Digital Transactions Authoritative, insightful and timely information for payments professionals

Subscription-management platform provider Recurly Inc. reported Thursday that it will use international multi-channel payments provider Adyen to further expand its business abroad. Founded in 2010, San Francisco-based Recurly already operates in 32 countries. Its customers are businesses that use recurring-revenue models, including media and publishing firms, software-as-a-service providers, and others. …

Santa Claus might be relaxing on Dec. 25, but criminals targeting online merchants with stolen credit and debit cards won’t be taking the day off. That’s evident from Stripe Inc.’s latest report on online fraud trends and behavior. Released this week, the report, which examines an undisclosed number of transactions made …

Wider availability of technology that would have been nearly unthinkable only a few years ago is making biometric authentication a more likely replacement for the password. In the latest development, Discover Financial Services on Thursday announced users of its mobile app who own an iPhone X can log in to …

Payrange Inc., a developer of mobile-payment applications for washers, dryers, and other machines, introduced its product for Speed Queen and Maytag laundry machines. Subscription-management platform provider Recurly Inc. said it will use international payments provider Adyen to further expand its global business. Cornerstone Bank became the 200th financial institution to …

Gas stations caught a lucky break a year ago when Visa Inc. and Mastercard Inc. postponed their planned October 2017 EMV liability shifts for unattended fuel pumps for three years. Almost no convenience store or stand-alone gas station chain would have been ready by then, retail petroleum executives say, and …

7-Eleven Inc. announced it is testing online ordering for delivery or pickup on its new 7-ElevenNOW mobile app at 10 downtown and uptown stores in Dallas. The convenience-store chain expects to begin rolling out the app to other stores in 2018. Payments provider Clearent LLC said it received validation of …

VeriFone Systems Inc. has finally shed its underperforming taxi business, but it still faces a North American market hampered by a three-year delay in an EMV deadline for U.S. petroleum marketers. The San Jose, Calif.-based point-of-sale company sold the taxi unit on Tuesday for $30 million. VeriFone, which will retain …

The seemingly unending growth in online shopping is doing more than closing physical stores. The point of sale in the stores that remain is changing, and along with it, payments providers, says Javelin Strategy & Research in its “2017-2021 Retail Point of Sale Payment Forecast.” As consumers continue to increase …

Mastercard Inc. launched Assemble, a prepaid service aimed at Millennials that features a digital prepaid account, a mobile app, and a physical or digital card. The service also includes budgeting capability and peer-to-peer payments through Mastercard Send. The company says it plans to extend versions of Assemble to other markets, …

The Chicago Transit Authority, an early proponent of open-loop fare payments, announced Monday that the general-purpose payment feature in some of its fare cards will expire Dec. 31. The operator of the nation’s second-largest transit system says riders did not embrace the idea of a CTA-provided general-purpose prepaid account coupled …

American Express Co. on Monday became the third of the four major U.S. card brands to announce it will cease requiring signatures for transactions made with its cards at the point of sale beginning in April 2018. AmEx says its rule change applies to all point-of-sale purchase transactions globally, a …

The first Bitcoin futures contracts began trading at 6 p.m. Eastern Time Sunday and almost right away the volume of activity crashed a Web site operated by the exchange, Cboe Global Markets Inc. After an initial run up, Bitcoin was trading around $16,500 by 10 a.m. Monday. A rival exchange, …

The reasons why consumers hate checks are numerous: waiting for a check to arrive in the mail, finding an institution to deposit it, waiting another three to five days for funds to clear, then fearing it might bounce. Nearly everyone would agree that it’s an antiquated process filled with stress …

Bitcoin’s heady rise this year has pleased investors and drawn the attention of derivatives exchanges and other institutional players, but it may also have obscured a development going on behind the scenes to solve one of the digital currency’s biggest drawbacks: its weakness as a payment method. Bitcoin, which started …

Consumer revolving credit jumped 9.9% on an annualized basis in October, seasonally adjusted preliminary data from the Federal Reserve show. Revolving credit outstandings, most of which are credit card debt, hit $1.01 trillion, up 5.9% from $955.3 billion in October 2016. PayCargo LLC, an online-payment platform that allows shippers and carriers to …

The evolution of ATMs away from strictly card-based usage and toward mobile devices advanced Thursday when Fort Lee, N.J.-based Cross River Bank reported that it is the first bank to offer Mastercard Inc.’s Cash Pick-Up service. The service, which Mastercard announced in September, enables so-called underbanked or unbanked consumers to …

Whether he intended to or not, Ken Chenault may well have touched off a debate about what constitutes the ideal governance structure for a global payments network. Chenault, who will retire early next year as chairman and chief executive of American Express Co., charged this week that his two big …

Valve Corp., which operates Steam, a popular gaming site, said it no longer is accepting Bitcoin because of the digital currency’s volatility and acceptance costs, which reached almost $20 in a transaction last week. Bitcoin processor BitPay Inc. said it raised $30 million in additional funding. In 2014, the company …

Discover Financial Services could find itself in the catbird’s seat if Apple Inc.’s new Apple Pay Cash person-to-person payment service gains popularity as a way to pay merchants. In addition to its main P2P function, Apple Pay Cash is accepted at any merchant location that accepts Apple’s 3-year-old Apple Pay …

American Express Co. chairman and CEO Kenneth I. Chenault said at an investor conference Tuesday that banks’ sale of their stakes in Mastercard and Visa through initial public offerings “was one of the biggest strategic blunders of the last 20 years,” according to Bloomberg. Chenault, who will retire in February, …