Digital Transactions Authoritative, insightful and timely information for payments professionals

Three of the nation’s largest banks reported Tuesday that their credit card purchase volumes fell by more than 20% in the second quarter as the Covid-19 pandemic slammed the brakes on the economy, though things were better on the debit card side. New York City-based JPMorgan Chase & Co., the …

With the massive increase in e-commerce this year, and new merchants moving to an online model out of necessity, combating card-not-present fraud is incredibly important. EMV 3-D Secure 1.0 (or 3DS1) has been continually upgraded as technology and consumer habits changed; however, from its first iteration it has always had …

Visa Inc. announced it is working on U.S. pilots for a new installment-payment service. TSYS, part of Global Payments Inc., will be the first issuer technology partner, with Commerce Bank as the first U.S. bank partner. 42nd Street Photos, Tire Agent, and The Room Place are among the first merchants to offer …

With consumer and merchant preferences shifting towards contactless payment methods in the wake of the Covid-19 pandemic, payments activated by Quick Response codes are gaining more attention. That’s because they are a low-cost way for merchants without NFC (near-field communication)-based applications, such as Apple Pay and Google Pay, to add …

Consumers have been spending considerably less in most stores over the past four months, but that hasn’t prevented a shortage of coins from developing. But in one sign of a nascent revival of cash usage, the number ATM cash withdrawals by credit union members has finally broken a 15-week streak …

Sellers continue to have questions about the impact of moving to eBay Inc.’s managed-payments program as the online marketplace’s five-year operating agreement with PayPal Holdings Inc. is set to expire later this week.Financial-services platform Nymbus Inc. announced it will offer digital billing and other payment services from Payrailz LLC as part of its cloud-based set of banking …

With trillions of dollars in federal stimulus money sloshing around in the economy to help consumers who have lost their jobs due to Covid-19, fraudsters are ratcheting up their efforts to get a piece of that pie. Two popular plans of attack are imposter scams, where criminals impersonate representatives of …

New data from a point-of-sale services provider show just how much of a boost the Covid-19 pandemic has given to contactless payments. New York City-based CardFlight Inc., a technology company serving more than 60,000 small businesses through its SwipeSimple service, says in its latest weekly report on payment trends since …

Marqeta Inc., a 10-year-old provider of a digital card-issuing platform, is looking to hire investment banks for a possible initial public offering later this year or in 2021, according to Reuters. The company, valued at $4.3 billion after its latest funding, is backed by Goldman Sachs and Visa Inc. and …

When the big card networks this spring postponed until April 2021 the fraud-liability deadline for EMV chip cards at gas pumps, the retail fuel industry heaved a huge sigh of relief. But now estimates are emerging that indicate even relatively small gas-station operators that don’t enable their pumps for EMV …

Online fraud has always been a big problem, but now with consumers purchasing more online in the face of the coronavirus pandemic, criminals are finding even greater opportunity for illicit gain.  One big area of concern is content fraud on digital marketplaces, which can be used to perpetrate payment fraud …

The U.S. subsidiary of failed German payment processor Wirecard AG is drawing strong interest from potential buyers, according to media reports. The Wall Street Journal also reported that the U.S. Justice Department is investigating whether Wirecard AG played a critical role in an alleged $100 million bank-fraud conspiracy connected to an online marijuana marketplace.Splitit Payments Ltd., which enables …

Apple Inc., whose Apple Pay is the leading mobile-payment service based on near field communication technology, reportedly is testing Quick Response codes as an alternative technology with Apple Pay. That development was first reported Tuesday by the 9 to 5 Mac blog, which said a second beta version of the …

With consumers shopping online in greater numbers, the four major card networks are preparing to take their new single-click checkout technology international. American Express Co., Discover Financial Services, Mastercard Inc., and Visa Inc. said in a joint announcement Wednesday they are “beginning technical preparations” to launch the technology, Click to …

Discover Financial Services announced an agreement with the Saudi Arabian Monetary Authority’s Saudi Payments unit that calls for acceptance of Discover, Diners Club International, and Pulse cards on Saudi Payments’ mada network. The deal includes acceptance on point-of-sale terminals, e-commerce platforms, and at ATMs.Fareportal, the technology platform for travel brands CheapOair …

The number of ATMs providing the option of cardless withdrawals rose 26% in 2019, says a new report from research firm RBR. Leading the charge in the adoption of cardless ATMs is the United States, where the number of these machines has more than tripled, according to the research.  Bank …

As businesses start to reopen, independent sales organizations and other payment providers are rolling out programs suited to the new reality faced by both proprietors and their customers. The latest example comes from VizyPay, which on Tuesday announced a service it says will help merchants attract old customers and pull …

Employees of independent sales organization Gravity Payments Inc. who collectively volunteered to take pay cuts during the coronavirus pandemic to avoid layoffs are now being repaid what they sacrificed; the average employee is getting $4,300 in back pay, Yahoo Money reported.Payment processor Computer Services Inc. reported record quarterly revenue of $70.6 million for its …

Though Covid-19 still casts a long shadow over a number of U.S. states where early reopenings have led to a resurgence in  coronavirus cases, data released Monday indicate merchant volume is climbing rapidly across industries. The positive trend includes the hard-hit hospitality sector, according to the latest numbers.  Merchants in …

Fiserv Inc. said it has begun processing all in-store payments at 2,250 ALDI Nord stores in Germany through First Data Gmbh. Fiserv acquired First Data in 2019. Discover Financial Services said it will donate $25,000 to each of 200 restaurants owned by black proprietors. Nominations are being taken between now and Oct. …