Digital Transactions Authoritative, insightful and timely information for payments professionals
Four-year-old payments provider Green Payments said it has expanded into a new office after what it says was a “record year of portfolio and employee growth.” The company, which focuses on health care, hospitality, and automotive sales, says its portfolio grew 134% last year to a total of $1.2 billon in volume. …
May, 2023
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23 May
What are the Benefits of Cloud-Enabled Processing?
By Tom Byrnes, SVP, Marketing, PayiQ Cloud architecture has made complicated database computing tasks more accessible and unified for everybody. But, until recently, it’s been an open question for many whether the cloud can be a disruptive force in the world of payment processing. Most big processors that are active …
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23 May
Cantaloupe Enlists Amazon to Add Potency to Its Cloud-Based Platform
Cantaloupe Inc., a specialist in micropayments, announced on Tuesday it has teamed up with Amazon Web Services Inc. (AWS) to use AWS cloud services and make AWS its preferred provider to handle transaction volume flowing through Cantaloupe’s merchant network. Cantaloupe, which specializes in payments technology for vending machines and self-service marketplaces, handles …
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23 May
Eye on Biometrics: Amazon One Adds Age Verification; WeChat Adds Palm Payments
Amazon.com Inc. is adding another feature to its Amazon One palm-based identity service, and Chinese site WeChat has brought palm recognition to cameras used for facial recognition. Amazon One has added an age-verification component, Amazon said in a blog post. Launched in 2020, the technology recently expanded beyond Amazon properties …
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23 May
Citizens’ $9 Million CFPB Penalty And Other Digital Transactions News briefs from 5/23/23
As part of a settlement with Citizens Bank, the Consumer Financial Protection Bureau is requiring the bank to pay a $9-million civil money penalty for its alleged failure to “properly manage and respond to customers’ credit card disputes and fraud claims.” The agreement is subject to approval by the court. UATP, a …
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22 May
Eye on Restaurants: SpotOn Releases New POS Hardware; Shift4 Launches SkyTab Contest
In the hotly competitive restaurant point-of-sale market, acquirers are constantly devising new products and enticements to attract these merchants. To that end, SpotOn Transact LLC said Monday it has released three new point-of-sale devices for restaurants, and Shift4 Payments Inc. has enlisted hospitality expert Jon Taffer in a contest. Announced …
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22 May
PayPal Opens Venmo to Teenage Children of PayPal Users
PayPal Holdings Inc. announced early Monday it is launching a version of its Venmo peer-to-peer payment service tailored for teenagers. With the new program, parents holding a Venmo account can open one for a child aged 13 to 17 that will include a Mastercard debit card. Parents can exercise control …
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22 May
Cash Use Drops 2% And Other Digital Transactions News briefs from 5/22/23
The share of all payments using cash declined only modestly to 18% in 2022 from 20% in 2021, while the share of in-person and person-to-person payments has stayed constant at 81%, according to the Diary of Consumer Payment Choice from the Federal Reserve System’s FedCash Services. Sunmi Technology Co., a China-based point-of-sale …
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19 May
Lower Interchange Deal Struck in Canada
Small businesses in Canada will reap lower interchange rates in that country, the Department of Finance Canada announced Thursday. The deal suggests a similar reduction is possible in the United States, the Merchant Payments Coalition quickly responded. Both Mastercard Inc. and Visa Inc. agreed to lower the domestic consumer credit …
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19 May
Eye on Bitcoin: Marathon, Brink Partner To Raise Money for Bitcoin Developers; Jack Dorsey Invests in Azteco
Marathon Digital Holdings Inc., a digital-asset company that supports the Bitcoin ecosystem, is teaming up with Brink Technology to raise $1 million to support Bitcoin Core developers that maintain the Bitcoin protocol. Brink Technology works to strengthen the Bitcoin protocol and network. The Bitcoin protocol enables Bitcoin to function as …
