc. has agreed to promote acceptance of Samsung Electronics Co. Ltd.’s Samsung Pay mobile-payments service to merchants and resellers. Merchants can receive a merchant kit that includes window decals and other point-of-purchase items promoting Samsung Pay acceptance. Samsung announced its Samsung Pay reseller program in January. IPayment works with more than 150,000 small and medium-size businesses.
• Interac, Canada’s nationwide debit network, announced three more banks have enabled Apple Pay for their Interac debit cards. The three, BMO Financial Group, Scotiabank, and TD Bank, join CIBC and Royal Bank of Canada, which launched Apple Pay for Interac debit last month.
• Yum! Brands Inc.’s Kentucky Fried Chicken subsidiary says it now accepts Android Pay, Apple Pay, and Samsung Pay in some restaurants and expects to complete system-wide adoption of the mobile wallets in its approximately 4,300 U.S. stores by the end of summer.
• Payment processor i3 Verticals LLC has acquired Axia Payments LLC, a 17-year-old processor for government and non-profit organizations as well as businesses. The addition of Axia brings i3 Verticals’ annual run rate to $10 billion in volume. Terms were not disclosed.
• Payments validation and testing lab FIME has been sold to Chequers Capital for an undisclosed amount. Orange Group had owned FIME since 2007.
• Payments-technology provider ACI Worldwide Inc. launched an updated version of its UP eCommerce Payments service.
• Uphold, a virtual funds and commodity platform, now enables users to conduct transactions with Ethereum, a blockchain service.
• Proposals from the Bank of England and other financial institutions could hold U.K. customers responsible for fraud committed against their accounts, an action that could spark yet more fraud, according to a cybersecurity expert.
