Digital Transactions Authoritative, insightful and timely information for payments professionals
The buy now, pay later trend may have come under scrutiny lately by regulators, but companies enabling BNPL warn sellers and payments providers risk losing merchant volume and younger consumers if they don’t offer the installment option online and at the point of sale. “You’ll see volume attrition without merchant …
April, 2022
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11 April
Wyre’s Sale Terms Inaccurate and other Digital Transactions News briefs from 4/11/22
Ether Capital Corp. issued a statement correcting media reports that its portfolio company, cryptocurrency startup Wyre Payments Inc., has agreed to be acquired by payments fintech Bolt Financial Inc., for $1.5 billion. There has been no disclosure of the proposed transaction terms, Ether said.American Airlines Center, home of the National Basketball Association’s …
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8 April
Eye on AmEx: Reaching Fintechs Via i2c; Humanitarian Relief in Ukraine
In an effort to enable fintechs to leverage its brand, network capabilities, and cardholder perks in North America and other regions, American Express Co. on Friday announced it is expanding its working relationship with payment and banking solutions provider i2c Inc. The expanded agreement builds upon AmEx’s working relationship with …
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8 April
With New Sheriffs in Town, Payment Players Can Expect Stiffer Scrutiny, a Lobbyist Warns
Payments companies have sensed increasing regulatory pressure since the Biden Administration’s inauguration last year, and now experts who follow developments in Washington, D.C., are confirming it. After a relatively “light touch” during the Trump Administration, “the [regulatory] pendulum has come back this way” toward a harder look at payments practices, …
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8 April
New CEO at Paysafe and other Digital Transactions News briefs from 4/8/22
Philip McHugh is stepping down as chief executive of Paysafe Ltd. and is being succeeded by Bruce Lowthers, a 15-year veteran of FIS Inc. McHugh, who is also leaving Paysafe’s board, is departing after two quarters in which Paysafe’s crucial digital-wallet business has struggled with declining payment volumes.BankProv, a unit …
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7 April
Adyen Poised To Offer Tap to Pay on iPhone To U.S. Merchants
Processor Adyen NV is poised to be among the first to offer Apple Inc.’s Tap to Pay on iPhone service to U.S. merchants. Sometime later this year the service will launch, enabling compatible iPhones to accept contactless payments without the use of additional hardware or payment terminals. Announced in February …
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7 April
Bolt To Acquire Wyre and other Digital Transactions News briefs from 4/7/22
The commerce platform Bolt has agreed to acquire the cryptocurrency provider Wyre to enable consumers to spend crypto at Bolt merchants, which will receive fiat currency. Terms of the deal, which is expected to close before year’s end, were not disclosed.In related news, payments platform Nium said it has partnered with cryptocurrency specialist BitPay to allow …
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7 April
Big Banks’ Interest in Launching Zelle Into Retail Payments Puzzles Some Observers
A serious expansion of the Zelle peer-to-peer payments network or just saber rattling to get a better deal from the card networks? That’s one question raised by payments-industry experts after The Wall Street Journal reported Wednesday that Bank of America Corp. and Wells Fargo & Co.—two of the seven big financial institutions …
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6 April
Fraud Is Trending Down Overall, But Businesses Must Remain Vigilant In The Fight Against It, AFP Says
Payment fraud continued to decline in 2021 with 71% of organizations reporting they have been victims of payments fraud activity, compared to 74% in 2020 and 81% in 2019, according to the Association for Financial Professionals’ annual fraud report. The 2021 results are the lowest since 2014. The Bethesda, Md.-based …
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6 April
Zelle for Retail Payments? and other Digital Transactions News briefs from 4/6/22
At least a couple of banks—Bank of America Corp. and Wells Fargo & Co.—are proponents of expanding the Zelle peer-to-peer payments service to retail payments, The Wall Street Journal reported. Owned by Early Warning Services LLC, itself owned by seven of the largest U.S. banks including BofA and Wells, Zelle offers account-to-account payments. The …
