Alphabet Inc. will discontinue Google Pay, including its peer-to-peer payments capability, in the U.S. market on June 4, though it will maintain a Google Pay website. In the place of Google Pay, which launched amid much fanfare in 2011, Alphabet is promoting Google Wallet, which appeared in 2022 with wider functionality than payments, …
Read More »Will Cap One’s Deal for Discover Create ‘True’ Network Competition? Depends on Whom You Ask
Capital One Corp.’s proposed acquisition of Discover Financial Services may give Cap One an alternative network over which to route credit card transactions, but the deal will not create the “badly needed” network competition that passage of the Credit Card Competition Act would, the Merchants Payments Coalition argues. Without passage …
Read More »Zilch Tries 3-Month BNPL And Other Digital Transactions News briefs from 11/30/23
London-based buy now, pay later platform Zilch said it will launch in April an option allowing users to spread interest-free payments over three months. A trial of the service is in progress with 100,000 Zilch users. The company, whose main offering requires repayment over six weeks, claims 3.6 million users overall. Yardi, …
Read More »Good News for Paze: 44% Would Use a Bank-Provided Digital Wallet
When it comes to online checkout, consumers like using digital wallets. Seventy-two percent of them value digital-payment tools like digital wallets to make the online checkout easier, says Paze in its inaugural Paze Pulse report. Paze is an upcoming digital wallet from Early Warning Services LLC. Backed by seven large …
Read More »AfterShip Apple Wallet Updates And Other Digital Transactions News briefs from 2/21/2024
AfterShip, an e-commerce service, said it has enabled merchant users to get real-time delivery updates and track orders through Apple Wallet. Fortress Payments, a fintech for credit card issuing and acquiring, said it will work with AI-software provider Paravision to update Fortress’s Payment Identity Platform via face-matching and “liveness” technology. …
Read More »Not Even 1% Want Crypto Checkout And Other Digital Transactions News briefs from 2/20/24
Cryptocurrency as a payment method is only wanted by less than 1% of online shoppers surveyed in a Chargebacks911 report. The survey was performed by consulting and research firm TSG of 4,000 consumers. Payments platform ConnexPay said it is working with the UATP network and has launched its ConnexPay UATP card, a virtual card that …
Read More »The EU’s Fine Against Apple in Its Spotify Case Echoes a Familiar Story
The European Commission is planning to announce a fine of about 539 million euros ($500 million) on Apple Inc. next month after investigating a complaint from Sweden-based music app maker Spotify Technology SA regarding Apple’s policy of restricting apps from linking out to their own sites for services such as …
Read More »NMI Launches an Embedded Payments Platform to Ease Integration And Processing for ISOs
Payments provider NMI LLC announced Thursday the launch of NMI Payments, a modular embedded-payments solution that enables software companies and independent sales organizations to integrate and accept payments online, in-store, in-app, through mobile devices, and at unattended payment terminals, according to the company. NMI Payments integrates within existing applications and …
Read More »Toast Reports a Robust 2023 And Fourth Quarter As Dining Maintains Its Rebound
Shares in restaurant point-of-sale specialist Toast Inc. were trading modestly up early Friday following the company’s release late Thursday of December-quarter and full-year results indicating double-digit increases in client locations and payments volume and offering further evidence of the hospitality industry’s recovery from the 2020 pandemic. The results came as …
Read More »Smaller Issuers Have Better Rates, CFPB Says and other Digital Transactions News briefs from 2/16/24
The Consumer Financial Protection Bureau’s most recent analysis of card issuing practices found that in the first half of 2023 small banks and credit unions tended to offer lower interest rates than the top 25 issuers. For consumers with scores between 620 and 719, the median annual percentage rate for a large …
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