Digital Transactions Authoritative, insightful and timely information for payments professionals
Consumers worldwide went online in unprecedented numbers following the onset of the pandemic, but along with that trend comes an increasing need to establish the identities of users, according to a report issued Monday by Juniper Research. As a result, revenue for companies around the world that develop technology that …
January, 2022
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31 January
85% Cite Real-Time Payments as Critical and other Digital Transactions News briefs from 1/31/22
A survey of 260 corporate executives found that 85% said the availability of real-time payments is the most important factor when choosing a bank partner, said Citizens Financial Group Inc.Mozper, a contactless card intended to help educate children on responsible payments, launched in Brazil on the Visa Inc. network.A mobile-commerce startup …
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28 January
QR Code Transactions Are on the Rise, But Now So Are Concerns About QR Code Fraud
With the Covid-19 pandemic helping fuel broad adoption of Quick Response codes by merchants for payments and ordering, it was only a matter of time before criminals exploited the contactless technology. Fraudsters are creating fake QR codes that, when scanned, take consumers to a bogus landing page that collects payment …
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28 January
The Fed Releases Some FedNow Fees and other Digital Transactions News briefs from 1/28/22
The Federal Reserve’s FedNow real-time payments platform will charge a monthly $25 participation fee for each receiving routing transit number, 4.5 cents per credit transfer to be paid by sender, and a penny for a request for payment message, paid by requestor. The Fed expects to release a full fee schedule later this …
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28 January
A Re-Energized Visa Sees Growth Coming From ‘BNPL, Crypto, And Wallets’
Visa Inc.’s top executives made it plain Thursday afternoon that the story of the company’s growth into the near future is threefold, including cryptocurrency, cross-border transactions, and the buy now, pay later trend. “Visa is enabling scale for BNPL, crypto, and wallets,” Visa chief executive Alfred Kelly told equity analysts …
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27 January
MagicCube Launches Its Cloud-based Acceptance Platform For Mobile Devices
The vision of turning mobile devices into tap-and-go POS terminals took a big step forward Thursday as MagicCube Inc. announced i-Accept Cloud, an open, cloud-based softPOS acceptance platform. i-Accept Cloud is expected to simplify the creation of new merchant payment acceptance and digital commerce solutions. By connecting the currently siloed …
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27 January
Mastercard: All in on Open Banking, But Not on Amazon’s Fee Dispute With Visa
Top executives at Mastercard Inc. made it plain early Thursday the card network is determined to develop its account-to-account payment capabilities, while maintaining its distance from the dispute between its rival Visa Inc. and the e-commerce juggernaut Amazon.com Inc. over transaction pricing. “That’s fundamentally a question for Visa and Amazon,” …
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27 January
Strawhecker Ranks Gateways and other Digital Transactions News briefs from 1/27/22
Consulting firm The Strawhecker Group announced its list of best-performing payment gateways in a range of categories. CSG Forte and FIS (Express) were co-winners in the best-performing gateway category, with JPMorgan Chase (Orbital) as runner-up. Elavon (Fusebox) won for fastest transactions.With the majority of buy now, pay later accounts going unreported to …
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26 January
Diem’s Troubled Story Could Be Winding Down With Reports of Its Efforts to Dissolve
The turbulent story of the Diem digital currency recorded yet another twist with reports on Tuesday that the two-and-a-half-year-old project is seeking to dispose of its assets. The latest news, first reported by Bloomberg, comes less than a year after the Diem Association moved its headquarters from Switzerland to the …
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26 January
Plaid’s Portal Looks to Give Consumers More Control Over Data Shared Via Apps And Fintechs
On Tuesday, Plaid Inc., a bellwether of the open-banking movement, announced the availability of Plaid Portal US, a privacy tool for consumers using Plaid’s technology. The move comes as firms that connect financial-services providers with consumer-account data seek to help account owners manage how their information is distributed and used by …
