Digital Transactions Authoritative, insightful and timely information for payments professionals
The U.S. Justice Department is investigating Visa Inc.’s practices regarding online and in-store debit card acceptance, according to reporting by The Wall Street Journal. The probe is centered on whether Visa has restricted merchants’ ability to flow transactions over less-costly networks, according to sources who spoke to the newspaper.Fintech Enova International said it acquired Pangea …
March, 2021
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18 March
Post-Covid, Look for a Take-off in In-Store Volume, Led by Innovative Payment Technology
With global economies expected to re-open as more consumers receive Covid-19 vaccinations, in-store retail spending will hit $22.8 trillion worldwide in 2022. That’s after in-store sales fell 7% in 2020 as many consumers shifted purchases online. The projection comes from London-based Kaleido Intelligence Ltd. While the Covid-19 pandemic impacted in-store …
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18 March
Soaring Levels of Tap-and-Pay Transactions Will Stick in Post-Covid Times, CardFlight Predicts
Contactless payments at small businesses served by point-of-sale technology provider CardFlight Inc. soared 296% in the past year, according to the payments provider’s latest Small Business Report. The report, initiated a year ago at the start of the Covid-19 pandemic, also found that overall sales at small businesses increased 56% …
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18 March
Splitit Signs More Merchants and other Digital Transactions News briefs from 3/18/21
Buy now, pay later provider Splitit Payments Ltd. announced new merchants Giant Bicycles, Super73, Mate Bike, Michael’s Jewelry and others now offer the installment payment service. Spliltit also reiterated that its service can be used with credit cards.Boutique marketplace Jane has integrated Klarna for buy now, pay later transactions.Fintech Rapyd said it is waiving up to …
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17 March
Eye On BNPL: Afterpay, Flexiti, And Why Consumers Are Embracing Multiple Apps
Buy now, pay later continues to be a hot option as retailers look for ways to entice shoppers to buy more and increase online conversions and in-store traffic. Afterpay Ltd. announced Wednesday that its fifth bi-annual Afterpay Day promotion will include brick-and-mortar retailers for the first time. The event is scheduled …
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17 March
Sports Betting Offers Processors a Rapidly Growing Opportunity As States Sign on
With 21 states having legalized sports betting in one form or another, major payments processors sense a growing opportunity. The latest development comes from Virginia, where Nuvei Corp. said Wednesday a subsidiary has been granted a sports-betting vendor registration by the Virginia Lottery. “The company can now offer its innovative payment …
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17 March
Priority 4Q Revenue up 8.1% and other Digital Transactions News briefs from 3/17/21
Payments provider Priority Technology Holdings Inc. reported fourth-quarter revenue of $106.1 million, up 8.1% year-over-year. Excluding Priority’s RentPayment business, which the company sold in September, revenue grew 12.3% from $94.5 million.Payments provider Flywire Corp. launched Flywire eStore, a platform that supports e-commerce for Flywire clients and their customers. The move follows Flywire’s decision last …
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16 March
As the ACH Network Readies for Covid Relief, Payments Groups Seek to Correct the Record on Funding Date
In response to erroneous reports about funds availability, The Clearing House Payments Co., Nacha, and seven other banking and payments groups said Tuesday that Economic Impact Payments from the federal government will start to become available to recipients Wednesday morning. A statement from the nine groups, plus a separate statement …
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16 March
The Economy Got Suddenly Closer to Cashless Commerce in the Past Year, a Square Study Shows
Three years’ worth of movement away from cash in the United States has taken place in just 12 months as a result of the Covid-19 pandemic, according to estimates in a report released Tuesday by Square Inc. “It’s not to say we’re ditching cash entirely any time soon, but the …
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16 March
Card Brands Delay Interchange Updates and other Digital Transactions News briefs from 3/16/21
Responding to pressure from Sen. Dick Durbin, D-Ill., and other critics, Visa Inc. and Mastercard Inc. are delaying planned adjustments to their credit card interchange rates until April next year, Bloomberg News reported. The rate adjustments had been set for next month and involved an estimated net $889 million in increased fee income for …
