News

January, 2023

• 25 January

  Data Breaches in 2022 Hit a Near Record High As Notices Increasingly Omit Information

  

  Data breaches remained at near record levels in 2022, according to the Identity Theft Resource Center’s annual data breach report. The number of breaches totaled 1,802 last year, just 60 short of the all-time high recorded in 2021, making the total number of breaches in 2022 the second-highest on record. …
• 25 January

  Eye on Money Transfer: MoneyGram Harnesses a Messaging App; Grupo Coppel’s U.S. App

  

  Money-transfer firms are looking for new ways to leverage their extensive international networks, with the latest development emerging early Wednesday as MoneyGram international Inc. announced it is opening its system to BOTIM, a voice-over-Internet protocol (VOIP) provider with 90 million users in the Middle East and Africa. The deal, which …
• 25 January

  Nuvei Lands L.A. Processor And Other Digital Transactions News briefs from 1/25/23

  

  The Colombia-based payments processor Redeban has adopted payments-technology provider Nuvei Corp.’s Nuvei for Payments embedded-payments platform. Nuvei earlier this month agreed to acquire payments provider Paya Holdings Inc. in a deal valued at $1.3 billion. Wafi Inc. launched Wafi.cash, a payment processing platform for e-commerce transactions that purports to eliminate redundant entities in the payment …
• 24 January

  To Be Competitive, Banks May Need a Mobile Wallet That Leverages Their Retail Banking Prowess

  

  If banks are to compete against the likes of Apple Pay and Google Wallet in the mobile-wallet arena, they are going to have to provide value-added features that leverage their retail-banking products, such as money management and loyalty accrual and redemption. “The killer question is how to disrupt something that …
• 24 January

  Debit Cards Are Most Popular for Subscription Payments, a Recurly Report Says

  

  The most popular payment method for funding subscription payments is a debit card, with the checking account-connected option being used for 52.9% of global subscription payments. Subscription platform Recurly Inc. released this and other data in its “2023 State of Subscriptions” report Tuesday. The second most popular option was credit …
• 24 January

  iVertical Picks Sionic And Other Digital Transactions News briefs from 1/24/23

  

  Payments provider Sionic said it has agreed to provide its Pay-by-Bank faster-payments service to payments platform iVertical Payments Network to allow consumers to load gift cards directly from their bank accounts. A buy now, pay later startup called Tranch said it has raised $100 million in seed equity and debt funding. The round was …
• 23 January

  Working With Early Warning, Big Banks Eye a New Digital Wallet

  

  A major venture by some of the country’s biggest banks to launch a digital wallet using a platform from Early Warning Services LLC, news of which emerged early Monday, is likely to benefit from the banks’ technology resources. But it could be hindered by consumers’ entrenched preferences for major-brand wallets …
• 23 January

  Dealer Pay Enhances Its POS Platform To Enable Better Customer Experience for Auto Dealerships

  

  Dealer Pay, a provider of point-of-sale technology to franchise and independent auto dealers, has updated its platform with several new features intended to deliver a better customer experience. Dealer Pay’s “send payment request” features enable dealers to collect payments directly from the customer via text messaging or email. Dealers can …
• 23 January

  AXIUM: The Future of Payments

  Consumers demand choice and convenience, and meeting those demands is driving massive change in the payments industry. Retailers need payment technology that does more than just accept payment cards. Terminals must give retailers the flexibility to accept all types of payments, from contactless and mobile wallets to displaying a QR …
• 23 January

  Marqeta’s & Deloitte’s Payments Plan Other Digital Transactions News briefs from 1/23/23

  

  Payments fintech Marqeta Inc. said it has entered a strategic alliance with consulting firm Deloitte to help banks, fintechs, and payments providers quicken the pace of payments modernization. Grazzy, an app provider for same-day earnings and other employee payments, announced a $4.25-million seed funding round from Next Coast Ventures and Tuesday Capital. …