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- The Western Union Co. early next year will start allowing money transfers via Mastercard Send, a service that allows people to send money within seconds from a debit card to another person’s debit card, including non-Mastercard cards. Senders can also fund transfers with credit cards or bank accounts, but must know the recipient’s 16-digit card number. Western Union is the first money-transfer company to adopt the service, which Mastercard launched in 2015.
- Dollar volume on Discover Financial Services’ Pulse debit network jumped 17% year-over-year to $39.8 billion in the third quarter; proprietary Discover card volume increased 6% to $33.6 billion, and Diners Club International volume rose 9% to $8 billion. Discover’s network partners increased their volume 15% to $3.8 billion.
- Total System Services Inc. (TSYS) said its merchant-processing unit posted sales volume of $31.5 billion in the third quarter, up 9.8% from a year earlier. In all, TSYS reported net income of $123.1 million, an increase of 44.2% from a year earlier, on revenues of $1.2 billion, up 8.8%.
- Buy It Mobility Networks, which specializes in automated clearing house payments, announced an integration with Hatch Loyalty.
- Avoka Technologies Pty. Ltd., a provider of customer-acquisition technology for financial institutions, extended its agreement with Mitek Systems Inc. that integrates Mitek’s identity-verification products into Avoka’s Transact offering.
- Processor Vantiv Inc. announced that it will make point-of-sale devices and an Android-based app marketplace from payments-technology company AEVI available to merchants.
- Payments provider FattMerchant Inc. announced it closed $5.5 million in funding from Fulcrum Equity Partners. FattMerchant also said it has surpassed $1 billion in transaction volume.
- Neustar Inc., a digital-information provider, said it is part of the Visa ID Intelligence service Visa Inc. announced last week.
- In the “2017 State of Authentication Report” from Javelin Strategy & Research, 50% of businesses offer two factors when authenticating their customers, but only 35% do the same for their employees accessing their networks. The report was sponsored by the FIDO Alliance, an advocacy group for interoperable authentication methods.
- U.S. consumers expect to spend 51% of their holiday budget online, compared with 42% in stores, according to Deloitte’s annual holiday survey. Consumers expect to spend $430 on average on gifts this holiday season.
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