Digital Transactions Authoritative, insightful and timely information for payments professionals
Presto Automation Inc., a provider of voice ordering and other payments technology for drive-through restaurants, reported March-quarter revenue of $6.6 million, down 12% year-over-year. The company says it swung to a net loss of $15.7 million, compared to a gain last year of $9 million, owing to a change in the fair …
May, 2023
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18 May
Galileo Will Sell Its Apps on Amazon’s AWS Marketplace
Galileo Financial Technologies LLC has reached an agreement with Amazon.com to make its platform available to buyers on Amazon’s AWS Marketplace. AWS marketplace is a digital catalog that features software listings from independent software vendors. Businesses use it to find software that runs on Amazon Web Services (AWS), a unit …
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18 May
Lightspeed Touts Results As It Tightens Its Focus on Restaurants
Few, if any, business sectors are as hotly competitive these days for payments providers as hospitality, and in particular, restaurants. Major firms from Block Inc.’s Square unit to Toast Inc. to Shift4 Payments Inc. have big stakes in this market. But that hasn’t stopped one other entrant, Lightspeed Commerce Inc., …
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18 May
Ripple CBDC Platform Unveiled And Other Digital Transactions News briefs from 5/18/23
Blockchain company Ripple unveiled its Ripple CBDC Platform, technology supporting central banks, governments, and financial institutions in issuing central bank digital currencies. More than 90% of the world’s countries are at some stage of development toward a CBDC, according to the Atlantic Council. Matera, a U.S.-based instant payment and QR code technology …
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17 May
Eye on Cybercrime: Apple Tackles App Store Fraud; No Slowdown for ID Theft
Cybercrime remains a scourge difficult to tame, according to data from Apple Inc., the Identity Theft Resource Center, and LexisNexis Risk Solutions. Apple Inc. late Tuesday revealed it stopped more than $2 billion in fraudulent transactions in its app store in 2022. In addition, the technology giant blocked nearly 3.9 …
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17 May
Sezzle Makes Room for Pay-in-2 BNPL Product
Sezzle is fine-tuning the buy now, pay later experience with the debut of its Pay-in-2 product. Just as its name suggests, the new product splits transactions into two payments, which can help expand BNPL to new categories, such as grocery, monthly subscriptions, and other high-frequency categories, Sezzle says. Consumers choosing …
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17 May
Engage’s Transaction Twist And Other Digital Transactions News briefs from 5/17/23
A startup fintech called Engage has launched a communication channel allowing customers and merchants to interact via purchase transactions through card networks. In the hotly contested hospitality point-of-sale market, Lightspeed Commerce Inc. launched the newest version of its Lightspeed Restaurant set of technologies, which is immediately available in the U.S. market. Security firm Sophos said it …
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16 May
Square Launches Square KDS in a Move to Gain More Restaurant POS
Square, the point-of-sale and e-commerce unit of Block Inc., is the latest technology provider to turn up the heat in the already hotly competitive restaurant POS market. It announced Tuesday the launch of Square KDS, a kitchen-display system on the Android operating platform, and the debut of Square for Franchises, …
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16 May
Paysafe Gains Momentum As CEO Lowthers Completes His First Year at the Helm
Paysafe Ltd. has been all about growth since Bruce Lowthers took over a year ago as chief executive, and on Tuesday he contended the London-based processor is expanding nicely in its key wallet and iGaming markets. “We returned to growth in the second half of 2022,” Lowthers told equity analysts …
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16 May
ACI Completes FedNow Certification And Other Digital Transactions News briefs from 5/16/23
Payments provider ACI Worldwide Inc. said it has completed testing and certification necessary to participate in the Federal Reserve’s FedNow real-time payment service, set to launch in July. Identity-verification specialist Veriff said it will provide its services through processor MassPay’s payments-orchestration platform. Warning of more fraud as peer-to-peer and real-time payments gain volume, technology firm ComplyAdvantage launched Fraud Detection, which …
