News

August, 2022

• 22 August

  Aurus Bring Real-Time Fraud Detection to Its Merchants Through a Riskified Partnership

  

  Fraud-management platform Riskified Ltd. is partnering with Aurus Inc., a payments-platform provider. The deal will enable merchants relying on the Aurus platform to know in real time across multiple sales channels whether to accept or reject an order, which in turn can potentially increase approval rates and reduce fraud costs, …
• 22 August

  CFPB Wants More from Block And Other Digital Transactions News briefs from 8/22/22

  

  The Consumer Financial Protection Bureau has filed a petition with the U.S. District Court for the Northern District of California seeking to require Block Inc. to fully comply with the CFPB’s demands for information related to Block’s Cash App product, according to Bloomberg. Block said it is “disappointed” with the action and …
• 19 August

  Celero Finds A ‘Good Fit’ In Its Deal for Community Bankers Merchant Services

  

  Payments provider Celero Commerce has acquired Community Bankers Merchant Services, a provider of electronic transaction processing through community and regional banks across the country. Terms of the deal, announced late Thursday, were not disclosed. The acquisition of CBMS will open the door for Celero to provide processing services to merchants …
• 19 August

  COMMENTARY: Don’t Even Try to Enter iGaming Without a Digital Wallet Offering

  

  The regulated online sports-betting and casino market in the United States has exploded in recent years following the Supreme Court’s repeal of the Professional and Amateur Sports Protection Act (PASPA) back in 2018. This repeal put the power to regulate single-event sports betting in state hands, with many subsequently passing …
• 19 August

  Blackhawk Network’s Get Sports-Betting Gift Card OK and other Digital Transactions News briefs from 8/19/22

  

  Blackhawk Network has received approval to offer its sports-betting gift card line, including its 2-year-old Game On card, in New York and Louisiana.Community Brands, a software and payments platform for nonprofits and schools, announced it has acquired BigSIS, a vendor of management software for educational institutions. Terms were not disclosed.Payments-technology provider Quisitive …
• 18 August

  BNPL Is Eating Into Credit Card Usage, J.D. Power Finds

  

  Consumers are spending significantly less on their primary credit cards, says J.D. Power’s 2022 U.S. Credit Card Satisfaction Study. Overall, credit card holders are allotting 42% of their monthly spending to their primary credit cards, down from 47% in 2021 and 2020, and down from 50% from 2019. That decline …
• 18 August

  Adyen Embraces POS Hardware with New Devices and a Development Focus

  

  Adyen Inc., a long-time online payments provider, is further boosting its in-store payment acceptance options with the addition of two new point-of-sale devices. Both were designed by Adyen. Dubbed the NYC1 and AMS1 devices, they complement a suite of other POS terminals launched in January. The NYC1 device is designed …
• 18 August

  RMS Acquires OrbaGraph And Other Digital Transactions News briefs from 8/18/22

  

  OrbaGraph, a payment automation firm, said Revenue Management Solutions acquired the company. Private equity firm Thompson Street Capital Partners funded the acquisition. Terms were not disclosed.Dan Price, cofounder of Gravity Payments, which set a minimum starting annual salary of $70,000 for his employees and cut his salary from $1 million …
• 17 August

  Fed Accounts Are Now Open to Fintechs With a Bank Charter Under New Guidelines

  

  For years, payments fintechs with a bank charter have labored under a requirement that, for money movement, deposit-taking, and other related services, they largely had to work with another federally chartered bank. This week, the nation’s top banking regulator announced an important change to its rules that could sweep away …
• 17 August

  Sezzle And Klaviyo Team Up To Make BNPL a Tool To Reduce Shopping Cart Abandonment

  

  To help e-commerce merchants reduce shopping cart abandonment, Sezzle Inc. is partnering with customer platform provider Klaviyo. The deal will allow Klaviyo merchants to offer online shoppers a buy now, pay later loan when they abandon their shopping cart. Shopping cart abandonments are a nettlesome problem for e-commerce merchants, with …