News

March, 2023

• 27 March

  An Energized Coinbase Prepares to Do Battle With the SEC

  

  Cryptocurrency marketplace and services provider Coinbase Global Inc. says it’s ready to fight the Securities and Exchange Commission if the commission takes an enforcement action against it. But the SEC’s possible action comes as no surprise to some observers of the crypto market. The SEC last week issued a so-called …
• 27 March

  Eye on Commerce: 81% of Consumers Want ‘Just for Me’ Shopping; Newegg Adopts ChatGPT

  

  What’s the future of shopping going to be like? If consumers have their way, it will be more personalized and convenient, found the “Future of Shopping” report from Synchrony. And online retailer Newegg Commerce Inc. is incorporating artificial intelligence tool ChatGPT into its shopping protocols. With increased sophistication in personalization, …
• 27 March

  First Citizens Buys SVB And Other Digital Transactions News briefs from 3/27/23

  

  First Citizens Bank & Trust Co. reached an agreement with the Federal Deposit Insurance Corp. to buy Silicon Valley Bridge Bank after a competitive bidding process. Terms include FCB’s assumption of $110 billion in assets, $56 billion in deposits, and $72 billion in loans. Starting Monday, the 17 SVB branches will operate as …
• 24 March

  Klarna Adds ChatGPT as an Enhancement to Online Shopping

  

  ChatGPT, the artificial intelligence-based chatbot developed by OpenAI, is being rolled out by Klarna AB to provide what the payments platform calls personalized and intuitive shopping experiences. Online shoppers will be able to ask Klarna, through the chatbot, for product recommendations, as well as receive links to shop recommended products …
• 24 March

  Conflicting Appeals Court Decisions Add Nuance to a CFPB Supreme Court Case

  

  With a federal appeals court ruling on Thursday upholding the Consumer Financial Protection Bureau’s constitutionality, the CFPB, along with its severest critics, find themselves at a crossroads at a time when the agency has become significantly more energetic in overseeing the payments industry. The latest ruling, from the Federal Court …
• 24 March

  PayPal’s Passkey Makes Android Debut And Other Digital Transactions News briefs from 3/24/23

  

  Buy now, pay later provider Affirm Inc. announced its users can deploy the service at VersaClimber, a vendor of exercise machines. Cybersecurity firm McAfee Corp. will offer savings on online protection via a new agreement with Mastercard Inc.’s Easy Savings program, a service through which business cardholders receive rebates on common business expenses. Strike, …
• 23 March

  A2A Payments A Growing Force In Payments

  

  Account-to-account payments is becoming a growing force in the payments landscape, totaling $525 billion in global e-commerce transaction value in 2022, up from $463 billion in 2021, a 13% increase, according to the FIS Global Payments Report 2023. The volume was funneled through about 70 real-time payment schemes providing high-speed …
• 23 March

  COMMENTARY: Gun Sales Can Be Tracked, But MCC Codes Are the Wrong Tool for the Job

  

  Plenty of attention has been given recently to the tracking of gun sales, with no lack of argument for and against. This article lies outside of any market motives or political opinions. It speaks only to the underlying mechanism of tracking purchases. As an engineer and a pragmatist, I can …
• 23 March

  The FTC’s ‘Click to Cancel’ Button And Other Digital Transactions News briefs from 3/23/23

  

  The Federal Trade Commission issued a proposed rule that would require sellers to offer a “click to cancel” button that customers could use to more easily stop subscriptions and recurring payments. A global survey on cross-border payments found 29% of mid-size and large U.S. businesses cite high transaction cost as a challenge, …
• 22 March

  Panera Bread Rolls Out the Amazon One Biometric Tech in Select Locations

  

  Panera Bread on Wednesday announced it is adopting Amazon One, Amazon.com Inc.’s biometric-payment technology, at select locations in the St. Louis area. The deployment of Amazon One, which links a customer’s payment card to his or her palm print, is expected to make it easier for Panera customers to access …