Digital Transactions Authoritative, insightful and timely information for payments professionals
The Judiciary Committee of the U.S. Senate heard testimony Wednesday from witnesses both for and against regulation of credit card interchange. Speakers represented a supermarket chain, merchant groups, Mastercard and Visa, and a bank. The hearing showed that “while more Democrats than Republicans likely would support greater intervention in the …
May, 2022
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5 May
Stripe Launches Financial Connections, Opening the Door Wider to Open Banking
The big payments fintech Stripe Inc. extended its reach into the world of open banking late on Wednesday with the launch of Stripe Financial Connections, an application that allows businesses to establish direct connections with their customers’ bank accounts. The new application will enable businesses to verify accounts for payments …
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4 May
The Secret to Winning and Retaining Merchants? Meet Finova Capital
By: Bryan Brouillard For today’s ISOs and processors, more product offerings mean a bigger, more consistent merchant base. There’s one major problem: Traditional off-the-shelf products tend to be generic, costly, and complicated. Having served over 1 million merchants during my 20 years in merchant acquiring and lending, I’m familiar with …
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4 May
Nettlesome Chargebacks Prove Vulnerable to Mitigation Efforts, a Report Finds
There’s a bit of apparent good news when it comes to chargebacks. The chargeback-to-transaction ratio decreased from 1.94% in 2020 to 1.52% in 2021, and is also down from the remarkable 3.76% seen in 2017. That’s according to the fourth annual “The Year in Chargebacks Report” from Midigator LLC, a …
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4 May
Behind The Clearing House’s Effort to Bring Tokenization to Its Real Time And ACH Services
Against a background of emerging real-time payments and steady growth in automated clearing house transactions, The Clearing House Payments Co. LLC is working to mask those transfers with a technology the payment card business has used for years—tokenization. The job is enormous. “We’re just starting—it’s going to take time,” says …
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4 May
Fiserv Adds Affirm BNPL to Carat and other Digital Transactions News briefs from 5/4/22
Processor Fiserv Inc. announced it is adding buy now, pay later services from Affirm Inc. to its Carat operating system. Affirm joins Bread, Synchrony, and Zip as current providers. Affirm said its service will be the first fully-integrated BNPL provider with Carat.Payments provider Rapyd Financial Networks Ltd. launched Virtual Accounts, intended to allow businesses anywhere globally …
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3 May
Paysafe Adds Visa Direct in the U.K. And Europe, While Eyeing the U.S. Market
To effectively service markets where speed of payment is critical, such as online gaming and cryptocurrency, Paysafe Ltd. announced Tuesday it is integrating Visa Direct in its platform. Paysafe will offer Visa Direct, Visa Inc.’s real-time push-payment network, to merchants, exchanges, operators, and other online businesses in the United Kingdom …
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3 May
Big Merchants And E-Commerce Help Drive Growth for FIS in 2022’s Early Going
Some processors are ready to put the pandemic behind them, but FIS Inc. may have already done it. The big payments processor and banking-services provider early Tuesday reported its merchant revenue increased 15% year-over-year in the first quarter, a number that exceeded the company’s expectations, chief executive Gary Norcross told …
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3 May
Rite Aid Adds Afterpay BNPL and other Digital Transactions News briefs from 5/3/22
Buy now, pay later provider Afterpay said retailer Rite Aid now accepts the installment payment option online and intends to offer it in-store in coming months.MoneyGram International Inc. rebutted claims by the Consumer Financial Protection Bureau that the company is a “repeat offender” with respect to “consumer harm,” citing the fact that the …
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2 May
Global Payments Puts the Pandemic Behind It As It Develops BNPL And Crypto Services
Global Payments Inc. Monday morning reported continued recovery from the pandemic’s impact along with new developments the Atlanta-based company says will deepen its ventures in buy now, pay later, cryptocurrency, and support for banks overseas. Global chief executive Jeff Sloan also said the processor has exited its operations in Russia in …
