News

May, 2023

• 1 May

  Amazon Offers Richer Rewards For its Cobranded Visa Cards

  

  Amazon.com Inc. has beefed up the rewards for its Visa-branded cards issued by Chase, in response to cardholder’s desire for travel-related perks and the ability to earn more rewards for day-to-day expenses, such as commuting. Additionally, Amazon is allowing cardholders to redeem rewards daily and has rebranded its cards. Prime …
• 1 May

  Global Payments Looks for Big Results From EVO As Long-Time CEO Sloan Prepares to Leave

  

  The big processor Global Payments Inc. on Monday morning announced upbeat first-quarter results but also said its chief executive, Jeff Sloan, is departing after nine years in the role. Sloan, who will leave Global Payments June 1 and will be succeeded by long-time president and chief operating officer Cameron Bready, …
• 1 May

  TreviPay Marks Spryker Integration And Other Digital Transactions News briefs from 5/1/23

  

  Business-to-business payments specialist TreviPay said it will integrate its services with Spryker, a commerce platform for enterprise businesses. Chargeback resolution provider Chargebacks911 issued a plea for “regulatory discretion” as the financial technology industry develops. In April, Chargebacks911 was accused by the Federal Trade Commission and the Florida attorney general of allegedly using multiple techniques …

April, 2023

• 28 April

  The Addition of Citi Flex Pay To Amazon Pay Could Be a Winner For Amazon and Citibank

  

  Amazon.com Inc.’s deal with Citibank N.A. to add Citi Flex Pay, the card issuer’s installment-loan program, to its Amazon Pay digital wallet is expected to pay big dividends for both parties. By adding Citi Flex Pay, Amazon Pay will gain access to one of the largest cardholder bases in the …
• 28 April

  How Tighter Money And Longer Diligence Have Slowed a Once ‘Frothy’ M&A Market

  

  A sort of disequilibrium has set in in payments mergers and acquisitions, leading to fewer deals and stretched out times to conclude the deals that do close, according to M&A experts who spoke this week at the Electronic Transactions Association’s Transact conference in Atlanta. The new dispensation contrasts sharply with …
• 28 April

  Amazon’s Cobranded Card Revenue up And Other Digital Transactions News briefs from 4/28/23

  

  Amazon.com Inc. reported first-quarter revenue from “other sources” of $1.03 billion, up 55% year-over-year. The “other” category includes revenue from the massive online retailer’s cobranded credit cards. Total revenue from products and services for the quarter was $127.4 billion, up 9.5% year-over-year. Law firm BakerHostetler released its 2023 Data Security Incident Response …
• 27 April

  ‘We’re Well-Positioned’ for FedNow, Says Mastercard’s CEO

  

  The impending arrival of a commercial real-time payments service from no less an entity than the Federal Reserve will be a major event, but one Mastercard Inc.’s top brass says the card company will take in stride. “We’ll have to wait and see how it plays out, we’re well-positioned,” Michael …
• 27 April

  Shopify Strives To Reduce False Positives And Increase Customer Acquisition

  

  Vesta, a transaction-guarantee platform for online purchases, has partnered with e-commerce platform provider Shopify Inc. to make its fraud-fighting solutions available to Shopify merchants. The addition of Vesta is expected to help Shopify sellers in the United States, Canada, and Mexico reduce false positives and increase approval rates for legitimate …
• 27 April

  FIS Profit up 17.5% And Other Digital Transactions News briefs from 4/27/23

  

  Payment processor and core banking provider FIS Inc. posted first quarter revenue of $3.51 billion, a 0.6% increase from $3.49 billion in the same quarter in 2022. Its net income of $141 million was 17.5% greater than the $120 million profit a year ago. FIS’s merchant solutions segment had revenue of $1.1 …
• 26 April

  Dwolla Expands Partner Ecosystem 45% in Q1

  

  Citing increased demand for low-cost account-to-account payment solutions, digital-payments fintech Dwolla Inc. announced it grew its partner ecosystem 45% during the first quarter of 2023, bringing the total number of partners to 40. Among the companies to partner with Des Moines, Iowa-based Dwolla is financial data aggregator Flinks, a Montreal-based …