Digital Transactions Authoritative, insightful and timely information for payments professionals

With Black Friday and Cyber Monday days away, one prediction calls for consumers to spend an average of $567 in the Thursday through Monday period. Released by consulting and advisory firm Deloitte, the forecast says that average spend will be 13% higher than in the same period in 2022. Perhaps …

Payments provider Paysafe Ltd. announced it will integrate network tokens from Visa to mask credit and debit card account numbers. The Federal Reserve Board announced an average 1.8% increase in pricing for established services such as check clearing and automated clearing house transactions, with pricing for the FedNow real-time network, which launched in July, …

Vesta, a fraud-prevention provider for e-commerce merchants, said it will integrate Stripe Inc.’s Radar risk scores and Stripe Connect, which enables businesses to facilitate purchases and payments between third-party buyers and sellers, into its Payment Guarantee platform. The Stripe Radar integration will help Vesta’s client merchants increase transactional approval rates …

The use of customer off the shelf (COTS) technology suggests that a merchant can leverage personally procured Android or Apple devices to execute point-of-sale operations. Even in today’s rapidly evolving payment technology, it’s a bold assumption. Such an implementation poses significant security challenges beyond contravening numerous acquiring and payment card …

Checkout-technology provider Bold Commerce said it is working with Link Financial Technologies Inc. to enable Bold Commerce’s client merchants to lower acceptance costs via Link Financial’s open-banking capabilities. Payments provider Bankful said it has enabled an integration to e-commerce platform Woo (formerly WooCommerce) to widen the choice of payments for Bankful client merchants to …

Consumers’ concerns about incurring credit card debt this holiday season is pushing many shoppers to consider buy now, pay later loans as a budget-management option, according to a report from the payments firm Klarna AB. Some 53% of respondents expressed concern about incurring credit card debt during the holiday season. …

Sweeping new executive hires at PayPal Holdings Inc., announced Wednesday, will help cement the 25-year-old payments company’s ambitious new direction under recently appointed chief executive Alex Chriss, observers say. “This is PayPal flexing who they are now. They want to be recognized by the world as an equal to Visa …

Payments provider i3 Verticals Inc. posted fourth-quarter 2023 revenue of $96.4 million, a 13% increase from $85.3 million for the same quarter a year ago ended Sept. 30. Quarterly income of $3.4 million reversed a $4.4 million loss last year. For the full year, i3 Verticals had a loss of $2.7 million, …

As 2023 winds down, Juniper Research is out with its top 10 trends for payments and fintechs in 2024. Chief among them is a challenge to cards in e-commerce and funding for wallets through account-to-account payments. Closely related is the prospect for FedNow, the nascent real-time payment service from the …

Shift4 Payments Inc. extended its reach in stadium payments Wednesday by partnering with the National Football League’s Miami Dolphins and Hard Rock Stadium to process payments for ticket sales for Dolphins games and other events at the stadium. The deal builds on Shift4’s integration with Ticketmaster Entertainment LLC, which was …

The United States accounts for 57% of retailers that reported a breach this year, according to Trustwave’s “2023 Retail Threat Landscape: Trustwave Threat Intelligence Briefing and Mitigation Strategies” report. The United Kingdom (8%) and Canada (7%) are a distant second and third. In related news, Riskified Ltd., a provider of technology …

Small businesses claim they have legitimate concerns that their larger counterparts will be the beneficiaries of lower card acceptance costs should the Credit Card Competition Act become law, argues the Small Business Payments Alliance, a trade organization recently formed by the Electronic Payments Coalition. Among the concerns about how the …

Paysafe Ltd.’s chef executive early Tuesday pointed to progress in the processor’s growth plan and outlined moves aimed at bolstering both the company’s product line and its stock. A new digital wallet aimed at U.S. small businesses will launch before year’s end, while the company’s board authorized a $50-million share-repurchase …

Zelle, the person-to-person payment service from Early Warning Services LLC, said it will launch a consumer education campaign video series this month to help educate consumers how to spot and avoid financial scams, specifically imposter scams. Zelle, in a statement to Digital Transaction News, also said most Zelle transactions—99.9%—are without any …

Banks in Zelle, the peer-to-peer payment network operated by Early Warning Services LLC, have been issuing refunds to consumers duped by fraudsters into sending money using the network, according to a report Monday by Reuters.  The reimbursements, which the banks have reportedly been paying out since June 30, represent a …

Fanatics Betting & Gaming, which launched its first retail sports-betting location in January and its mobile sportsbook in May, will use the card-payment and alternative-payment methods offered by Paysafe Ltd. Announced Monday, the integration will enable U.S. bettors on the Fanatics platform to make deposits and receive payouts in a …

Payments platform Klarna AB added a service in the U.S. market that enables “creators” to open customized online storefronts. PCI Pal, a provider of compliance technology for the Payment Card Industry data-security standard, said it is working with Zoom Video Communications Inc. to launch its services with Zoom Contact Center and Zoom …

Unattended payments and software specialist Cantaloupe Inc. boosted its roster of customers in its fiscal 2024 first quarter, which helped increase the company’s revenue to $62.7 million, up 8.5% from $57.8 million in the 2023 first quarter that ended Sept. 30. Malvern, Pa.-based Cantaloupe said the number of active customers …

Trust is the linchpin of payments processing. Whether it’s business-to-business or business-to-consumer, people want someone they trust to help them facilitate their money movements. This is why community banks remain resilient, even when grappling with stringent regulations and battling against giant global banks. It’s the same reason small businesses retain …

Digital-banking software provider Alkami Technology Inc. said it has enabled access for client banks to open-banking network Plaid via an application programming interface. Lightspeed Commerce Inc., a specialist in payments processing for the hospitality industry, launched “Luminaries,” a planned series of interviews with the leaders of client businesses, starting with the corporate …