April 30, 2020
Acquiring, Competitive Strategies, Credit Cards, E-Commerce, Fraud & Security, Marketing, Point-of-sale, Transaction Processing, Vending
Citing the risk to their businesses from the coronavirus pandemic, securities rating agency Fitch Ratings revised its outlook to negative for seven publicly traded consumer-finance companies, including American Express Co., Discover Financial Services, and Synchrony Financial.Main Event Entertainment Inc. issued a notification indicating malware collected data from cards used on point-of-sale devices for food-and-beverage and entertainment …
Read More »
April 29, 2020
Acquiring, Competitive Strategies, Credit Cards, Debit Cards, E-Commerce, Fraud & Security, Issuing/Originating, Marketing, Mobile Commerce, Near-Field Communication (NFC), Point-of-sale, Prepaid Cards, Transaction Processing
Mastercard Inc. managed to remain profitable in the first quarter as the Covid-19 pandemic began to sweep the world, and its volume and transaction data for April indicate a possible bottoming out of the steep decline in consumer and business spending. U.S. dollar volume switched over Mastercard’s network in the …
Read More »
April 28, 2020
Competitive Strategies, E-Commerce, Fraud & Security, Law and Regulation, Mobile Commerce, Transaction Processing
Payments fraud was already rising, and now experts predict increased online usage brought on by stay-at-home orders will only exacerbate the trend. While losses haven’t shown up yet, e-commerce activity taking place now is sowing the seeds of a dramatic jump in coming months. “Fraud is always a trailing activity,” …
Read More »
April 24, 2020
Acquiring, Competitive Strategies, Credit Cards, Debit Cards, Digital Currency, E-Commerce, Fraud & Security, Transaction Processing
Independent sales organization Electronic Merchant Systems said it is working with Womply, a software and data-services provider for small businesses, to help merchants find lenders offering quick access to loan applications through the government’s Paycheck Protection Program, a Covid-19 relief effort.For the first time, ransomware incidents overtook payment card data when comparing the …
Read More »
April 16, 2020
Acquiring, Competitive Strategies, E-Commerce, Electronic Bill Payment, Fraud & Security, Mobile Commerce, Point-of-sale, Pricing, Transaction Processing
Saying the Covid-19 pandemic “is pushing the economy online,” e-commerce payment processor Stripe Inc. announced it has raised another $600 million through an extension of its Series G funding round. Stripe said it will use the funding “to step up product development, global expansion, and strategic initiatives.”Payments provider Clearent launched Clearent EDU, a free …
Read More »
April 15, 2020
Acquiring, Competitive Strategies, E-Commerce, Fraud & Security, Issuing/Originating, Law and Regulation, Marketing, Mobile Commerce, Prepaid Cards, Transaction Processing
U.S. retail sales for March decreased 8.7% from February, according to figures released by the Census Bureau. One bright spot was a 28% increase in sales at food and beverage stores from March 2019. Clothing and clothing accessories store sales were down 50.7%.Fidelity National Information Services Inc. (FIS) said it is supporting …
Read More »
April 14, 2020
Acquiring, Competitive Strategies, Credit Cards, Debit Cards, E-Commerce, Fraud & Security, Issuing/Originating, Marketing, Mobile Commerce, Point-of-sale, Prepaid Cards, Transaction Processing
EBay Inc. named former Walmart Inc. executive Jamie Iannone chief executive officer, effective April 27. Iannone, who will succeed interim CEO Scott Schenkel, most recently served as chief operating officer of Walmart eCommerce and was at one time chief executive of SamsClub.com. EBay indicated earlier this year it has plans to …
Read More »
April 13, 2020
Competitive Strategies, E-Commerce, Fraud & Security, Mobile Commerce, Transaction Processing
Visa Inc. is urging e-commerce merchants still using Adobe Inc.’s Magento 1 platform to upgrade to the newer Magento Commerce 2.3 because Magento will stop supporting Magento 1 at the end of June. Merchants continuing to use the older platform will fall out of compliance with the Payment Card Industry …
Read More »
April 13, 2020
Acquiring, Automated Clearing House, Competitive Strategies, Credit Cards, Fraud & Security, Mobile Wallets, Transaction Processing
The Internal Revenue Service has begun sending $1,200 stimulus payments to individuals as provided for under the CARES Act. Payments are first going to about 60 million persons for whom the IRS has bank-account information, making direct deposit possible. Others will receive checks. The process is expected to take until April 20, …
Read More »
April 10, 2020
Acquiring, Competitive Strategies, Credit Cards, Debit Cards, E-Commerce, Fraud & Security, Issuing/Originating, Mobile Commerce, Prepaid Cards, Transaction Processing
Fraud prevention firm Kount Inc. released a weekly tracker of e-commerce purchase trends. In mid-March it showed that U.S. online sales of home office furniture and electronics increased 54%.Installment payments provider Klarna Bank AB said data from consumer use of its shopping app shows that e-commerce purchases are shifting to health and beauty and …
Read More »
Digital Transactions Authoritative, insightful and timely information for payments professionals
