News

June, 2020

• 3 June

  The FTC Announces Settlement With ISO That Processed for Fraudulent Online Marketer

  

  The Federal Trade Commission this week announced a settlement with an independent sales organization that processed $80 million in payments for “My Online Business Education,” or MOBE, a business-coaching and investment opportunity the FTC deemed fraudulent and shut down in 2018. Under an order and permanent injunction in U.S. District Court …
• 3 June

  Worldpay Enlists Forter to Arm for a Potential Surge in Online Crypto Trading Fraud

  

  Online trading of cryptocurrencies has become a hot market, and the recent online activity driven by Covid-19 fears has only added fuel to that trend. In response, the big merchant processor Worldpay, along with Forter Inc., a provider of fraud-prevention technology, on Wednesday introduced a service that will cover crypto …
• 3 June

  Repay Partners With Inovatec and other Digital Transactions News briefs from 6/3/20

  

  Payments provider Repay Holdings Corp. said it will work with Inovatec Systems Corp., a software vendor to financial institutions, to allow lenders to accept debit and credit cards as well as automated clearing house transactions via such channels as text-to-pay, interactive voice response, online, and the Repay mobile app.Maverick Payments released application programming …
• 2 June

  How PayPal’s Case Against the CFPB Could Spawn ‘Uncomfortable’ Results for Payments Players

  

  It was easy to lose track of it in the midst of all the impacts of the novel coronavirus, but a crucial federal lawsuit filed six months ago still hangs over the payments industry, carrying far-reaching implications for nearly all players. It’s PayPal Holdings Inc.’s  action against the Consumer Financial Protection …
• 2 June

  Visa Reports Improving Volume Trends in May

  

  U.S. payment volume growth was still in negative territory in May thanks to the Covid-19 pandemic, but the picture was brighter than it was in April, Visa Inc. reported late Monday. “In May, total U.S. payments volume declined 5% year-over-year, a 13 percentage point (ppt) improvement over April,” Visa said …
• 2 June

  Konnect’s M-Payments Restaurant Service Debuts and other Digital Transactions News briefs from 6/2/20

  

  Konnect Solutions Inc. introduced a mobile-payments service for restaurants that allows customers to pay inside or in drive-throughs by choosing the restaurant’s local WiFi wireless access point to view a menu, place an order, and access the restaurant’s point-of-sale system. They can pay on their phone or use options offered by …
• 1 June

  Following The Third Halving in Its History, Is Bitcoin in for Yet Another Wild Ride?

  

  Three weeks after an automated slashing of the reward cryptocurrency miners collect to process Bitcoin transactions, average prices are up while transaction fees have slipped. With respect to the price of Bitcoin, at least, this result follows an historical pattern. On May 10, the Bitcoin miner’s reward was cut in …
• 1 June

  Shift4 Looks to Raise Up to $315 Million Through Its IPO

  

  Shift4 Payments Inc.’s pending initial public offering took a step forward Monday when the merchant processor filed an amended prospectus stating it plans to sell 15 million shares of common stock at a range of $19 to $21 per share. At the maximum price, the sale would yield $315 million …
• 1 June

  ACH Sender Receives Certification and other Digital Transactions News briefs from 6/1/20

  

  Nacha, the automated clearing house rule maker, awarded its Nacha Certified status to Secure Payment Systems. Nacha Certified is a voluntary program for third-party senders.ACI Worldwide Inc. said Conductor, a Brazil-based processor, is entering the Latin American acquiring business using ACI’s UP Retail Payments and UP Payments Risk Management software products.Tokyo-based …

May, 2020

• 29 May

  A Majority of Online Transactions Are Now Made With Mobile Devices, comScore Finds

  

  Mobile devices have captured more than 50% of online purchase transactions in many large countries, according to new research findings from comScore Inc. Mobile wallets, however, still account for only a minority of total mobile purchases. Reston, Va.-based comScore, which researches Internet usage, says mobile’s share of online transactions rose …