Digital Transactions Authoritative, insightful and timely information for payments professionals

With consumers increasingly turning to fintechs to round out their financial services and get access to those services on their terms, the need to partner with providers of open banking platforms is growing rapidly. To facilitate such partnerships, open-banking network MX Technologies Inc. late Wednesday announced the formalization of its …

Online spending in May totaled $78.8 billion, more than $1 billion above April, said Adobe Inc. in its Adobe Digital Price Index.E-commerce platform WooCommerce said it has enhanced its card reader to add the ability for merchants to enter an order in the WooCommerce mobile app and automatically synchronize inventory between in-person and …

While companies have been steadily moving towards digitalized payments, checks remain a large portion of the business-to-business payment ecosystem. To help accelerate the trend away from paper checks and toward digital payments, Fiserv Inc. announced a partnership Wednesday with Checkbook Inc., a push-payments processor, to enable its Carat operating system …

The pandemic sent workers home to work, and online criminals have been quick to take advantage of that mass migration. Phishing attacks are now at a record high, with incidents in the first quarter breaching 1 million for the first time, according to a report released Tuesday by the Anti-Phishing …

EMVCo reported the number of EMV chip cards in circulation globally has grown by 1.1 billion over the past year to a total of 12 billion. Some 68% of all cards issued are now EMV-enabled and 90% of all card-present transactions use EMV chip technology, according to the global standards body.Paysafe …

MagicCube Inc. has chiefly aimed its tap-to-pay technology at small sellers to allow them to take card payments directly on an off-the-shelf mobile device. But on Monday the Santa Clara, Calif.-based company announced a version of its i-Accept platform for enterprise and big-box merchants.  To make i-Accept more attractive to …

Total credit and debit card dollar volume for Bank of America Corp. increased 9% in May year-over-year, with credit card volume up 16% and debit volume up 9%, the Bank of America Institute reported.A research report from Aite-Novarica finds what the report calls “excessively high rates” of identity theft, which the report says …

Apple Inc.’s sneak peek at its iOS16 operating system on Monday included the news that the new version will include Apple’s widely expected entry in the hot buy now, pay later market. Available in the U.S. market, Apple Pay Later will be accepted at all places that take Apple Pay …

High usage rates and increasing adoption by small businesses are the primary factors that have led Interac, Canada’s national debit and account-to-account payment network, to hit a record 1 billion transactions for the 12-month period ended April 30, a 16% increase from the same period a year earlier. A recent …

Payments-as-a-service and other “as-a-service” technologies have emerged in recent years to package the technology and expertise needed for fintechs to expand their reach and expertise in payments. Now acquiring-as-a-service is stepping onto center stage with news that Fiserv Inc. has agreed to support payments for merchants using Trust Payments Ltd. …

Luma Health Inc. debuted LumaPay, which allows patients to pay medical bills via text messages.U.S.-based payments provider FreedomPay said it is working with Network International to provide digital-payment capability to the hospitality industry in the Middle East and Africa region.Canada-based Kapsch TrafficCom announced it has now manufactured 100 million toll-payment transponders, which are used in …

Despite a persistent shortage of microchips, global shipments of contactless cards hit the 2-billion mark for the first time in 2021, totaling 2.63 billion for the year, according to the Smart Payment Association, a Munich-based trade group.  Propelling the surge was the shipment of an additional 269 million contactless cards …

Square intrigued the payments industry a decade ago when it emerged to provide small sellers with a simple dongle they could attach to a mobile phone to accept card payments. Now Square says it’s moving to the next step. The company announced Thursday that later this year it will adopt …

Huntington Bancshares Inc. said it is establishing a unit within the bank dedicated to payments strategy and investment. Amit Dhingra has been appointed to lead the group as Enterprise Payments Director.A platform called i-payout said it is launching a real-time service for payouts in the U.S. and Canada. Rather than …

The drive to achieve mainstream merchant acceptance of cryptocurrency received a boost Thursday as Shopify Inc. and DePay, a Swiss blockchain payments platform, teamed up to enable consumers to send direct payments to Shopify merchants’ wallets.  Shopify will leverage DePay’s blockchain to enable merchants to receive any preferred tokens, with …

The financial stresses brought on by inflation and other after-effects of the pandemic are starting to damage consumer satisfaction with payments apps, according to the results of a series of J.D. Power surveys, results of which were released early Thursday. Indeed, consumer satisfaction seems to be dropping even as app …

Shoplazza, a shopping-cart technology provider for more than 360,000 merchants, said it will support integration of payments-acceptance capability from Payoneer into its clients’ Web stores.Billing and payment platform Kill Bill and Wovenware, a provider of artificial intelligence and software engineering services, said Wovenware created an open-source plugin that integrates e-commerce processor Adyen to the …

In a sign of buy now, pay later’s deepening penetration of digital payments, Affirm Inc. is partnering with payments-technology provider Stripe Inc. to make its Adaptive Checkout application available to Stripe clients in the United States. Launched in 2021, Adaptive Checkout uses Affirm’s decisioning engine to offer consumers personalized bi-weekly …

Since going public a year ago, Payoneer Global Inc. has been capitalizing on its capabilities in key cross-border payments capabilities, including direct transfers and mass payouts. Its reach now includes big international online marketplaces with its announcement early on Wednesday that it will process payments for merchants selling on SEAGM, …

Visa Inc. has collaborated with working-capital platform Fundbox to launch the Fundbox Flex Visa debit card, issued by Pathward N.A.KindTap Technologies, a payments provider specializing in the cannabis industry, has integrated with Dispense, an e-commerce platform, to allow merchants using Dispense to accept credit card and automated clearing house payments …