Digital Transactions Authoritative, insightful and timely information for payments professionals
Celero Commerce announced two acquisitions, those of Elmhurst Financial Services and Tandem Innovative Payment Solutions. Following the deals—financial terms were not disclosed for either—Celero will have approximately 25,000 merchants and process approximately $10 billion in annual payment volume. Payment Alliance International said it acquired ISA-ECash, an ATM operator and developer …
June, 2019
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17 June
As Facebook’s Libra Provokes A Slew of Questions, An Expert Struggles With the Coin’s ‘Justification’
Facebook Inc. is expected to release details this week, perhaps as early as Tuesday, on its Libra cryptocurrency initiative, but for now what’s known about the project has at least some experts shaking their heads. “Why a cryptocurrency, and why Facebook?” asks Tim Sloane, who follows digital currencies as vice …
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17 June
No Data Lost in Weekend Target POS Glitches and other Digital Transactions News briefs from 6/17/19
Target Corp. was hit by two point-of-sale glitches this past weekend. On Sunday afternoon the retailer was unable to process certain card transactions at some of its 1,800 stores for about 90 minutes due to an issue at a data center of its payment-services vendor, NCR Corp., Reuters reported. Sunday’s …
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14 June
Circle Will Sunset Its Circle Pay App To Concentrate on Cryptocurrency Projects
Circle Internet Financial Ltd. will cease supporting its 5-year-old Circle Pay mobile app beginning next month in order to concentrate on its blockchain and cryptocurrency ventures. Circle Pay is a no-fee peer-to-peer payments app that enables users to send money using the recipient’s phone number or email address. The service …
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14 June
A Core Group of Consumers Continues To Prefer Cash, Researcher Finds
The debut of cashless stores has led to pushback by several cities, the state of New Jersey, and a member of Congress concerned that card or mobile-payments-only options will leave cash-dependent consumers unable to shop in such stores. Now, new research from the Federal Reserve Bank of Atlanta concludes that …
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14 June
Payments Companies Sign up to Help Manage Facebook’s Expected Crypto Entry
At least four payments companies are set to participate in a consortium formed by Facebook Inc. to launch a cryptocurrency next year aimed at commerce rather than exchange trading, according to a report Friday in The Wall Street Journal. Facebook is expected to officially announce the initiative next week. The …
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14 June
PPRO Acquires Allpago and other Digital Transactions News briefs from 6/14/19
Cross-border payments firm PPRO announced its acquisition of Allpago, a payment and gateway provider in Latin America. Terms were not disclosed. Payments-services provider i2c Inc. said it is working with Zero, a financial-technology company that provides banking services. Payveris LLC completed its $7 million Series D funding round led by …
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13 June
WEX Looks for a Transaction-Volume Charge From a New Deal With an Electric-Vehicle Charge Supplier
Fleet and corporate payments provider WEX Inc. expects to enhance its charge volume through a new agreement to provide payment services to ChargePoint Inc., which has a global network of 66,000 charging stations for electric vehicles. The agreement with Campbell, Calif.-based ChargePoint will enable WEX’s 11 million fleet card holders …
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13 June
More than 450 Los Angeles-Area Merchants Get a POS Upgrade for Transit Payments
Los Angeles-area merchants that sell transit tickets on behalf of 25 transit agencies will adopt an Android-based app for ticket sales, Cubic Corp. announced Thursday. Cubic says its Cubic Transportation Systems division is upgrading the existing point-of-sale infrastructure more than 450 retailers use to accommodate the Cubic Mobile for Merchants …
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13 June
TCH Adds Another RTP Client and other Digital Transactions News briefs from 6/13/19
FirstBank, one of the largest privately held financial institutions in the United States, said it has committed to using the Real Time Payments network from The Clearing House Payments Co. Glint Pay Ltd., a startup that lets people make purchases on a debit Mastercard backed by gold, announced a $6.4 …