News

August, 2020

• 20 August

  In the Competitive Game of Open Banking, MX Claims a Big Lead With 50,000-Plus Connections

  

  In the ever-more competitive game of payments and open banking, direct data connections matter. On Thursday, MX Technologies Inc. claimed to have more than any other data aggregator, announcing it has exceeded 50,000 links to financial institutions and fintechs. The 10-year-old company, based in Lehi, Utah, competes with major aggregators …
• 20 August

  TransferWise Expands Mastercard Deal and other Digital Transactions News briefs from 8/20/20

  

  Under an expanded agreement, cross-border payments specialist TransferWise Ltd. will issue Mastercard debit cards in any market globally where Mastercard is accepted and TransferWise is licensed. TransferWise has issued more than 1 million cards globally since the agreement commenced in Europe in 2018.Consumer satisfaction with credit card issuers is plummeting as the Covid-19 pandemic …
• 19 August

  Amidst a Pandemic, Consumers Adapt by Adopting Touch-free Payments and Shopping

  

  The use cases for contactless payments have been there all along, but the Covid-19 pandemic is turning out to be a major motivator in adoption of the touch-averse technology. Evidence comes in a roundup of data from the U.S. Payments Forum, a Princeton Junction, N.J.-based payments association. In its latest …
• 19 August

  The Pandemic Has Stoked Merchant Risk Along With Contactless Payments

  

  With the Covid-19 pandemic accelerating consumers’ use of contactless cards and mobile wallets, merchants can expect hackers to target contactless transaction data at the point-of-sale, says Ruston Miles, founder and advisor at Atlanta-based Bluefin Payment Systems LLC. The main point of vulnerability in a contactless environment at the physical point-of-sale …
• 19 August

  Blackhawk To Distribute Covid-19 Relief Cards and other Digital Transactions News briefs from 8/19/20

  

  Payments provider Blackhawk Network Inc. said it is working with the California Governor’s Office of Emergency Services to distribute a total of $25 million in aid on 50,000 prepaid cards to health-care professionals battling Covid-19. The money was donated by Facebook Inc.Payroll-services provider PayActiv Inc. said its study of usage data from a sample …
• 18 August

  Pandemic Emergencies Could Be Moving Businesses to Push for Real-Time Payments

  

  With consumers and many businesses wary of cash and checks in the midst of the coronavirus pandemic, businesses may be more inclined than ever to pivot to real-time payments, according to research released Tuesday. Out of 252 corporate executives surveyed in June, a slim 9% said they had no plans …
• 18 August

  How Map App Waze Is Forging a Link Between Mobile Payments And Loyalty at the Pump

  

  Now that Google’s Waze app has embedded a payment option into its software, the integration of navigation apps and payments and loyalty at the pump is under way, experts tell Digital Transactions News. Last week, Waze announced it has integrated an option that consumers can use to pay at the …
• 18 August

  Walmart’s Online Sales Soar 97% and other Digital Transactions News briefs from 8/18/20

  

  Walmart Inc. reported its U.S. e-commerce sales increased 97% year-over-year in the June quarter.Card-issuing platform Marqeta Inc. has released Marqeta 3D Secure to help issuers combat online fraud and meet regulatory requirements in certain markets. 3D Secure is an authentication protocol developed by the major card networks.Cardknox Development Inc. announced its payments gateway is …
• 17 August

  Credit Union Data Point to Robust Growth for Wallet, Contactless Card, And Online Activity

  

  More evidence emerged Monday that, for all of its horrors, the coronavirus has been a boon for mobile wallets and for contactless payments generally. Wallets, which struggled to win consumer adoption in the United States even with backing from popular tech firms like Apple Inc. and Google, are increasingly turning …
• 17 August

  COMMENTARY: How Coronavirus Will Shape the Future of Self-Service Banking

  

  Self-service banking has long had a strong reputation as a safe, trusted, and convenient channel. This is a key part of its value proposition to both financial institutions and their customers. While Covid-19 has temporarily reduced cash use and impacted transaction volumes based on the many restrictions large parts of …