Digital Transactions Authoritative, insightful and timely information for payments professionals
E-commerce platform provider WooCommerce is partnering with DePay, a decentralized-payment processor, to enable its sellers to accept cryptocurrency directly to a crypto wallet for immediate settlement. Intermediaries that credit the merchant’s account after processing a crypto transaction would be eliminated. DePay supports tens of thousands of cryptocurrency tokens and their …
November, 2022
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22 November
Clunky Checkouts Are Hampering Sales for Small Sellers, a Paysafe Report Finds
The surge in online shopping touched off by the pandemic has turned out to be something of a mixed blessing for smaller merchants. While it brought in a wave of new shoppers, it has also exposed a rising problem with glitchy checkouts at times of high demand, according to a …
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22 November
A Boon for Embedded Finance And Other Digital Transactions News briefs from 11/22/22
Revenue from global embedded financial services will exceed $183 billion by 2027, up from $65 billion in 2022, according to a report from Juniper Research. It classifies embedded finance as when financial services, such as banking, insurance, or lending, are integrated into non-financial user experiences. American Express Co. released a personal card application …
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21 November
Help your merchants take the sting out of the cost of payment acceptance
By Michelle Jordan, SVP and Head of Payment Optimization The weighted average cost of payment acceptance is expected to have doubled from around 0.8% in 2009 to over 1.6% by 2025.[i] Fueled by the abundance of rewards cards, the shift to online payments, and the rise of commercial purchasing cards, …
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21 November
Payment Processor And Lender Newtek Gets the Fed’s Blessing To Be a Bank Holding Company
Newtek Business Services Corp., a small-business lender and payment processor, has received approval from the Federal Reserve to become a bank-holding company and financial-holding company through its acquisition of National Bank of New York City. Newtek entered into an agreement to acquire the bank in August 2021. Approval of the …
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21 November
Cyber Monday Could See a Big Spending Boost
With just days until the 2022 holiday shopping season begins in earnest, retailers may have a glimmer of hope for more sales if a new survey from Deloitte bears out. In its 2022 Black Friday-Cyber Monday Survey, consulting firm Deloitte predicts that consumers will spend on average $205 on Black …
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21 November
Amazon’s Special BNPL Offer And Other Digital Transactions News briefs from 11/21/22
Amazon.com Inc. said it will offer buy now, pay later capability through Nov. 28 via its BNPL partner Affirm Inc. Customers who spend $50 or more will get the option of splitting the payment into three equal monthly installments at zero-percent interest. In related news, online travel platform Expedia Group said U.S. users …
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18 November
Visa’s Kelly Will Step Aside as McInerney Prepares for the CEO Role
Payments giant Visa Inc. announced Alfred F. Kelly Jr., a former American Express Co. executive who joined Visa in 2016 as chief executive, will leave that role as Ryan McInerney, Visa’s current president, assumes the title Feb. 1. McInerney came to Visa in 2013 having held the chief executive of …
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18 November
Plaid Rolls Out Signal to Unlock Instant ACH Transactions And Attack Return Risk
Looking to speed payments through the automated clearing house while reducing risk, Plaid Inc. announced late Thursday the rollout of Signal, a machine-learning risk engine. Plaid has been piloting Signal for more than a year with select customers that generate high ACH volumes. To accelerate ACH transactions and make them …
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18 November
20% of Consumers Plan To Use a BNPL Plan And Other Digital Transactions News briefs from 11/18/22
Twenty percent of consumers plan to use a buy now, pay later plan during the holiday shopping season, according to an October survey of more than 1,000 consumers by the Electronic Transactions Association and The Strawhecker Group. An additional 20% were “on the fence” about using BNPL. In related news, Vagaro, a …
