Digital Transactions Authoritative, insightful and timely information for payments professionals
The city of El Monte, Calif., has extended its agreement with GiveCard, a prepaid debit card platform, to manage the city’s Guaranteed Income pilot program, which embraces 125 low-income participants. Togetherwork, a payments provider specializing in pet-care businesses, has acquired Petexec, a software provider for the same market. Terms were not …
December, 2024
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19 December
CapOne Inches Closer to Discover and other Digital Transactions News briefs from 12/19/24
Capital One Financial Corp.’s proposal to acquire Discover Financial Services for $35.3-billion, announced in February, has been approved by the Office of the Delaware State Bank Commissioner. The proposal includes Discover Bank. Shareholders in both companies are set to vote on the transaction Feb. 18, 2025. Visa Inc. has closed on its offer to acquire …
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18 December
A CFPB Circular Warns of Illegal Rewards Practices; Shareholders Will Vote on the Cap One-Discover Deal
The Consumer Financial Protection Bureau early Wednesday released a circular to law-enforcement agencies warning that operators of credit card rewards may be violating a prohibition against unfair, deceptive, or abusive acts or practices by devaluing earned credit card points and airline miles. The CFPB issued the circular in part due …
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13 December
Extra Bill Pay Costs up 18%, doxo Says and other Digital Transactions News briefs from 12/13/24
So-called hidden costs—such as overdraft charges, late fees, and identity fraud—linked to bill payments amount to $196 billion on an annual basis, up 18% from last year, according to a study from bill-payment platform doxo. Mastercard Inc. released its 2025 payment trends forecast that discusses AI, small business, and contactless payments, which …
November, 2024
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15 November
Celero Marks Another Acquisition and other Digital Transactions News briefs from 11/15/24
Payments provider Celero Commerce acquired Precision Payments. Celero said its total annual North America card processing volume is expected to exceed $28 billion with the addition. Terms were not disclosed. NCR Atleos Corp. said it will provide its Cashzone Network ATMs in United Kingdom-based grocer Waitrose stores. Payhawk Ltd. announced an integration with Mastercard …
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12 November
Shift4 Concedes Some Shortfalls While Posting a 49% Rise in End-to-End Volume
Shift4 Payments Inc. reported a strong third quarter early Tuesday, but by some measures it wasn’t strong enough, and the big processor’s top management frankly admitted as much in a morning call with equity analysts to discuss the results. “We’re clearly number-one in hospitality payments in the world,” said the …
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4 November
Shopify Taps Coveo’s AI and other Digital Transactions News briefs from 11/4/24
Artificial intelligence platform Coveo said it will provide AI commerce services to Shopify Inc. enterprise customers. NCR Atleos Corp. announced Rontec, a Shell and Esso BP station operator in the United Kingdom, has extended its agreement to use Atleos for ATM operations at 267 gas stations. The Access Group, a United Kingdom-based developer …
October, 2024
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18 October
How Deals And Tech Are Helping AmEx Bulk up in the Hot Restaurant Market
American Express Co.’s top brass early Friday stressed the company’s technology build-up in the red-hot restaurant category while stressing a need to spur cardholder spending overall as the card company presented its third-quarter 2024 results. Revenue in the quarter hit $16.6 billion, up 8% from the September quarter last year, …
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11 October
Eye on Acquiring: Windsor Picks Manhattan POS Tech; Bluu Acquires JS Merchant Solution
Women’s apparel retailer Windsor Inc. will deploy the Manhattan Active Point of Sale technology from Manhattan Associates Inc. in its 350 locations. Also, merchant services firm Bluu Inc. will acquire JS Merchant Solution Inc., which does business as Smart Merchant Solution. Atlanta-based Manhattan Associates says the Windsor installation of its …
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9 October
BMO’s PaySmart Launches and other Digital Transactions News briefs from 10/9/24
Canada-based BMO Financial Group launched PaySmart in the U.S. market. PaySmart is a credit card feature that lets users divide transactions of $100 or more into installments over three, six, or 12 months at a monthly fee. Travel payments network UATP has added buy now, pay later platform Floa as another installment payment option. …
