Digital Transactions Authoritative, insightful and timely information for payments professionals
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 …
February, 2021
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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 …
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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 …
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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 …
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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 …
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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 …
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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 …
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8 February
Another Campus Adds ParkMobile and other Digital Transactions News briefs from 2/8/21
ParkMobile LLC said its mobile app will allow students at the University of Wisconsin-Superior to pay for parking at 420 spaces in seven lots on campus.Visa Inc. said it U.S. consumer cardholders now have access to NortonLifeLock, a digital safety service.Atlantic-Pacific Processing Systems NV Corp. made several improvements to its APPSos customer relationship management service.NCR …
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5 February
Merchant Gripes Concern Fees And Onboarding More Than Technology, J.D. Power Finds
Against the backdrop of an overall decline in small businesses’ satisfaction with payment processors, Square Inc. ranks highest with a score of 857 out of 1,000, according to the J.D. Power 2021 U.S. Merchant Services Satisfaction Study. PayPal Holdings Inc. comes in second with a score of 852, with Bank of America Merchant …
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5 February
Eye on Earnings: USA Technologies And Fleetcor Look for a Near-Term Rebound
With the coronavirus pandemic having reduced traffic to vending machines and other unattended retail devices, USA Technologies Inc. on Thursday reported quarterly results that included drops in both machine connections and revenue. But chief executive Sean Feeney sought to reassure investors that better days will arrive soon. “While the rebound …
