Digital Transactions Authoritative, insightful and timely information for payments professionals
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 …
September, 2021
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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. …
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23 September
Eye On Open Banking: Plaid Supports New Payments Services for Nuvei And Circle
The rapidly expanding utility of open banking for instant funding came into sharp relief early Thursday with announcements from payments processors Nuvei Corp. and Circle Internet Financial Corp. Montreal-based Nuvei, which has been cultivating its stake in the U.S. gaming market, said consumers can now move money instantly from their …
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23 September
Repay Teams with Veem for Cross-Border Payments and other Digital Transactions News briefs from 9/23/21
Payments-technology provider Repay Holdings Corp. has agreed to partner with business-to-business funds-transfer fintech Veem Inc. to increase cross-border payment options. At the same time, Veem will deploy Repay’s business-to-business virtual card and acquiring platform.InsurCard, a payment processor specializing in health care, launched a Mastercard debit card for persons who have received a …
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22 September
Stripe Adds a Revenue Recognition Tool for Merchants That Book Sales Over Time
Online payments powerhouse Stripe Inc. Tuesday introduced Stripe Revenue Recognition, an application intended to automate the mapping of money to a balance sheet. The development of Revenue Recognition was spurred by the accounting needs of merchants and businesses that are paid upfront for goods and services to be delivered in …
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22 September
Eye on BNPL: Affirm Combines Repayment Options And SeaWorld Offers Uplift Installments
As the buy now, pay later payment option continues to permeate commerce, Affirm Inc. fine tunes its repayment options and Uplift hooks SeaWorld as a client. San Francisco-based Affirm says its new Adaptive Checkout gives consumers the option to pay in biweekly or monthly installments. The service will dynamically present a …
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22 September
Chevron Picks P97 for App Updates and other Digital Transactions News briefs from 9/22/21
Chevron Products Co. said it is working with mobile-payments technology provider P97 Networks Inc. to enhance the company’s mobile apps for both Chevron and Texaco customers.Mercator Advisory Group’s “18th Annual U.S. Closed-Loop Prepaid Cards Market Forecast 2020-2025” found that closed-loop prepaid card loads dropped 14% because of the pandemic, but are expected …
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21 September
PayPal Launches Its ‘Super App’ With a Raft of Shopping, Payments, And Banking Features
PayPal Holdings Inc. on Tuesday launched a new version of its mobile app with a panoply of new shopping and financial features aimed at broadening the product’s appeal with consumers who are increasingly turning to online commerce. The big refresh, the first PayPal has executed on its digital wallet for …
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21 September
Despite Booming E-Commerce Sales, Grocers Struggle With Online Profitability
Since the pandemic hit, e-commerce has been a boon for many merchants. Still there’s one merchant segment that has not fared so well with online sales: grocers. They’re finding the channel not particularly profitable, according to reports. Despite the number of online grocery shoppers increasing five-fold in 2020 compared to …
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21 September
FNBO Launches BNPL Service and other Digital Transactions News briefs from 9/21/21
The First National Bank of Omaha launched a buy now, pay later service that enables merchants to offer installment payments to consumers. FNBO tapped EXL, an operations management and analytics company, and Skeps, a point-of-sale loan originations platform, to help develop the service. The BNPL service can be integrated into e-commerce Web …
