December 1, 2020
Acquiring, Competitive Strategies, Credit Cards, Debit Cards, Digital Currency, E-Commerce, Electronic Bill Payment, Issuing/Originating, Mobile Commerce, Point-of-sale, Transaction Processing
The Libra Association, the organization behind the Libra cryptocurrency project, said it is renaming itself Diem, Latin for “day.” Acknowledging pressure from governments and regulators worldwide, the association this spring changed course on several key strategies, setting out new plans for single-currency stablecoins and a stronger compliance regime.Commerce platform Shopify Inc. said its merchants had …
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November 30, 2020
Acquiring, Competitive Strategies, E-Commerce, Fraud & Security, Mobile Commerce, Transaction Processing
With consumers shifting more of their transactions online due to the Covid-19 pandemic, criminals continue to target card-not-present transactions and step up their efforts to deceive consumers into giving up their account information, says Feedzai Inc.’s latest quarterly Financial Crime Report. The three leading factors contributing to the increase in …
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November 30, 2020
Acquiring, Competitive Strategies, Credit Cards, Debit Cards, E-Commerce, Fraud & Security, Issuing/Originating, Marketing, Mergers & Acquisitions, Mobile Commerce, Point-of-sale, Transaction Processing
Commerce platform Shopify Inc. reported $2.4 billion in global Black Friday sales, a 75% increase from 2019. Black Friday is the Friday following Thanksgiving. Mobile sales accounted for 68% of U.S. transactions and desktop, 32%. Top U.S. cities were New York, Los Angeles, and Vernon, Calif. The average ticket of $93.80 was …
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November 30, 2020
Acquiring, Competitive Strategies, Credit Cards, Debit Cards, Issuing/Originating, Law and Regulation, Mergers & Acquisitions, Transaction Processing
Unlike Visa and Mastercard, Plaid is not just another credit and debit card company largely beholden to the big banks. It uses modern technology, in a sector that has been slow to adopt it, to create a new payments paradigm. It likely has no plans to issue cards or use …
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November 25, 2020
Acquiring, Competitive Strategies, E-Commerce, Marketing, Mobile Commerce, Mobile Wallets, Near-Field Communication (NFC), Point-of-sale, Transaction Processing
With digital and physical commerce melding, Fiserv Inc. intends to position its Carat platform as the engine to enable providers such as Alphabet Inc.’s Google unit and merchants to process transactions across both channels. Fiserv took a big step in that direction last week when it announced it will enable …
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November 25, 2020
Acquiring, Competitive Strategies, Credit Cards, Debit Cards, E-Commerce, Fraud & Security, Mergers & Acquisitions, Mobile Commerce, Mobile Wallets, Point-of-sale, Transaction Processing
Some 81% of U.S. consumers have used a one-click payment method while shopping online, with 37% using the method “frequently,” according to a survey earlier this month of 961 consumers by The Strawhecker Group and the Electronic Transactions Association.Switched dollar volume and switched transaction volume for Mastercard Inc. in the week ending Nov. 21 were both …
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November 24, 2020
Acquiring, Competitive Strategies, Credit Cards, Debit Cards, E-Commerce, Mobile Commerce, Mobile Wallets, Near-Field Communication (NFC), Point-of-sale, Smart Cards, Transaction Processing
The future of digital payments is being created now with the adoption of contactless payments, new digital transactions such as buy online, pick up in store, and reduced friction within the payments ecosystem. That’s the assessment in the “Future-Proof Payments: From the EMV Chip to a Fully Digital Future” report …
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November 24, 2020
Acquiring, Competitive Strategies, Digital Currency, Marketing, Mobile Wallets, Near-Field Communication (NFC), Point-of-sale, Transaction Processing
The pandemic has forced the world—individuals and businesses alike—to reassess their approaches toward life and reevaluate daily processes. The same goes for convenience stores with a particular focus on solution-driven innovation and adaptation. They must evolve their businesses with modern technologies, such as contactless payment processing, pre-store visit staging, and …
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November 24, 2020
Acquiring, ATMs, Competitive Strategies, Credit Cards, Digital Currency, E-Commerce, Issuing/Originating, Marketing, Mobile Commerce, Point-of-sale, Prepaid Cards, Transaction Processing
Payment Alliance International Inc. said its fleet of more than 95,000 ATMs will redeem Bitcoin for cash under an agreement with B4U Financial LLC, whose BitLoad4U technology will manage authorization, clearing, and settlement and allow redemption from any cryptocurrency mobile wallet.A Bitcoin variant called Bitcoin Latinum announced a pre-sale launch with availability on exchanges in …
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November 23, 2020
Acquiring, Competitive Strategies, Credit Cards, Debit Cards, E-Commerce, Fraud & Security, Issuing/Originating, Marketing, Person-to-Person Payments, Point-of-sale, Transaction Processing
Visa Inc. has formed a partnership with virtual-payments technology provider Conferma Pay to launch Visa Commercial Pay, a venture in virtual commercial cards. Available globally, the suite will be available from Visa’s financial institution clients. Visa and Conferma Pay have a long-standing relationship. “Consumerization of [business-to-business] payments has significantly accelerated during …
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