News

September, 2021

• 28 September

  Mastercard Joins An Increasingly Crowded BNPL Field With the Debut Of Mastercard Installments

  

  Mastercard Inc. joined the BNPL fray Tuesday with the introduction of Mastercard Installments. Consumers can access BNPL offers, either pre-approved through their lender’s mobile banking app or through instant approval at checkout, that can be used online or in-store wherever Mastercard is accepted. Consumers can choose from a variety of …
• 28 September

  BitPay Pairs With Verifone to Bring Crypto Acceptance to More Stores

  

  BitPay Inc. and Verifone Inc. early Tuesday said they are collaborating on a service that later this year will allow U.S. merchants using Verifone devices to accept as many as 11 cryptocurrencies in-store and online.  Consumers will be able to pay with a broad array of crypto wallets, including one …
• 28 September

  39% Would Ditch Banks and other Digital Transactions News briefs from 9/28/21

  

  Thirty-nine percent of consumers would ditch traditional banking for peer-to-peer and social media app payments, found a survey of 1,000 U.S. consumers from GoCardless, which provides account-to-account payment services. Younger consumers are much more inclined than older consumers with 54% of Gen Z, the youngest, and 56% of Millennials, willing to …
• 27 September

  MX Technologies Partners With Pinwheel to Enhance Its Open Banking Platform

  

  MX Technologies Inc. continues to grow its ecosystem of open-banking partners, announcing Monday it is partnering with Pinwheel, provider of an application programming interface for payroll applications. The deal will provide financial-technology service providers with expanded coverage of income verification and improved underwriting models for better lending decisions, which in …
• 27 September

  More Retailers Offer Apple Pay Than Offer Rivals, Report Finds

  

  A new report based on the practices of 100 retailers finds that Apple Pay is available at more of them—97%—than its chief competitors Google Pay and Samsung Pay. That’s according to the 2021 Omnichannel Retail Index, released Monday by FitForCommerce, a retail consultancy, in conjunction with the National Retail Federation. …
• 27 September

  CapOne Targets False Declines Using Signifyd and other Digital Transactions News briefs from 9/27/21

  

  Capital One has partnered with fraud-detection firm Signifyd Inc. to raise authorization rates and reduce mistakenly declined transactions on Cap One credit card transactions.The Internal Revenue Service on Friday sent more than 430,000 Advance Child Tax Credit payments via same-day ACH on the automated clearing house network, according to Nacha, the governing body …
• 24 September

  Startup Clik2pay Enables Consumers to Tap Their Bank Account For Online Purchases

  

  Seeking to provide online merchants with a lower-cost payment option and consumers a better user experience, a 3-year-old, Toronto-based payment-service startup called Clik2pay is enabling Canadian consumers to pay for online purchases directly from their bank accounts at participating merchants. The new payment option, which launched Thursday, leverages the Interac …
• 24 September

  AmEx Expands Virtual Card Offerings and other Digital Transactions News briefs from 9/24/21

  

  American Express Co. said it is working with Extend, a virtual card specialist, to expand its virtual card options for U.S. businesses.Gift card provider Factor4 LLC said it is work with SavorConnect, a cloud-based integration platform, to make its gift cards that can used online, in stores, and with mobile devices available on …
• 23 September

  BNPL Consumers Are Not Shy About Using Credit Products, a TransUnion Report Finds

  

  New research suggests buy now, pay later users may not be shunning traditional retail credit products in favor of the installment-payment option. That’s one finding from TransUnion LLC’s “Understanding the Evolving Point-of-Sale” report released Thursday. The data show that 76% of the point-of-sale financing applicants had a retail card in …
• 23 September

  A New Report Shows How the Growth in E-Commerce Is Fueling a Big Rise in CNP Fraud

  

  Despite the percentage of card-not-present fraud transactions steadily hovering in the 10% to 13% range between the first quarter of 2020 and the same period in 2021, the average ticket size for fraudulent CNP transactions has steadily grown during that time, says a report from fraud-prevention platform provider Vesta Corp. …