Digital Transactions Authoritative, insightful and timely information for payments professionals
Payments provider EVO Payments Inc. reported third-quarter revenue of $135 million, a 15.4% increase from the same quarter in 2020. Fifty-nine percent, or $79.4 million, of its revenue came from the Americas and the remainder, $55.6 million, from EVO’s European business. Net income of $7.1 million for the quarter was down 51.4% …
November, 2021
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3 November
Klarna Launches a New App That Brings BNPL Capability to Any Online Store
Two trends have buoyed the payments business since the onset of the pandemic—online shopping and buy now, pay later capability—and on Wednesday Klarna AB launched a new app that exploits both trends by letting consumers use Klarna’s BNPL service regardless of whether the store is a Klarna merchant. The new …
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2 November
Consumers Intend to Embrace BNPL As Never Before This Holiday Shopping Season
Heading into the holiday shopping season, consumers are poised to make even more use of buy now, pay later options than in the past. Overall, 42% of consumers plan to use BNPL while holiday shopping, according to a survey by GoCardless, a provider of account-to-account payments. When Millennials were asked …
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2 November
Global Payments Ramps up While Reporting New Ties to PayPal And Growth in BNPL
The big processor Global Payments Inc. on Tuesday morning reported a busy third quarter that included an expansion of its relationship with PayPal Holdings Inc., ventures in the hot buy now, pay later market, recovery from the pandemic’s impact, and growth in the company’s issuer business stemming from its link …
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2 November
Jack Henry’s Zelle Incentive and other Digital Transactions News briefs from 11/2/21
Jack Henry & Associates Inc. and Early Warning Services LLC, the Zelle operator, announced a rebate program through June 2022 for minority-owned depository institutions that enable Zelle via Jack Henry’s JHA PayCenter, its faster payments hub.Prepaid Technologies Co. Inc. said it raised $96 million in its latest funding round that it will use …
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1 November
Eye On BNPL: ACI Partners With Affirm; Afterpay’s Holiday Shopping Survey
ACI Worldwide Inc. added to its growing list of buy now, pay later partners on Monday, announcing a deal with Affirm Inc. Merchants using the processor’s ACI Secure eCommerce solution can offer consumers the ability to make purchases with Affirm and split the cost of the purchase into biweekly or …
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1 November
Open Banking Is Due for Explosive Growth, Posing a Threat to Cards, a New Report Says
The rising prominence of open banking, particularly in Europe and the United States, poses a “growing threat to the dominance of cards within e-commerce,” says a report released early Monday by the United Kingdom-based firm Juniper Research. The report comes against a backdrop in which e-commerce transactions are growing fast …
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1 November
Apple Objects to App Store Payment Changes and other Digital Transactions News briefs from 11/1/21
Apple Inc. filed an objection to a September U.S. District Court ruling that it says hinders the computing giant’s ability to restrict developers on its App Store to Apple’s own payment system. The ruling upheld Apple’s requirement that developers use its payment system within the App Store but said Apple must allow references to …
October, 2021
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29 October
AmEx’s New Debit Card Is Part of a Big Thrust Commercial Banks Should ‘Watch Closely’
With its launch on Thursday of a digital checking account for business and an associated debit card, American Express Co. could be poised to shake up the payments business in ways not seen before, observers say. “This announcement represents the greatest threat to financial institutions who are competing for the …
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29 October
COMMENTARY: Are You Asking the Right Questions to Decide on a Payment Operating Model?
Companies offering payment solutions generally face an important decision in their early days: settling on the right operating model. Should we function as a payment facilitator (payfac) and do everything ourselves? Should we register as an acquirer, ISO, or third-party processor? Should we handle risk and underwriting? How should we …
