Digital Transactions Authoritative, insightful and timely information for payments professionals
Citcon USA LLC said it prevailed in a lawsuit against Canada-based RiverPay Inc. over allegations of misappropriation of source code trade secrets. Citcon, which helps North American merchants integrate Chinese mobile wallet acceptance, sued RiverPay in 2018 in the U.S. District Court for the Northern District of California because it said RiverPay …
December, 2019
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24 December
OTI Raises $2.5 Million and other Digital Transactions News briefs from 12/24/19
On Track Innovations Ltd., a provider of payments technology based on near-field communication, announced it raised $2.5 million in a private placement of shares.Digital-banking and payments-processing technology provider i2c Inc. launched a mobile app and cardholder Web site it says are designed to help persons who have color-blindness conduct digital banking.TriumphPay, a …
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23 December
It’s Official: Same-Day ACH Gets a Third Settlement Window, Effective March 2021
In a move that could have wide-ranging implications for a variety of payments, the Federal Reserve on Monday announced it will support a third settlement window each day for same-day automated clearing house transactions. The later settlement time, which ACH rule-making authority Nacha and a number of banks have long …
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23 December
COMMENTARY: How To Leapfrog Barriers in Payment Infrastructure
Over the last decade, we have seen an explosion in fintech, ushering in a new era of commerce. Payment innovations have closed the technology gap and have connected consumers all around the world—even those without bank accounts—to the digital marketplace. Many fast-emerging markets across Asia and Latin America have seen …
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23 December
Fleetcor Contests FTC Lawsuit and other Digital Transactions News briefs from 12/23/19
Fleetcor Technologies Inc., a payments processor for fleet-fueling cards and other products, issued a statement contesting a Federal Trade Commission lawsuit filed against the company Dec. 20 and asserting it will “vigorously” defend itself against the agency’s complaint in court. The FTC alleges Fleetcor charged customers “at least hundreds of millions of …
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23 December
COMMENTARY: What Will Digital Commerce Look Like in 2020?
Hardly any industry is currently in such a state of flux as is digital commerce. Of course, it’s precisely for this reason that the participating players are particularly concerned with the trends of the future. While it’s no surprise that customers will continue to take center stage, they will do …
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20 December
Oklahoma’s Attorney General Says the State’s Credit Card Surcharge Ban Restricts Speech
Proponents of credit card surcharging have received a Christmas present in the form of an Oklahoma attorney general’s official opinion declaring the state’s no-surcharging law unconstitutionally restricts free speech. The development means surcharge bans remain in only four states. State Sen. Michael Brooks, D-Oklahoma City, asked Attorney General Mike Hunter …
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20 December
Eye on Data Breaches: Big C-Store Chain Hit; More Click2Gov Attacks
East Coast convenience-store and gas-station chain Wawa Inc. reported Thursday that it discovered malware on its payment-processing servers that may have affected all of its 850-plus locations. And at least two more municipalities using the Click2Gov online-payment platform recently have reported possible data compromises. Wawa, Pa.-based Wawa said it discovered …
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20 December
InComm’s Vanilla Visa Debuts in Mexico and other Digital Transactions News briefs from 12/20/19
InComm, a provider of payments processing for the prepaid market, launched its Vanilla Visa prepaid and gift cards in Mexico.Levelset, a payments provider for the construction industry, announced a $30-million funding round led by Horizons Ventures.Butterfly Network Inc., provider of a handheld ultrasound application for mobile devices, said its technology …
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19 December
Point-of-Sale Chip Transactions Exceeded Non-Chip Payments in 2018, Fed Data Show
Chip-based transactions at the point of sale totaled more than non-chip payments for the first time in 2018, just three years after the United States began in earnest to convert payment cards and point-of-sale devices to the EMV chip standard, according to the latest Federal Reserve Payments Study, released Thursday. …
