News

February, 2021

• 11 February

  Despite a Tough Year, Digital Transfers Shone Brightly for Western Union

  

  Hampered early on by Covid-19, The Western Union Co. late Wednesday said its growing digital-transfer business helped buoy its results for the fourth quarter and the full year. Overall, revenue from digital transfers, including activity on Westernunion.com, grew 36% in the fourth quarter year-over-year and accounted for just over one-fifth …
• 11 February

  Uplift Signs Travel BNPL Clients and other Digital Transactions News briefs from 2/11/21

  

  Buy now, pay later specialist Uplift Inc. said it signed new travel brands and experienced a 72% growth in monthly transaction revenue in the 2020 fourth quarter. New clients coming online in the second quarter include Alaska Airlines, Frontier Airlines, Virgin Voyages, and Air Canada Vacations.ACI Worldwide Inc. said it and Gilbarco Veeder-Root, …
• 10 February

  How OLB Group Hopes to Win Over Merchants for Cryptocurrency Acceptance

  

  Betting that consumer demand to use cryptocurrency as a payment vehicle will rise over the long term, payments provider The OLB Group Inc. announced Wednesday that its SecurePay payment gateway will support the acceptance of Bitcoin and other digital currencies at the point of sale regardless of the merchant platform. …
• 10 February

  Nonbanks Find Consumer Favor and other Digital Transactions News briefs from 2/10/21

  

  As consumers increasingly turn to fintechs rather than banks, money decisions and payments share are shifting away from traditional financial institutions, according to a study from data-analytics firm Fair Isaac Corp. (FICO). Some 34% of consumers have at least one account with, or conduct financial activity with, a nonbank provider, while …
• 9 February

  Fiserv Looks to Units Like Clover And Carat to Help Bend Its Growth Trajectory Upward

  Like many of its rivals, Fiserv Inc. is looking for ways to prosper as hope begins to rise for a recovery from the Covid-19 pandemic that has ravaged much of the world. Tuesday afternoon, the Brookfield, Wis.-based payments provider revealed a promising report card for its fourth-quarter performance, with high-flying …
• 9 February

  Gift Card Fraud And Credential Stuffing Led the Charge in Fourth-Quarter Fraud Attacks

  

  Gift card fraud and credential stuffing, a technique in which criminals use stolen account credentials to gain access to legitimate user accounts, ran rampant during the fourth quarter of 2020, according to research by Arkose Labs, a San Francisco-based provider of fraud-prevention technology. Criminals launched 3.6 million attacks on gift …
• 9 February

  With Worldpay Firmly Onboard, FIS Sees Further M&A as ‘an Important Pillar’ in Its Strategy

  

  Top management at FIS Inc. made it plain Tuesday morning that growth through further acquisitions is a key priority only about 18 months after the company completed its massive buyout of the merchant processor Worldpay. But while the Jacksonville, Fla.-based company still keeps its powder dry for M&A, executives on …
• 9 February

  Mobile Wallet Gains and other Digital Transactions News briefs from 2/9/21

  

  Consumers continue to show affinity for using mobile wallets for payments with debit-based mobile wallet use growing at 59.6% for the week ending Jan. 31, compared to the week ending Feb. 2, 2020, according to the PSCU Tracking Transaction Trends report. Credit-based mobile wallet use was up 35.7%. The results include the …
• 8 February

  A Multiple-Acquirer Strategy Can Yield Improved Conversion Rates, Study Finds

  

  Merchants that use multiple acquirers may benefit from more than just payment-acceptance resiliency. Some—85%—have seen an increase in their conversion rates, finds a study from Edgar Dunn & Co. commissioned by Naples, Fla.-based ACI Worldwide Inc. In the study, which surveyed 93 merchants and 68 payment-service providers, 43% of the …
• 8 February

  With Google Cloud’s Technology, Global Payments Looks for a ‘Substantially’ Expanded Merchant Base

  

  Global Payments Inc. will move its acquiring technology to Google Cloud and serve as a worldwide merchant acquirer for Google under a sweeping agreement announced Monday morning. The pact will also allow Global’s merchant clients to access a long list of Google Cloud services, ranging from payments to data and …