Digital Transactions Authoritative, insightful and timely information for payments professionals
The big wire-transfer providers The Western Union Co. and MoneyGram International Inc. continue to develop their digital services as their agent-based business models struggle in a fast-changing market against rising online players. The two firms on Thursday both reported declining revenues in the third quarter, but Western Union made money …
November, 2019
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1 November
Google To Buy Fitbit and other Digital Transactions News briefs from 11/1/19
Google Inc. agreed to acquire Fitbit Inc., producer of smart watches and the Fitbit Pay contactless-payment service, for approximately $2.1 billion. Fitbit has sold more than 100 million devices in its 12 years in business. Google, whose Google Pay mobile-payment service has been in the market since 2015, is part of Alphabet Inc. The …
October, 2019
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31 October
How Cash-Out Attacks Are Becoming the Next Big Worry for ATM Operators
Payments executives are starting to go public with concerns about a growing type of ATM fraud called the cash-out attack. Unlike the well-known, single-machine attack known as jackpotting, cash-out frauds allow criminals to gain access to multiple machines simultaneously at the network level. They then employ accomplices to visit these …
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31 October
With TSYS Now Under Its Wing, Global Payments Expands in Canada With Desjardins Acquisition
Total System Services Inc. (TSYS) officially became part of Global Payments Inc. only on Sept. 18, but the massive task of stitching two large payment processors together didn’t stop Global from buying yet another financial institution’s merchant portfolio. Global announced Thursday that it will acquire the entire 40,000-merchant file of …
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31 October
Cardtronics Experiences Revenue Increase and other Digital Transactions News briefs from 10/31/19
ATM network operator Cardtronics plc reported revenues of $351.5 million for the quarter ended Sept. 30, up 3% year-over-year. ATM operating revenues totaled $333.4 million, up 1%. The company reported agreements in the quarter to place more than 1,000 ATMs, as well as a renewal and expansion of its agreement with leading …
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30 October
After the ‘Most Successful Launch’ Ever, Apple Enlists Its New Credit Card To Boost Flagging iPhone Sales
Apple Inc. chief executive Tim Cook reiterated Wednesday what his counterpart at The Goldman Sachs Group Inc. said two weeks ago: the Apple Card’s debut was the most successful launch of a credit card in U.S. history. Cook didn’t provide numbers, though he did announce a no-interest promotion when the …
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30 October
Kroger Subsidiaries End Visa Credit Card Boycott, but Terms of Their Accord Are a Secret
Two subsidiaries of The Kroger Co. have ended their boycott of Visa credit cards that started 14 months ago over acceptance costs, but it’s unknown if Visa granted the grocery-store giant any fee reductions. Local media outlets in the West reported Wednesday morning that Visa credit card acceptance had resumed …
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30 October
Green Dot Extends Pact With Walmart, And Both Firms Will Collaborate on a Fintech Lab
Walmart Inc. and Green Dot Corp. reported Tuesday they have extended the prepaid program manager’s agreement with the giant retailer for another seven years, assuring that Green Dot will continue to serve as the issuing bank and manager for the Walmart MoneyCard program. Walmart says the new contract begins Jan. …
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30 October
Kroger Lifts Visa Ban and other Digital Transactions News briefs from 10/30/19
The Kroger Co. lifted its acceptance ban on Visa credit cards at its Smith’s Food & Drug and Foods Co subsidiaries, according to news reports. Kroger, citing what it called high acceptance costs, first banned the cards at its small Foods Co chain in August 2018 and extended it to the larger Smith’s …
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30 October
EMVCo Is Eyeing Some New Initiatives for EMV 3-D Secure 2.0
While much attention in the payments industry in recent months has focused on EMVCo’s Secure Remote Commerce (SRC) specification, another e-commerce spec from the standards body could be receiving some tweaks. These possible initiatives, which concern the EMV 3-D Secure specifications, include a way of adding users’ travel data to …