Online travel agency CheapAir.com says it has found a workaround that will let it continue to accept cryptocurrency, and Payroc LLC has become the latest payments provider to offer crypto to merchant clients. Calabasas, Calif.-based CheapAir notified customers on Friday that it has found a new provider for Bitcoin acceptance …
Read More »Samsung Eliminates Samsung Pay from Some Phones and other Digital Transactions News briefs from 7/16/18
The New York Department of Financial Services has granted a virtual-currency license to cryptocurrency processor BitPay, allowing it to do business with companies and consumers in the state of New York. In an apparent cost-cutting effort, Samsung Electronics Co. Ltd. is no longer including the Samsung Pay mobile-payments service in its …
Read More »Contactless Dominates World Cup and other Digital Transactions News briefs from 7/13/18
Half of all Visa transactions inside venues in Russia hosting soccer’s World Cup since the opening match June 14 have been contactless via cards, mobile devices, and wearables, the card network reports. Users of PayPal Holdings Inc.’s Venmo peer-to-peer payment service will be able to use Venmo within the Uber …
Read More »Checks Still Reign in U.S. Business Payments, but Electronic Methods Close Behind
An international survey of financial executives shows that checks are still the most commonly used method of business payments, but paperless methods aren’t far behind. The April survey of 914 chief financial officers and other senior finance executives, including 501 from the United States, for fleet-fueling and corporate-payments provider WEX …
Read More »Square Withdraws Bank Charter App and other Digital Transactions News briefs from 7/6/18
Square Inc. has withdrawn a banking-charter application it made in September with the Federal Deposit Insurance Corp., saying it will re-file the application later after reviewing and strengthening it. A related application with the Utah Department of Financial Institutions remains active. Both applications are for an industrial-loan corporation, which is …
Read More »The Problem of Stolen Crypto Is Getting Worse Fast, Spurring a Possible Regulatory Crackdown
Enthusiasts of Bitcoin and other cryptocurrencies are trying to position the digital currencies as legitimate means of exchange, but crypto’s tendency to be stolen and then laundered by thieves is not only well-known, it’s growing worse. The total estimated value of cryptocurrency pilfered from exchanges worldwide came to almost $800 …
Read More »Despite Growth in Mobile and Online Payments, Longstanding Payment Patterns Persist
The latest findings from a long-running survey of consumers’ payment choices show that new technology is driving a growing number of transactions, but overall usage patterns for credit cards, debit cards, and cash remain stable. The simultaneously released 2016 and 2017 Surveys of Consumer Payment Choice from the Federal Reserve …
Read More »NCR Opts for Bluefin Tech and other Digital Transactions News briefs from 6/29/18
Payments-technology provider Bluefin Payment Systems said NCR Corp. is using Bluefin’s point-to-point encryption service at merchants deploying NCR’s Counterpoint Retail Solution to process payments through NCR Secure Pay. Payments provider Merchant Consulting Group, which was founded in 2005, changed its name to Paystri. Credit-union processor PSCU said its new Lumin …
Read More »Eye on Crypto: Fit Pay Readies Its Flip; Expedia Cancels Bitcoin; Lightning’s Woes; Facebook’s About-Face
It has been a busy week in the cryptocurrency business. On Thursday, technology vendor Fit Pay Inc. announced it is closer to shipping a contactless coin-shaped device called Flip that allows consumers to convert their Bitcoin to U.S. dollars so they can make purchases. Earlier, news emerged that the online …
Read More »TrustCommerce Announces an Integration and other Digital Transactions News briefs from 6/27/18
Captiva MVP Restaurant Partners LLC, operator of the PDQ fast-casual chain, reported that a hacker accessed its computer system through a technology vendor’s “remote connection tool” and may have compromised an undisclosed quantity of payment card numbers, cardholder names, expiration dates, and verification values. The breach, which affected all but three …
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