Digital Transactions Authoritative, insightful and timely information for payments professionals
As 2019 draws to a close, the year’s super mergers in the payments-processing business may be creating super opportunities for startup service providers. That, at any rate, has been the experience so far of acquiring-industry veteran Trent Voigt and his new company, Paynetwork LLC, which does business as Paynetworx. The …
December, 2019
-
17 December
Big-Ticket Rejection and other Digital Transactions News briefs from 12/17/19
LexisNexis Risk Solutions released an analysis of transactions and cyberattacks between Nov. 27 and Dec. 3 that found the average shopping cart value rejected as high risk or fraudulent was $329, or 179% higher than the value of legitimate online transactions—$118—in the period.Juniper Research’s latest report forecasts that the installed base of contactless-enabled …
-
16 December
Eye on Gas Stations: Networks Reject Delay in EMV Liability Shift; Visa Warns of Malware Attacks
Gas stations and convenience stores won’t be getting an extension of the upcoming October 2020 fuel-pump EMV liability shifts, according to a merchant trade group. Meanwhile, Visa is warning of malware-based attacks against fuel retailers that invade their point-of-sale systems. The major networks have set next October for pumps to …
-
16 December
Eye on PayPal: Cross-Border With Citi; Transit Ticketing in Germany
PayPal Holdings Inc.’s latest financial-institution collaboration emerged Monday with news that institutional clients of Citigroup Inc. will be able to make payments directly into PayPal digital wallets globally starting in the first quarter. The arrangement opens up for PayPal Citi’s WorldLink cross-border payments network, which will be used to connect …
-
16 December
Clover Adds Recruiting App and other Digital Transactions News briefs from 12/16/19
Point-of-sale payments technology provider Clover, which is owned by Fiserv Inc., added JazzHR, a recruiting app, to its Clover App Market, which is aimed at small businesses.Splitit Payments Ltd., a global provider of point-of-sale installment payments, announced it reached $3 million in merchant sales over the four-day stretch from Black Friday through …
-
13 December
Eye on IPOs: Investors Embrace Bill.com; Is Klarna Next?
The term “exceeding expectations” has long been a cliché in corporate America, but it certainly applies to this week’s initial public offering of stock from invoice-management and business-to-business payments provider Bill.com Holdings Inc. Now Sweden-based installment-payments provider Klarna AB, reported to be the most valuable financial-technology provider in Europe and …
-
13 December
Virtual Fare Card Test Coming to Washington, D.C. and other Digital Transactions News briefs from 12/13/19
The Washington Metropolitan Area Transit Authority, which serves the area in and around the nation’s capital, plans next year to start allowing users of Apple Inc. devices to pay at fare gates with their iPhones and Watches using a virtual version of the agency’s SmarTrip card, according to The Washington Post. Android …
-
12 December
COMMENTARY: How to Avoid Bungling AML & KYC Compliance And the Associated Penalties
Over the past 10 years, regulators across the United States, Europe, APAC, and the Middle East have levied nearly $26 billion in financial penalties against financial institutions for anti-money laundering (AML), know your customer (KYC), and other sanctions-related violations. In today’s heightened regulatory climate, organizations need to be concerned with …
-
12 December
Bill Ready Going to Google and other Digital Transactions News briefs from 12/12/19
Departing PayPal Holdings Inc. chief operating officer Bill Ready in January will assume the role of head of commerce at Alphabet Inc.’s Google unit, TechCrunch reported. PayPal announced in June that he would leave the company at year’s end. Ready came to PayPal in 2013 as a result of the company’s $800-million …
-
11 December
Alleging Digital Wallets Are Not Prepaid Products, PayPal Sues the CFPB Over Its Prepaid Rule
PayPal Holdings Inc. on Wednesday sued the Consumer Financial Protection Bureau alleging the regulatory agency’s 8-month-old prepaid rule represents a “category error” and a violation of the First Amendment, and should be vacated by the court. The lawsuit, filed in the U.S. District Court for the District of Columbia, charges …
