Digital Transactions Authoritative, insightful and timely information for payments professionals
Stablecoins have come in for government scrutiny in recent weeks, but use of this blockchain-based technology to enable immediate business-to-business payments between bank clients is moving forward nonetheless. Late Thursday, Tassat Group Inc. announced Phoenix-based Western Alliance Bank will use the company’s TassatPay technology to allow business clients to pay …
December, 2021
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3 December
Splitit Volume Increases 61% and other Digital Transactions News briefs from 12/3/21
Buy now, pay later specialist Splitit Payments Ltd. said its merchant sales volume for the first two months of the fourth quarter totaled $94 million, a 52% increase quarter-over-quarter and a 61% increase year-over-year. Splitit reported $11 million in merchant sales volume across the holiday shopping weekend, including Black Friday and Cyber …
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2 December
How Square’s Name Change to Block Hints at an Even Stronger Push for Bitcoin
The word “block” may have a number of meanings, but for Square Inc. it could mean a stronger emphasis on blockchain. That’s how some observers interpret the company’s announcement Wednesday afternoon that it is changing its name effective Dec. 10 to Block Inc., a dozen years after its founding as …
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2 December
Eye On Holiday Fraud: Expect a Surge in Attacks for Higher Dollar Value Items
The holiday-shopping season is a busy time not just for merchants and consumers, but for criminals, too. Fraud attacks are projected to increase by at least 50% this holiday-shopping season, and will most likely surpass the 56% increase in attacks during the 2020 holiday season, according to Arkose Labs. Fraudsters …
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2 December
Cart Abandonment Issues Linger and other Digital Transactions News briefs from 12/2/21
Online checkouts remain a challenge for many merchants as 40% report cart abandonment as more than a minor issue and 41% say fraudulent transactions have risen since the pandemic set in, according to Paysafe Ltd.’s “Lost in Transaction” report.PayPal Holdings Inc. said merchants on the Wix.com Ltd. e-commerce platform can offer …
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1 December
With Demand Rising, Stax Acquires CardX To Boost Its Surcharging Efforts
Merchant services company Stax has acquired CardX LLC, a Chicago-based surcharging provider, in an effort to better meet demand for surcharging, especially among enterprise clients. Terms were not disclosed. The deal is the third of 2021 for Orlando, Fla.-based Stax, whose parent company is Fattmerchant . Founded in 2013, CardX has …
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1 December
Consumers Are Largely ‘in the Dark’ About How Much Fintech Apps Access Their Data
Consumers have relied more heavily on payments apps and other fintech technologies since the onset of the pandemic, but few are aware of how much control these apps have over consumer data, according to a survey released Wednesday by The Clearing House Payments Co. LLC. In fact, consumer confidence in …
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1 December
Afterpay’s BNPL Spending up 230% and other Digital Transactions News briefs from 12/1/21
Buy now, pay later spending in the United States through provider Afterpay Ltd. has risen 230% in the past 12 months, with a 34% increase year-over-year during the Black Friday through Cyber Monday period, the company said. Square Inc.’s acquisition of Afterpay, announced in August, is expected to close in the first quarter next …
November, 2021
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30 November
With Delinquencies Rising, Experts Advise Flexible Repayment Plans for BNPL Users
With defaults on buy now, pay later loans on the rise, BNPL providers need to be cognizant that creating a flexible repayment plan can not only help improve recovery rates, but help retain delinquent customers by providing a better customer experience during the collection phase, says a study from digital …
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30 November
In Cyber Monday’s Shopping Frenzy, Smart Phones Cooled off While BNPL Took off
Cyber Monday 2021 is in the books, and a number of lessons have emerged from the biggest online-shopping day of the year regarding how consumers are spending. They didn’t use their mobile phones as much as expected, buy now, pay later picked up some momentum, and inflation asserted itself in …
