Digital Transactions Authoritative, insightful and timely information for payments professionals
By Jim Daly@DTPaymentNews With American Express Co. set to report its third-quarter financials Wednesday, the payments industry and Wall Street will be watching for signs from the beleaguered travel-and-entertainment giant about how it will recover from the loss of its cobranded card and acceptance relationship with Costco Wholesale Corp. AmEx …
October, 2016
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17 October
First Data’s Clover Bluetooth Reader and other Digital Transactions News briefs
• Bank of America Corp. said its debit card purchase volumes totaled $71 billion in the third quarter, up 2.5% from $69.3 billion a year earlier. U.S. credit card purchase volume increased 2% to $57.6 billion. BofA said it now has 21.3 million mobile-banking users, a 15.8% increase from 18.4 …
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17 October
Visa Says CEO Scharf Has Quit And Will Be Replaced By Former AmEx Exec Kelly
By John Stewart @DTPaymentNews Visa Inc. stunned the payments industry late Monday with an announcement that its chief executive, Charles Scharf, has resigned, effective Dec. 1. Scharf will be replaced by Alfred F. Kelly, a 23-year veteran of American Express Co. and currently a Visa board member. Kelly, whose service …
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14 October
Looking for the Hot Tech Trend in Payments? Hint: It’s Not Mobile Apps Any More
By John Stewart @DTPaymentNews While the payments business is caught up these days in working out strategies for mobile apps and social media, it turns out these aren’t the cutting-edge technologies they once were. Instead, fields like virtual reality, machine learning, and natural language are winning the spotlight. That’s according …
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14 October
Costco’s Cobranded Portfolio Gives a Big Lift to Citi’s Credit Card Transaction Volume
By Jim Daly@DTPaymentNews Its first full quarter of ownership of the big Costco Wholesale Corp. cobranded credit card portfolio helped to boost Citigroup Inc.’s North American purchase volume by 57%, the giant New York City-based bank reported Friday.
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14 October
Noble House Again Reports Data Breach and other Digital Transactions News briefs
• The rash of hotel breaches continues. Noble House Hotels & Resorts said it confirmed that a payment card system used at its Teton Mountain Lodge & Spa and Hotel Terra may have been breached between Sept. 5 and Sept. 6. The company said there are no indications the breach …
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13 October
Wayne Lines Up Kroger Fuel Pump EMV Transition And Earns First Data EMV OK
By Kevin Woodward@DTPaymentNews With the deadline for EMV compliance for fuel resellers a year away, fuel-pump maker Wayne Fueling Systems LLC is readying its products for the transition from magnetic-stripe payment cards. Wayne says its NAMOS point-of-sale system is now available for EMV transactions on First Data Corp.’s network, and …
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13 October
Samsung Pulls All Note 7 Devices and other Digital Transactions News briefs
• Payments provider TransFirst, a unit of Total System Services Inc. (TSYS), and Raintree Systems, which provides specialized practice-management software, formed a partnership that sees TransFirst as the integrated payments provider in Raintree’s software. • Following its decision earlier this week to halt production, sale, and exchange of its troubled …
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12 October
New Payments Shop Fuzse Debuts With a Strategy To Reach Merchants Via Developers
By Kevin Woodward@DTPaymentNews Fuzse, a new payments company targeting merchants that want seamless payment flows, is embracing software developers and independent software vendors as a way to reach them. The Dallas-based company, founded by Lane Conner, a former executive at First American Payment Systems L.P., Century Payments, and most recently …
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12 October
NFC Forum Releases Four Proposed Specs and other Digital Transactions News briefs
• Payment gateway Shift4 Corp., which claims to have introduced in 2005 the first payment-data tokenization solution, announced it has surpassed the 7-billion mark in tokenized transactions. • The NFC Forum announced it has made available a newly adopted and four candidate technical specifications for near-field communication. The adopted specification …