Digital Transactions Authoritative, insightful and timely information for payments professionals
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 …
November, 2019
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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 …
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11 November
USAT Balks at Investor Move and other Digital Transactions News briefs from 11/11/19
USA Technologies Inc. said a solicitation from Hudson Executive Capital LP, the unattended payments provider’s largest shareholder, to call a special shareholder meeting is invalid under the company’s bylaws. HEC wants to take control of USA Technologies’ board of directors with its own slate of director nominees.The Singles Day shopping event on …
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8 November
In a New Marketing Push, Green Dot Enlists Ellen DeGeneres
Prepaid-program manager Green Dot Corp. will launch a marketing campaign with talk-show host and comedian Ellen DeGeneres. DeGeneres’s celebrity will be used to promote Green Dot Bank, Steve Streit, Green Dot founder and chief executive, said during a conference call with analysts Thursday. DeGeneres is host of the popular TV …
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8 November
COMMENTARY: AP And Treasury Need To Work Better Together. Here’s How
Finance departments contain many functions that don’t always work together as well as they should. That’s especially true of Accounts Payable and Treasury. You’d think they’d work more effectively together as teams that both control the flow of funds for an organization, but in my experience, that’s rare. That lack …
