News

October, 2021

• 7 October

  How a U.K. Limit on Contactless Payments Could Drive Consumers to Mobile Wallets

  

  An increase in the limit on what contactless cardholders in the United Kingdom can spend before they are required to authenticate themselves is raising questions about whether the new mandate will prompt consumers to shun their cards in favor of mobile wallets, which have no per transaction limit. The theory is …
• 7 October

  The First Payments Provider Lines Up at Apple’s App Store Following a Federal Court Ruling

  

  One of the first moves to bring a payment system not controlled by Apple Inc. to Apple’s App Store emerged Thursday and follows a landmark federal-court ruling last month. Paddle Ltd., a London-based payments provider, said it will begin offering the alternative Dec. 7, in line with the terms of …
• 7 October

  Purchase Scams Top Fraud List and other Digital Transactions News briefs from 10/7/21

  

  Purchase scams, in which consumers pay for goods that never arrive, was the number-one fraud type in the second quarter in terms of card-fraud attempts, beating out social-engineering frauds, according to fraud-prevention firm Feedzai. The top city for overall fraud attempts was Las Vegas, with fraud up 411% in the quarter …
• 6 October

  When One Just Won’t Do: Target Adds Two BNPL Options

  

  Mega-retailer Target Corp. says consumers can now use buy now, pay later options from Sezzle Inc. and Affirm Inc. Though Target doesn’t say why it is offering two BNPL options, it distinguishes Affirm, which offers a point-of-sale loan that charges interest, as best for purchases of more than $100. Sezzle, …
• 6 October

  The Latest EMVCo Standards Update Aims at Broader—And Streamlined—User Authentication

  

  Stronger authentication for voice-activated payments, as well as streamlined identity checks and support for a wider array of authentication technologies for online payments generally, are included in the latest version of EMVCo’s 3-D Secure standard, the global payments-standards body said Wednesday. EMVCo said its new update, version 2.3, responds to …
• 6 October

  Retail Spending Increased 5.4% and other Digital Transactions News briefs from 10/6/21

  

  Retail spending, except for automotive and gas, increased 5.4% in September year-over-year, Mastercard Inc. said in its latest SpendingPulse report. E-commerce sales were up 11.5% over last year for the same period.Sila Inc., a fintech software platform, has combined forces with Arcus Inc., a payments-technology firm, to allow businesses to make payments …
• 5 October

  Datacap Systems Teams Up With iStream to Process ACH Payments Through a Datacap API

  

  Payments provider Datacap Systems Inc. is partnering with iStream Financial Services to add support for automated clearing house payments processing through Datacap’s NETePay payments platform and using Datacap’s PayAPI application programming interface. Datacap acquired the NETePay hosted payment gateway from Octopi (formerly Monetary.co) in 2019. The deal with iStream will enable …
• 5 October

  A New Report From Accenture And Afterpay Casts Light on How Fast BNPL Is Taking Hold

  

  On-the-spot installment lending, known now as buy now, pay later, has achieved such a high profile since the onset of the pandemic last year that observers are starting to calculate just how much consumer spending it’s accounting for—and how much risk it might pose for consumers and lenders. A report …
• 5 October

  E-Commerce App Installs Soar and other Digital Transactions News briefs from 10/5/21

  

  AppsFlyer, a marketing measurement platform, said e-commerce retail app installations increased 55% on Android devices and 32% on iOS devices in 2021 in its latest “State of eCommerce App Marketing” report. In-app spending is up 35% and could increase to 42% by November.Payments-technology provider GK Software said it has completed an installation …
• 4 October

  More Than One-Quarter of Surveyed BNPL Users Have Missed at Least One Payment

  

  As the popularity of buy now, pay later services accelerates, potential problems do, too. Evidence of that has emerged in new research that finds 14% of BNPL users missed a payment once, and 12% missed a payment more than once, according to a new report from Piplsay, a consumer-research firm. …