Digital Transactions Authoritative, insightful and timely information for payments professionals
Now that Google Inc. is making a play for the heart of payments—the checking account—some observers see the strategy’s first fruit as likely to be a move into a massive market long controlled by banks and service providers. “It’s huge,” Krista Tedder, director of payments at Javelin Strategy & Research, …
November, 2019
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14 November
FTC Probes Debit Routing and other Digital Transactions News briefs from 11/14/19
The Federal Trade Commission has started a preliminary inquiry into whether Visa Inc., Mastercard Inc., and large debit card issuers are blocking merchants from routing transactions over PIN-debit networks, the Bloomberg Law news service reported, citing anonymous sources. FTC investigators reportedly have contacted merchants and their trade groups, Bloomberg Law said. Spokespersons for …
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13 November
PCI Compliance Drops for the Second Year in a Row, Verizon Reports
Compliance with the Payment Card Industry data-security standard remains an elusive goal for many merchants and other organizations that handle general-purpose payment card data. In fact, compliance fell in 2018 for the second year in a row, according to Verizon Communications Inc. Verizon’s newly released Payment Security Report says only …
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13 November
Facebook Pay Could Dominate Facebook’s Apps, But That’s Not Likely to Stymie Rival Wallets
With Facebook Inc.’s launch Tuesday of Facebook Pay, the social-media giant may feel somewhat assured that many of its 1.6 billion daily users will at least try the new wallet when making purchases in one of the company’s social networks. But that does not mean the rest of the payments …
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13 November
Boost in Chase Deal and other Digital Transactions News briefs from 11/13/19
Boost Payment Solutions Inc., an acquirer for commercial card transactions, said it is collaborating with JPMorgan Chase & Co. to process payments and automate delivery for Chase’s Single Use Card Accounts and other commercial cards.Cardlytics Inc., which derives marketing intelligence from purchase data, reported a 116% year-over-year increase in monthly …
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12 November
Xoom Turns to Euronet’s Ria And Walmart to Enable Cash Transfers in the United States
As peer-to-peer payments services like Cash App, Venmo, and Zelle grow in popularity in the United States, some observers fret that underserved populations are being left behind. PayPal Holdings Inc.’s Xoom money-transfer service said Tuesday it’s attacking that issue in a collaboration with Walmart Inc. and Euronet Worldwide Inc.’s Ria remittance …
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12 November
Big Retailers Anticipate FedNow Will Bring Competition to Payments
A retail trade association as well as Target Corp. have endorsed the Federal Reserve’s planned FedNow real-time gross settlement service. In a letter posted last week on the official FedNow comment site, the Washington, D.C.-based Retail Industry Leaders Association said “over the past decades RILA has seen competition and innovation …
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12 November
USAT Boasts 25% Revenue Increase and other Digital Transactions News briefs from 11/12/19
Unattended-payments specialist USA Technologies Inc. held its first quarterly earnings call in more than a year following the resolution of accounting issues. In it, USAT reported first quarter fiscal 2020 revenue of $42.1 million, a 25.7% increase from $33.5 million a year ago. Its net loss for the quarter was $12.8 million, …
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11 November
U.S. Holiday Sales Could Top $1 Trillion, With Mobile Payments Growing 32%
Research firm eMarketer Inc. forecasted that 2019 U.S. holiday sales will surpass $1 trillion in value for the first time. Cyber Monday, the Monday following Thanksgiving, is expected to be the biggest online shopping day and could approach $10 billion in sales. With Thanksgiving falling on the last Thursday of …
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11 November
COMMENTARY: For the Sake of Payments Innovation, Deposit Insurance Must Enter the 21st Century
Thanks to an influx of technological advancements, individuals now have more choices than ever to save and manage their money. But ensuring that financial tools are best serving consumers takes cooperation among regulators, policymakers, and the private sector. Recently, Federal Deposit Insurance Corp. Chairman Jelena McWilliams said the agency will …
