News

August, 2024

• 21 August

  As EV Charging Stations Spread, BlueSnap Links With EV Connect for Payments Processing

  

  The number of public charging stations for electric vehicles has nearly doubled over the past five years to more than 61,000, and that’s leading some major payments platforms to view these venues as an increasingly important market. In the latest development, EV Connect, a business-service provider for these stations, has …
• 21 August

  Jack Henry Revenue up 4.7% and other Digital Transactions News briefs from 8/21/24

  

  Processor Jack Henry & Associates Inc. reported June-quarter revenue of $559.9 million, up 4.7% from the same quarter last year. Revenue for the 12-month period came to $2.22 billion, up 6.6%. Net income for the quarter totaled $101 million, a 3.4% increase; for the year ended June 30, $381.8 million, up 4.1%. …
• 20 August

  Payment Orchestration Platforms Now Must Figure Ways to Set Themselves Apart, a Report Warns

  

  As competition among payment orchestrators heats up, providers looking to separate themselves from the pack find themselves under pressure to offer points of differentiation, according to Datos Insights’ “Payment Orchestration Vendor Evaluation” report, released Tuesday. One key differentiator for payment orchestrators is smart payment routing, according to the report. This …
• 20 August

  PayPal Lines up Adyen as a Fastlane Checkout Provider

  

  Having just launched earlier this month, PayPal Holdings Inc.’s Fastlane checkout has lined up processor and competitor Adyen NV as a partner. Designed to accelerate guest checkout flows, Fastlane is meant to help e-commerce retailers boost their conversion rates. Reducing friction in the guest-checkout process can help boost conversion rates for e-commerce …
• 20 August

  Hotels.com Picks Affirm and other Digital Transactions News briefs from 8/20/24

  

  Affirm Inc. said it will work with Hotels.com to allow consumers to book rooms and pay over time. The move builds on Affirm’s existing partnerships with Expedia Group. Shopping-app installs increased 61% in the first half of the year compared to the same period last year, according to Adjust’s shopping-app insights report. myKaarma, …
• 19 August

  With Two Major Providers of Real Time Payments, the Request for Payment Takes on a Higher Profile

  

  When the Federal Reserve’s FedNow real-time payments service debuted commercially 13 months ago, the story mainly focused on the general concept of immediate money transfers. But since then the payments industry has been busy refining that concept and working on service-ready applications. One of the most talked-about of these applications …
• 19 August

  COMMENTARY: Why Merchants’ Legal Assault on Acceptance Costs Is Anti-Consumer: Part II

  

  Merchants want lower interchange. In their Shangri-la, interchange would be negative, meaning merchants would be paid to accept credit and debit cards. This is not unknown in the real world. For example, Australia’s national debit network for many years had negative interchange. Merchants want to be able to freely surcharge …
• 19 August

  Gen Z Digital Wallet Love and other Digital Transactions News briefs from 8/19/24

  

  Interac Corp., Canada’s national debit network, said 69% of Gen Z Canadian adults have embraced the mobile wallet, while 63 % prefer to leave their physical wallet at home for short trips, according to a recent survey. Gen Z’s use of mobile wallets outpaces all other generations including Millennials (60%), …
• 16 August

  Lenders Bring Suit Against Illinois’s Newly Enacted Interchange Law

  

  Several organizations representing banks and credit unions filed a lawsuit late Thursday challenging Illinois’s Interchange Fee Prohibition Act, which was signed into law June 7. The lawsuit, filed in United States District Court for the Northern District of Illinois, was brought by the Illinois Bankers Association, The American Bankers Association, …
• 16 August

  COMMENTARY: Why Merchants’ Legal Assault on Acceptance Costs Is Anti-Consumer: Part I

  

  While merchants, like consumers, love credit and debit cards, they don’t like having to pay to accept them. It’s human nature to want to pay less for products and services, no matter how good they are. To reduce payment-acceptance fees, merchants have brought a battery of antitrust lawsuits against Mastercard …