News

February, 2023

• 17 February

  Card Skimming Grew Dramatically Last Year And Shows No Signs of Slowing Down

  

  Instances of card skimming were up in the United States in 2022, with more than 161,000 impacted cards identified, a five-fold increase over 2021, and a more than three-fold increase in the total number of cards compromised, according to FICO (formerly Fair Isaac Co.). In addition, 3,000 unique financial institutions …
• 17 February

  Zelle Sees Promising Growth in Small Business Payments As It Confronts Senators’ Scam Probe

  

  Early Warning Services LLC, operator of the Zelle peer-to-peer payments network, is celebrating a year just passed in which both dollar volume and transactions processed rose at double-digit rates. But the company also has its eye on promising markets like small businesses and on countering charges from U.S. Senators about …
• 17 February

  Entrust Group Enlists Stripe for Card and ACH Payments And Other Digital Transactions News briefs from 2/17/23

  

  Entrust Group, an IRA administrator, said it is working with Stripe Inc. to ease credit card and automated clearing house payments for client contributions. Block Inc.’s Cash App will support a cash-giveaway promotion for Moe’s Southwest Grill on Feb. 24, with the total payout expected to be $25,000. U.S. Bank launched its Business …
• 16 February

  Zelle Posts Strong Increases in Volume And Financial Institution Membership

  

  Zelle, the peer-to-peer payment network operated by Early Warning Services LLC, reported Thursday that consumers and businesses sent 2.3 billion in payments totaling $629 billion through the network in 2022. On a year-over-year basis, transaction volumes through Zelle increased 26%, and total transaction value increased 28%. Small businesses continue to be …
• 16 February

  Observers Split on Banking Groups’ Effort to Get the Fed to Extend Time for Debit Compliance

  

  Industry opinions are mixed regarding a move by banking trade groups to plead for more time to act on a ruling issued in October by the Federal Reserve. The ruling orders all banks to comply by July 1 with an 11-year-old requirement that merchants have a choice of at least …
• 16 February

  Repay Sells a Software Unit And Other Digital Transactions News briefs from 2/16/23

  

  Payments provider Repay Holdings Corp. said it has sold its Blue Cow Software LLC unit to PDI Technologies Inc., a software provider for convenience stores and petroleum-related companies. Terms were not disclosed. Blue Cow came to Repay in June 2021 as a result of Repay’s $503-million acquisition of BillingTree in 2021. Digital identity and fraud prevention …
• 15 February

  Paymentus Partners With Citizens to Provide Real-Time Bill Payments

  

  Citizens Financial Group is partnering with Paymentus Corp., a Charlotte, N.C., provider of bill-payment processing, to offer real-time electronic bill payment and money-transfer services for retail banking customers nationwide. Citizens will be rolling out Paymentus’s Bill Center and Loan Payments products. Bill Center provides users with a view of their bills …
• 15 February

  Cantaloupe Launches a Push for a Kiosk Aimed at Wheelchair-Bound And Vision-Impaired Users

  

  Cantaloupe Inc., a specialist in payments technology for vending machines and self-service marketplaces, introduced a marketing push early Wednesday for The 46 Kiosk, a terminal featuring a 46-inch screen aimed at users in wheelchairs and those with vision issues. The device, which Malvern, Pa.-based Cantaloupe says is compliant with the …
• 15 February

  NRS Makes Canada Move And Other Digital Transactions News briefs from 2/15/23

  

  National Retail Solutions, a point-of-sale platform provider, said it is expanding to Canada. Currently, select retailers in Toronto are deploying NRS terminals with plans to add more cities in coming months. Payments platform Nayax Ltd. said EV Meter, a technology firm working with Nayax on new electric-vehicle charging platforms, will support EV …
• 14 February

  Eye on Credit Cards: Bread Updates Financials; Choice Hotels’ Cobranded Card With Wells Fargo

  

  Bread Financial Holdings Inc., a Columbus, Ohio-based provider of payments, lending, and savings services, on Tuesday released a performance update for January that showed strong gains in credit card and other loans held, but also showed a substantially higher delinquency rate. For the month of January, credit card and other …