Digital Transactions Authoritative, insightful and timely information for payments professionals
A leading credit-union service organization reported Wednesday that it has distributed half a million contactless payment cards through some of its members, and Mastercard Inc. has paired up with a French investment firm with an eye on bringing new fare technology to mass-transit systems. St. Petersburg, Fla.-based PSCU says it …
November, 2019
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20 November
Millions Sign Up for Mobile Payments—But How Many Stick Around Long Term?
Observers of mobile wallets have focused attention on user counts as a sign of adoption, but that leaves open the question of how many of these consumers are turning into habitual users. As it turns out, mobile-payments apps have a much harder time retaining users than do banking apps, according …
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20 November
Top Chargeback Cities Ranked and other Digital Transactions News briefs from 11/20/19
Chargebacks911, a dispute-mitigation and risk-management provider, said Santa Barbara, Calif., has the highest rate of fraudulent credit card chargebacks at 6.79%, followed by Paradise Valley, Ariz., 6.73%, and La Mirada, Calif., 6.68%. Other top 10 cites are listed in the company’s chargeback study, the second since 2014.Mobile-shopping and -payments app …
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19 November
Eye on Fintech: Payments Firms Attract Venture Funding; PSCU’s $100 Million Investment
Venture capital continues to flow to payments companies, which ranked among the top recipients of financial-technology sector funding in the third quarter, according to a new report. And credit-union services organization PSCU announced it will invest $100 million in its payments platform over the next three years. Sweden-based Klarna, a …
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19 November
HSBC Adds Real-Time Payments and other Digital Transactions News briefs from 11/19/19
HSBC Bank USA N.A. has made a real-time payments service, via The Clearing House Payments Co. LLC, available to its commercial and institutional clients. HSBC said these clients have been able to receive real-time payments since July and now can send them. HSBC expects to roll out the service to its consumer …
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19 November
COMMENTARY: One Year Later, GDPR Is a Blessing in Disguise for Financial Institutions
The General Data Protection Regulation (GDPR) went into effect in May 2018. More than one year later, most financial organizations—including banks, payment and trading services, and global exchanges, as well as the companies that rely on them—are struggling to maintain GDPR compliance. While prohibitive costs and the derailment of other, …
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18 November
Visa Confirms the FTC Is Probing Its Debit Transaction Routing Practices
Confirming rumors that the Federal Trade Commission is looking into issues involving debit card transaction routing, Visa Inc. late last week reported the Federal Trade Commission has asked it to voluntarily provide information about its routing practices. In a brief notice in its fiscal 2019 report to the Securities and …
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18 November
As the E-Commerce Gateway Business Heats up, Elavon Strikes a Deal for Sage Pay
U.S. payments companies looking to acquire properties in key markets like e-commerce and merchant acquiring have found a willing seller in Sage Group PLC. Early Monday, the company announced it agreed to sell its payments gateway, Sage Pay Europe Ltd., to Atlanta-based Elavon for $300 million. The deal will bring …
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18 November
Checkers Contends With POS Malware and other Digital Transactions New briefs from 11/18/19
Checkers Drive-in Restaurants Inc., which in May said malware had affected certain of its Checkers and Rally’s locations, said it is aware the malware had affected one more Checkers and Rally’s location and also that the malware had been re-installed at “several” locations the company had previously identified as affected. The company …
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15 November
Eye on Acquiring: Repay’s Card Volume up 40%, and Usio and Net Element Report Earnings
In its first full quarter as a public company, Repay Holdings Corp. said its card-payment volume of $2.6 billion was a 40% increase over the 2018 third quarter. Payments providers Usio Inc. and Net Element Inc. also reported their earnings results. Atlanta-based Repay, which acquired APS Payments and TriSource Solutions …