U.S. Visa (VS) and MasterCard (MC) credit card U.S. Gross Dollar Volume (GDV) grew 10.7% in the third quarter to $488 billion. VS credit card GDV rose 12.8% while MC rose 6.6%.
Boston-based LoopPay says its new LoopPay Card and CardCase enable secure mobile payments at 40X more locations than Apple Pay. The new products are usable at more than 10 million merchant locations in the U.S.
GA-based Ingo Money has inked a deal to acquire the Fuze Network. Fuze enables its partners to add cash to more than one billion bankcards.
American Express has unveiled a suite of solutions designed to enable its card-issuing partners, processors, acquirers and merchants to create a safer online and mobile payments environment for consumers. The new American Express Token Service will meet these needs the Company says.
American Express launched its American Express Token Service allowing its card-issuing partners, processors, acquirers and merchants to offer a safer online and mobile payments environment. With NFC tokens, merchants and digital wallet operators will no longer need to store consumers’ sensitive payment account information in their systems. In addition, tokens can be assigned for use with a specific merchant, transaction type or payment device to provide further protection against fraud. It’s based on EMVCo’s Payment Tokenization Specification and Technical Framework, published earlier this year.
Silicon Valley-based i2c is powering a new Shift Payments’ debit card, which allows consumers to make payments in fiat, digital and alternative currencies. The companies have already collaborated to get test cards to market and are working on a global roll out.
GA-based payment processor TSYS plans to create an open technology environment. The Company says it is partnering with a limited number of new players to simplify the complexity in payments.
VASCO Data Security authentication, electronic signatures, and identity management announced two new DIGIPAS Authenticators with Bluetooth capabilities. The DIGIPASS875 is a smart card reader solution, and the DIGIPASS GO215 is a compact, one-button device offering powerful, portable and flexible two-factor authentication and digital signing.
GlobalOne of Pivotal Payments and a merchant services and global payment processing solutions announced wide release of its Smart Transaction Routing engine.
The mobile marketing and payments platform Yoyo has selected the BlueSnap global payment gateway for its international transactions.
The nation’s fifth largest payments processor reported record third quarter net revenue of $169.4 million, up 10.5% from the third quarter of 2013. Heartland Payment Systems also reported same store sales rose 1.8% and volume attrition was 12.6% in this year’s third quarter.
Western Union reported third quarter revenues increased 2% compared to the prior year period, or 5% on a constant currency basis. Operating income for the quarter rose 6%, despite increased costs from compliance activities.