News

March, 2024

• 15 March

  How the CFPB’s Mobile Wallet Rule Is Raising More Questions Than Answers

  

  The Consumer Financial Protection Bureau released its proposed rule on mobile wallets back in November, and comments on it closed Jan. 8, but that doesn’t mean the proposal isn’t still stirring up discussion as lawmakers, payments experts, and technology firms wrestle with its implications. The rule, which would define so-called …
• 15 March

  COMMENTARY: Real-Time Funding Improves the Digital Wallet Experience. Here’s How

  

  Digital wallets such as PayPal, Venmo, Apple Pay, and Google Pay are ubiquitous components of everyday financial activity for millions of people. With users increasingly using and maintaining cash balances on digital wallets, they are starting to demand 24/7 access to their money. They also expect faster and more visible …
• 15 March

  FedNow User Group Formed and other Digital Transactions News briefs from 3/15/24

  

  The Federal Reserve launched a user group for the 607 financial institutions that have signed on so far to participate in FedNow, the real-time payments network the regulator launched last summer with 35 participants, a count that had reached 400 by January. All live financial institutions and certified service providers are eligible …
• 14 March

  DoorDash Expands Its SNAP/EBT Program to More Than 10,000 Stores

  

  DoorDash Inc. has added 13 grocery-store chains to its platform that will accept electronic benefits transfer and SNAP cards for payment. The list of grocers—which includes, ACME Markets, Food City, Hy-Vee, Jewel-Osco, Kings Food Markets, Pavilions, Randalls, Shaw’s, Sprouts Farmers Market, Star Market, Stater Bros. Markets, Tom Thumb, and Vons—comprises …
• 14 March

  A New Mobile Wallet Is Set to Emerge for Electronic Games in Bars And Restaurants

  

  With the proliferation of smart phones, mobile wallets have been specializing in recent years as businesses find ways to work them into their payments stream and consumers find the devices impossible to leave behind. Now, mobile payments are coming to the world of electronic games in bars and restaurants. TouchTunes …
• 14 March

  Elavon Lands BMO And Other Digital Transactions News briefs from 3/14/24

  

  Processor Elavon, a unit of U.S. Bank, said it will provide a payments platform to BMO. In addition to payment services for credit, debit, and digital payment transactions, Elavon’s services to the bank include customized merchant processing services, omnichannel acceptance, fraud management, and dynamic and multi-currency conversion. Processor Stripe Inc. added support for Apple …
• 13 March

  Security Firm Zumigo Ditches Passwords for Customer Authentication in Online Transactions

  

  Zumigo Inc., a provider of mobile-identity authentication technology, says it has enhanced its DeRiskify fraud-prevention product for e-commerce merchants by enabling sellers to authenticate customers without a password requirement when customers log into their account. Eliminating the need for passwords in the customer-verification process pleases customers, which in turn can …
• 13 March

  Eye on E-Commerce: Riskified Launches Pre-Screening Tool; Chargeback Gurus Adopts PCI 4.0

  

  As online shopping continues to stitch itself into consumer behavior, efforts to reduce chargebacks also advance. The latest is Riskified’s Auth Rate Enhance service that can pre-screen orders and provide more information for its customers to make a go-no-go decision on digital orders. Auth Rate Enhance, a component of Riskified’s …
• 13 March

  MEA Picks CPI Push Platform And Other Digital Transactions News briefs from 3/13/24

  

  Payment card technology provider CPI Card Group Inc. said it will provide its push-provisioning platform to customers of MEA Financial Enterprises LLC, a financial-services software provider. The CPI technology will allow cardholders to “push” their card credentials into digital wallets through a mobile-banking app. Canadian payments-technology provider VoPay International Inc. said it will expand …
• 12 March

  Evolving your Partner Model to Adapt to a Changing Payments Landscape

  

  By Steven Velasquez Head and Senior Vice President of Partner Business Development – U.S. Bank | Elavon In recent years, there’s been a notable transformation in the key players shaping the payments ecosystem. Established models of acquiring banks are facing competition from emerging fintech and software companies eager to capture …