News

December, 2022

• 22 December

  Consumers’ Ailing Financial Health Could Cast a Shadow Over the Holiday Shopping Season

  

  As the holiday shopping season heads into the home stretch, consumer concerns over withered buying power due to inflation is expected to tamp down overall spending, according to J.D. Power’s Banking and Payments Intelligence Report. In a November survey of 4,000 retail bank customers nationwide, 40% said they expect to …
• 22 December

  Payments Veteran Bisignano Signs on As Fiserv Chairman and CEO for Another Five Years

  

  Long-time payments executive Frank Bisignano, who has guided payments giant Fiserv Inc. through a tumultuous time in the payments industry, has signed on to lead the company for another five years. Bisignano became chairman of the Brookfield, Wis.-based company in May, following his appointment as chief executive in July 2020. …
• 22 December

  Crime Ring Targets Online Retailers And Other Digital Transactions News briefs from 12/22/22

  

  A fraud ring that appears to be based in Southeast Asia is targeting U.S. retailers and has already committed an estimated $660 million in fraud in stolen laptops, cell phones, computer chips, gaming devices, and other goods just in November, said Signifyd, an online-fraud prevention firm. Signifyd said it has been tracking …
• 21 December

  4 benefits of integrating payments with your software solution

  

  Steven Velasquez, Senior Vice President and Head of Partner Business Development – Elavon As the worlds of technology and financial services converge, providing your merchants and their end users with a connected buying experience is crucial to differentiating your software in an increasingly crowded and competitive market. ISVs are now …
• 21 December

  Paya Partners With 1Retail to Bring Integrated Payments to Small Businesses

  

  Payments provider Paya Inc. has agreed to supply point-of-sale systems supplier 1Retail with technology that enables EMV contactless and stored payments in enterprise resource planning (ERP) software from Acumatica Cloud. The deal provides Paya’s and 1Retail’s mutual customers running the Acumatica ERP platform with a POS system that works in …
• 21 December

  Fraud on P2P Networks Hits 12% of Bank Customers in the U.S., J.D. Power Finds

  

  Some 12% of U.S. customers have lost money to fraud on a peer-to-peer payment network, while 11% have seen it happen to a family member, according to survey results released earlier this month by J.D. Power. The networks cited by the respondents were Zelle, Venmo, and PayPal. For the survey, …
• 21 December

  Mechanics Adopts Finastra RTP Service And Other Digital Transactions News briefs from 12/21/22

  

  Payments-technology provider Finastra said Mechanics Cooperative Bank, a financial institution with $645 million in assets, has adopted the Finastra Payments To Go platform to offer real-time payments via The Clearing House Payments Co. LLC and later through the Federal Reserve’s FedNow network. Digital-security provider IronVest Inc. launched what it calls a “super app” for …
• 20 December

  Worldline Adds Splitit as a BNPL Option for Merchants

  

  Global processor Worldline S.A. will make Splitit, a white-label buy now, pay later provider, available to its roster of merchants and marketplaces, starting first in North America. Announced Tuesday, the integration will enable Worldline merchants to offer card-based installment payments within the existing checkout flow. Merchants can use their brand …
• 20 December

  Study: Peer-to-Peer Payments Are Key To Financial Institutions’ Payment Strategies

  

  As financial institutions look to revamp their payment strategies, peer-to-peer payments are expected to play a key role, says a report from Cornerstone Advisors. During the past three years, nearly 30% of community-based financial institutions have replaced their P2P service or selected a new one, and about one in five …
• 20 December

  CFPB Fines Wells $3.7 Billion And Other Digital Transactions News briefs from 12/20/22

  

  The Consumer Financial Protection Bureau has ordered Wells Fargo Bank to pay $3.7 billion, including a $1.7-billon civil penalty and $2 billion in redress to consumers, for what the bureau says were illegal fees and interest charges on auto and mortgage loans, incorrect charges on checking and savings accounts, and other “incorrect” …