Digital Transactions Authoritative, insightful and timely information for payments professionals
Bill.com said it secured $100 million in a funding round led by JPMorgan Chase & Co. and Singapore-based investment firm Temasek Holdings, bringing total investment in the business-payment network to more than $200 million; the company plans to use the funds for network expansion and to accelerate its distribution among …
October, 2017
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11 October
Eye on POS Terminals: Ingenico Device Available in Canada While Elavon Debuts Poynt
Point-of-sale terminal maker Ingenico Group said its Telium Tetra POS terminal is now available in Canada through TD Merchant Solutions, the first Canadian acquirer to offer the device. Separately, processor Elavon, a unit of U.S. Bancorp, made the Poynt Co. POS terminal available in Canada. Ingenico said its touchscreen, countertop …
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11 October
P2P Payments Generate ‘Lots of Hype And No Results’ for Small Banks, Report Indicates
Financial institutions wearied of seeing nonbanks scoop up more and more of the digital person-to-person payments business, so they’ve begun offering the service themselves. But a report released Wednesday indicates those efforts aren’t panning out all that well, at least for mid-sized and smaller institutions. “Lots of hype and no …
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10 October
Community Bankers Ask the FDIC To Deny Deposit Insurance for Square’s Bank
Citing the heavier regulatory burden borne by conventional banks, the Independent Community Bankers of America trade group on Tuesday asked the Federal Deposit Insurance Cop. to deny merchant processor Square Inc.’s insurance application. San Francisco-based Square last month announced it would apply for an industrial bank charter from the state …
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10 October
Wells Fargo Launches NFC Cardless Cash ATM Service and other Digital Transactions News briefs from 10/10/17
Wells Fargo & Co. launched cardless cash access at its ATMs using near-field communication technology. Consumers using the bank’s mobile app hold an NFC-equipped smart phone near an NFC-enabled ATM after opening and authenticating the bank app. The ATM then prompts for a PIN entry to complete the transaction. Wells said …
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10 October
Merchants Celebrate the Durbin Amendment’s Sixth Birthday as Payments Group Sneers
The Durbin Amendment’s debit card interchange price cap took effect six years ago this month, prompting a merchant group to celebrate the occasion and claim the measure has saved consumers and merchants $48 billion. But a lobbying group of payment networks and banks derided those savings estimates and once again …
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10 October
Smart Checkout Is Advancing, But Getting Rid of the Checkout Will Take a While
Ever since ride-sharing apps like Uber and Lyft came along, processors and merchants have been captivated by the idea of running transactions entirely in the background, without any checkout. That concept will emerge over time, but in different forms and not necessarily with checkout-less experiences, according to research released Tuesday. …
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9 October
Eye on Blackhawk: Consumers Take Deals to Heart and a Director Leaves the Board
In the unending quest for a deal, price isn’t the only consideration for consumers, but it’s an important one, finds research from Hawk Incentives, a business owned by prepaid specialist Blackhawk Network Holdings Inc. In the “The Recession May Be Over, But Deal Seeking Isn’t” report based on a survey …
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9 October
FDIC May Have Been Hit With Up to 54 Data Breaches in the Past Two Years, Auditor Says
As the insurer for deposits at most of the nation’s banks, the Federal Deposit Insurance Corp. collects a large amount of personally identifying information on bank customers. As such, the FDIC is a target for hackers, who hit it with 54 suspected or confirmed data breaches discovered between Jan. 1, …
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9 October
Radial Purchased by bpost and other Digital Transactions News briefs from 10/9/17
Elan Financial Services, a processing unit of U.S. Bank, announced it has worked with Ondot Systems to allow two-way communications on the My Mobile Money app. The app now allows issuers to communicate directly with cardholders to confirm debit card transactions. Belgian postal operator bpost has acquired Radial, a U.S. e-commerce …