Digital Transactions Authoritative, insightful and timely information for payments professionals

June, 2017

• 1 June

  What To Watch in Payments

  

  What are the ingredients of payments modernization in the United States? I suggest there are three: 1. Faster Payments  The race to create a U.S. faster-payments system has begun. What’s not clear is what it will look like at the finish line. The variety of systems being either launched or …
• 1 June

  An Approaching P2P Payments Upswell?

  

  A survey for megabank Bank of America Corp. indicates that consumers of all ages are ready to embrace electronic person-to-person payments. BofA’s latest Trends in Consumer Mobility Report, released last month, found that 36% of all respondents use a P2P payments service. Market-research firm Convergys queried for the bank 1,005 …
• 1 June

  Pressure Builds for Cannabis Payments

  

  The growth of the legal cannabis industry will force bankers and payments executives to examine the business prospects of serving that industry, according to an executive with a regional automated clearing house association. While marijuana remains illegal under federal law, 29 states have approved for it for use by adults …
• 1 June

  First Data’s New Fraud-Detection Tool Features Real-Time Algorithm Updating

  

  First Data Corp. is hoping that its scale—it says it processes more than 2,800 transactions per second coming from more than 6 million merchants—will give its new Fraud Detect service an edge in thwarting fraudulent transactions. Announced Thursday, Fraud Detect uses artificial intelligence and machine learning, fraud scoring, cybersecurity intelligence, …
• 1 June

  iPayment Launches Gateway and other Digital Transactions News briefs

  • Marking an end to American Express Co.’s cobranded card losing streak, hotel chain Hilton Worldwide Holdings Inc. named AmEx as its exclusive credit card issuer effective Jan. 1, according to Bloomberg. AmEx and Citigroup Inc., which took over issuance of the Costco Wholesale Corp. cobranded card from AmEx a year …
• 1 June

  As Sellers Adopt EMV And Apple Pay, Square Pushes Its EMV/Contactless Reader

  

  With chip cards and contactless mobile transactions gradually working their way into more merchant checkouts, Square Inc. is pairing a couple of tried-and-true offers to push an 18-month-old card reader that handles both EMV and Apple Pay. In the latest wave of a promotional campaign that was announced in January, Square earlier …

May, 2017

• 31 May

  Banks And Non-Banks Play to Their Strengths As They Eye a $1.2 Trillion P2P Market

  Financial institutions and third-party providers of digital person-to-person payments may have the same goal—ubiquity of service and adoption—but they’ll have to take different paths to get there, according to “Digital Person-to-Person Payments in the U.S.: The Competitive Landscape,” a report released last week by the Aite Group LLC. The P2P …
• 31 May

  Global Payments Supplies Online Car Purchase Tech and other Digital Transactions News briefs

  • POS Portal Inc., a point-of-sale equipment distributor, said it is now supplying payment equipment via Retail Realm, a POS software distributor. • Merchant processor Global Payments Inc. said it is providing payment technology for Hyundai Motor UK’s “Click To Buy” platform, which lets consumers buy a car online from any participating …
• 31 May

  Android Pay Debuts for Canadian Debit and Credit Card Payments

  

  The Android Pay mobile-payments service from Alphabet Inc.’s Google unit is now live or about to go live in Canada, payments companies and media outlets reported Wednesday. Canada’s Interac Association national debit network said that its Interac Debit service will be available for Android Pay mobile payments beginning June 5 …
• 30 May

  First Data Increases Its ISV Footprint With Its $750 Million Acquisition of CardConnect

  

  Just six months after declaring that it intended to become a player in the independent software vendor (ISV) payments space, processor First Data Corp. late Monday said it has a deal to buy a prominent ISV, CardConnect Corp., for $750 million. “CardConnect has been investing in technology, dedicated sales, and specialized …