American Express today dispelled market rumors that it would expand its OptBlue program. The program, launched in May 2014, allows merchants who charge less than $1 million a year through American Express, to use one of 18 merchant processors to secure a lower discount rate. Market participants tell Bank InnovationRead More
Post Tagged with: "Discover"
People called, and MasterCard and Visa answered. In the past week, both card networks announced updates to their point-of-sale systems that promise to reduce the time it takes to use an EMV chip-enabled card at the checkout line. Cue cheering crowds. Visa released its new technology, dubbed Quick Chip, last week, claimingRead More
American Express has $1.4 billion of reasons to lament being left out of Powerball payments. Amex is the only one of the major networks not contracted to process Powerball “subscription” payments. And, unless you have taken residence on Pluto, you know that Powerball, which is administered by Mega Millions, hasRead More
Discover Financial Services might be the major FI most engaged in spending on information technology today. Which is why it is worth noting that the company claims it is already “seeing good returns associated with those” spending efforts, according to R. Mark Graf, the credit card issuer’s chief executive officer andRead More
Apple Pay will get a series of enhancements and updates with the iOS 9 release in the fall, the technology company announced today. Jennifer Bailey, vice president of worldwide online stores, made the Apple Pay-related disclosures at the Apple Worldwide Developers Conference in San Francisco. IOS 9 is available to developers now.Read More
Best Buy and Discover just moved into Apple Pay’s camp. Could these wins for Apple Pay mean that Cupertino is emerging as the winner in mobile payments and that more players, particularly major merchants, will inevitably follow? Not necessarily, but that doesn’t mean they’re not big deals. The addition of DiscoverRead More
What was most interesting at the ranking of Top 10 online banks released yesterday by GOBankingRates.com, a Bankrate.com challenger, were the companies that did not make the list. That list included some of the more well-known e-banks. So which banks were left off? Try Simple, Bluebird, Moven, GoBank, BankMobile, CapitalOne360 and Tangerine. And, fromRead More
What’s behind Apple’s internal deliberations about buying Discover? (Hint: China UnionPay.)
Never in the history of payments has there been such a media-frenzied, corporate disrupting and consumer-captivating moment as last week’s unveiling of Apple Pay.
Online-to-offline payments company Marqeta is seeing a bright future, and it’s made of plastic. The Emeryville, Calif.-based startup recently closed a $3 million round of funding, bringing its total funding to $25 million, and entered a partnership with The Bancorp to bring Marqeta’s +M technology to the white-label bank’s prepaid productRead More