News

April, 2023

• 26 April

  As FedNow Gears up for Its July Launch, Specific Applications Beckon, Including Payroll

  

  The official launch of FedNow as a commercial service is set for July, but already the nation’s banking regulator, along with observers, have seen a pattern in where initial participants have been using the real-time payments service. “We’re starting to see more activity around business-to-consumer [payments], related to payroll front …
• 26 April

  Visa Credit Card Volume up 5.2% And Other Digital Transactions News briefs from 4/26/23

  

  Visa Inc.’s U.S. debit card payments volume of $767 billion in its fiscal second quarter increased 9.6% from $699 billion in the quarter ending March 31 a year ago. Its U.S. credit card payments volume of $704 billion was a 10.5% increase from $638 billion a year ago. For all regions, Visa’s …
• 25 April

  Eye on BNPL: Splitit Speeds Checkout; Klarna Introduces Personal Shopping Feed

  

  White-label buy now, pay later provider Splitit Payments Ltd., introduced on Tuesday SplititExpress, a checkout experience that enables consumers to complete checkout in less than two seconds, compared to one-to-two minutes for other BNPL applications, Splitit says. The new feature also supports installment payments via Google Pay and Apple Pay. …
• 25 April

  Fiserv’s Merchant Business Leads First Quarter Growth

  

  Giant processor Fiserv Inc. said its revenue from its merchant business increased to $1.85 billion in the first quarter, a 12.1% increase from $1.65 billion a year ago. Brookfield, Wis.-based Fiserv said its two other segments—financial technology and payments and networks—also had revenue increases. Revenue for the financial technology business …
• 25 April

  Ingenico Releases App Tool And Other Digital Transactions News briefs from 4/25/23

  

  Payments-technology provider Ingenico launched its AXIUM Payment Experience, dubbed APEX, an app intended to make it easier for businesses to craft payments apps. U.S. payments provider InComm Payments introduced a new unit, InComm Payments Brazil Technology Ltda., to expand the company’s operations in Brazil. Embedded-finance specialist Maast launched a set of new technologies aimed at making …
• 24 April

  Eye on Tap to Pay: MagicCube Teams Up With ACI; Fiserv Offers Tap to Pay on Clover

  

  The momentum behind tap to pay technology on smart phones shows no signs of slowing down. MagicCube Inc., which has traditionally focused on providing contactless payment technology to small merchants through off-the-shelf mobile devices, has expanded its reach to small and mid-sized merchants through a partnership with ACI Worldwide Inc. …
• 24 April

  The ACH And Debit Top the Growth Charts, According to the Latest Fed Study

  

  Payments analysts looking for where the growth is can find it in the automated clearing house network and in debit cards. With respect to transaction volume, no U.S. payment system grew faster over the three years from 2018 to 2021 than the ACH, which posted a compound annual growth rate …
• 24 April

  Priority’s New MX POS Platform And Other Digital Transactions News briefs from 4/24/23

  

  Payments provider Priority Technology Holdings Inc. said it is launching MX POS, a point-of-sale platform offering cloud accessibility with analytics and data reporting. Chargebacks911, a platform for chargeback management, advised merchants to streamline subscription-cancellation processes in response to a proposal from the Federal Trade Commission to require merchants to make it as easy to …
• 21 April

  Payroc Launches Tap to Phone And Strengthens Its Hand in Unattended Payments

  

  Payroc LLC has partnered with wireless-network platform provider Bleu to launch tap-to-phone payments for Android and iOS devices in the United States. Merchants will be able to accept payments using a smart phone or tablet device. The rollout of tap-to-phone technology is expected to help merchants meet consumers’ evolving expectations …
• 21 April

  Looking to North American Expansion, the U.K.’s Miura Launches an Android POS Device

  

  The United Kingdom-based point-of-sale technology specialist Miura Systems has launched its latest payment device, an Android-based terminal called the Miura Android Smart POS, or MASP. It’s the latest payment-acceptance device aimed at independent sales organizations and other third-party resellers to take advantage of the open-source capabilities of the Android operating …