Digital Transactions Authoritative, insightful and timely information for payments professionals
[Editor’s note: Originally posted Aug. 16, this article is #8 in Digital Transactions News’ countdown of 2024 posts by views.] Several organizations representing banks and credit unions filed a lawsuit late Thursday challenging Illinois’s Interchange Fee Prohibition Act, which was signed into law June 7. The lawsuit, filed in United States District …
December, 2024
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27 December
A Fight Over an Illinois Interchange Prohibition Law Is Far From Over
[Editor’s note: Originally posted June 17, this article is #7 in Digital Transactions News’ countdown of 2024 posts by views.] Groups representing Illinois financial institutions, along with the Electronic Payments Coalition, say they will fight to overturn the Illinois Interchange Fee Prohibition Act, which was passed earlier this month and is set …
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27 December
Optimizing payments and financial services to exceed consumer expectations and maximize revenue
Steven Velasquez, Senior Vice President and Head of Partner Business Development – Elavon, Inc. As payments technology innovation continues to evolve exponentially, today’s consumers expect a seamless, connected, and personalized buying experience. Buyers don’t care about payments per se, but the overall shopping experience. ISOs and ISVs that understand this …
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27 December
BNPL To Reach $111.2 Billion in Volume by 2029 and other Digital Transactions News briefs from 12/27/24
The worldwide market for buy now, pay later will grow to a volume of $112.36 billion by 2029, up from $32.89 billion in 2023, representing a compound annual growth rate of 22.5%, according to the “Buy Now Pay Later Platform Market” report from Research and Markets. Challenges the market faces include regulatory …
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26 December
Lower Costs Plus More Control Could Be Part of Fiserv’s Ambition for a Bank Charter
[Editor’s note: Originally posted Jan. 16, this article is #10 in Digital Transactions News’ countdown of 2024 posts by views.] Giant payment processor Fiserv Inc. wants to take on another aspect of the business with its application for a special bank charter in Georgia. The charter for a merchant-acquirer limited purpose bank, …
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26 December
After Coming ‘a Really Long Way,’ Paze Signs Sellers As It Executes a Staged Rollout
[Editor’s note: Originally posted June 24, this article is #9 in Digital Transactions News’ countdown of 2024 posts by views.] Paze, the online checkout platform backed by some of the nation’s biggest banks, is barreling through a state-by-state rollout that could culminate in nationwide coverage by late summer or early fall, according …
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26 December
FinCEN BOI Back on and other Digital Transactions News briefs from 12/26/24
The FinCEN Beneficial Ownership Information mandate is back in force with a recent court decision. That rule, part of the Corporate Transparency Act passed in 2024,had required businesses to file a Beneficial Ownership Information report by Jan. 1, which was delayed earlier in December but now makes these reports due Jan. 13. Businesses formed …
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24 December
Snapchat’s Blackhawk Gift Card Plan and other Digital Transactions News briefs from 12/24/24
Blackhawk Network will offer physical gift cards to users of Snapchat’s subscription service, Snapchat+. Snapchat is a messaging platform. The digital-payments platform Wirex has added two stablecoins, VNX Euro and VNX Swiss Franc, allowing users to spend the currency directly through their WIrex cards. Payments via QR codes will “shift from one niche …
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24 December
Merchants Hit Back at a Banking Group’s Request That the Fed Hold off on Reducing a Debit Interchange Cap
The Merchants Payments Coalition fired back late Monday at a request last week from the American Bankers Association that the Federal Reserve not act on a proposal to lower a longstanding limit on the interchange banks can earn on debit card transactions. In a letter to the Fed, the MPC …
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23 December
AI, Interchange, And Open Finance Are the Top Prospective 2025 Payments Trends
The outlook for payments in 2025 will be rife with open finance, instant payments, multi-rail payments, interchange questions, and the increasing use of artificial intelligence, observers suggest. The top three payments trends next year will be open finance, instant payments adoption, and point-of-sale innovations, says Capgemini Research Institute in its …
