Digital Transactions Authoritative, insightful and timely information for payments professionals
The Consumer Financial Protection Bureau early Wednesday released a circular to law-enforcement agencies warning that operators of credit card rewards may be violating a prohibition against unfair, deceptive, or abusive acts or practices by devaluing earned credit card points and airline miles. The CFPB issued the circular in part due …
December, 2024
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18 December
FinCEN’s Ownership Reporting Rule Delayed Amid Court Ruling
A court ruling in Texas earlier this month has delayed an ownership reporting requirement mandated by the Corporate Transparency Act. That is not likely to be a reason to rejoice because a future court could uphold the requirement. Under the act, which went into effect Jan. 1, businesses were supposed …
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18 December
VizyPay Revenue up 14% and other Digital Transactions News briefs from 12/18/24
Payments provider VizyPay said it processed $2.06 billion on 39 million transactions in 2024, as revenue climbed 14% to $24.1 million. PDX Global has completed tests for its PDX Beam technology, which converts cryptocurrency to cash in consumer-to-merchant transactions. The company will on Thursday embark on a public beta test of the system. …
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17 December
Visa Uses AI To Thwart Cyber Monday Fraudsters; Card.com Adds Visa Direct Cross Border Payments
Visa Inc. announced it dealt a significant setback to fraudsters hoping to cash in on Cyber Monday, the busiest online-shopping day of the year, by stopping about 85% more suspect transactions than it did a year earlier. The increase in fraud prevention is significant, as suspect transactions rose 200% globally …
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17 December
Zelle Enlists Star Power in a Fraud Awareness Campaign
Zelle, the peer-to-peer payments service from Early Warning Services LLC, will put the detective powers of its S.A.F.E. Squad to work again with the help of actor Christina Ricci in a new education campaign on fraud and scams. This is the second year of the campaign and Ricci’s participation. This …
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17 December
Card Concepts Settles with PayRange and other Digital Transactions News briefs from 12/17/24
Card Concepts Inc. will license mobile-payments technology from PayRange Inc. as part of a settlement of a patent-infringement lawsuit PayRange had brought against rival Card Concepts. Both companies provide payments technology for unattended machines, such as laundry equipment. Unattended payments specialist Cantaloupe Inc. said it will provide the point-of-sale technology and Suites management system for …
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16 December
Bealls Enlists Buy Now, Pay Later Through Sezzle As BNPL Adoption Expands
Department-store chain Bealls Inc. is adding buy now, pay later as a payment option at its more than 650 stores nationwide. The provider is Minneapolis-based Sezzle Inc. The Bradenton, Fla.-based chain, which operates stores in 23 states, says it is adding the payment option to provide holiday shoppers more flexibility …
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16 December
Transit System Adopts Mobile Payment Service
Bus riders in Indiana, Pa., can now use smart cards to pay their fares with the debut of the transit system’s IndiGO Mobile Pay. Boston-based Modeshift Inc. designed the fare-collection system in conjunction with the Indiana County Transit Authority. Riders can use a mobile app to find routes, buy tickets …
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16 December
CargoSprint’s Acquisition and other Digital Transactions News briefs from 12/16/24
CargoSprint, a payments processor for the cargo industry, has acquired Advent Intermodal Solutions LLC, which provides technology for port operations, including payments. Terms were not disclosed. The payments network Modern Rails has begun using the FedLine Direct Solution to support connections to the Federal Reserve’s payment-settlement network for banks and credit unions. …
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13 December
Paystone To Acquire Ackroo; MEFA Launches Gift Card program for College Tuition
Ackroo Inc., a Canadian gift card and loyalty platform, announced early Friday it has reached a “definitive” agreement to be acquired by Paystone, a Canadian-based gift card and loyalty processor, in an all-cash deal for $21 million. Paystone will acquire all of the issued and outstanding shares of Ackroo at …
