Digital Transactions Authoritative, insightful and timely information for payments professionals
Rental payments are the top use case by far on the Zelle person-to-person payments network, according to the chief executive of Zelle provider Early Warning Services LLC. “From an end-user use-case perspective, far and away the No. 1 use case for Zelle right now is actually a rent payment,” Albert …
October, 2019
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16 October
Is Apple Card the ‘Most Successful Credit Card Launch Ever?’ Some Experts Demur
There’s little doubt that Apple Inc.’s Apple Card has stirred plenty of publicity before and since its Aug. 20 launch. And it enjoys the backing not just of Apple but of investment-banking giant Goldman Sachs, the card’s issuer. But is it “the most successful credit card launch ever?” That claim …
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16 October
Gains for Mobile Bill Pay and other Digital Transactions News briefs from 10/16/19
Twenty-one percent of consumers used a mobile app to pay a bill in 2019’s first quarter, up from 19% in the year-earlier period, according to a survey of more than 3,000 consumers by ACI Worldwide Inc. Meanwhile, 28% used a paper check, down from 32% a year earlier, according to the ACI …
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15 October
The Fed Wants To Get FedNow Into Market Quickly, But Hasn’t Changed Its Rollout Schedule
Two senior Federal Reserve officials said Tuesday they are committed to rolling out the proposed FedNow real-time payments service as quickly as possible, but they didn’t say the original schedule calling for a launch in 2023 or even 2024 will be shortened. “We will be making every effort, I think, to …
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15 October
A ‘Thriving’ ACH Logs 9.5% Growth, Adding to a Recent Record of Quarterly Expansion
With same-day transaction growth sizzling, the automated clearing house network overall notched another quarter of robust growth. The system logged 6.2 billion transactions in the quarter ended Sept. 30, up 9.5% over the third quarter of 2018, according to figures released Tuesday by Nacha, the network’s governing body. Total payment …
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15 October
Samsung POS Coming and other Digital Transactions News briefs from 10/15/19
Days after launching services that allow users to make international remittances and use a virtual prepaid card for payments, Samsung Electronics Co. launched Samsung POS, an app that it says will let merchants accept near-field communication payments on their mobile devices. Developed with payments-technology firm Mobeewave, Samsung POS is aimed at micro-merchants and other small …
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14 October
A Crucial Meeting of 21 Remaining Libra Backers Elects a Board And Appoints Executives
In the face of multiple defections so far, Facebook Inc.’s controversial cryptocurrency project scored a victory of sorts Monday when 21 remaining backers officially signed on at a crucial meeting in Geneva, Switzerland. In a busy day, the companies making up the Libra Association signed on to the project’s charter, …
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14 October
UPDATED: Leading Investor Decries ‘Value-Destructive Conduct’ at USA Technologies, Pushes for Change
The honeymoon is over between vending-machine payments provider USA Technologies Inc. and its largest investor, which on Monday accused the company’s board of directors of “value-destructive conduct” and blasted its top brass for “lack of management qualifications or accountability.” The surly announcement by New York City-based hedge fund Hudson Executive …
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14 October
Google Pay Gains Transit Connection and other Digital Transactions News briefs from 10/14/19
Cubic Corp.’s Cubic Transportation Systems unit agreed to integrate contactless transit cards with Alphabet Inc.’s Google Pay mobile-payments app. The integration will begin with contactless payment systems for transit in London, Miami, and New York.BMW, General Motors, Ford, Renault, and Honda will reportedly begin testing a blockchain-based in-car identification and payment system next month …
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11 October
The Tires Begin To Roll Off Libra as Visa, Mastercard, eBay, and Stripe Withdraw
Visa Inc., Mastercard Inc., merchant processor Stripe Inc. and online marketplace eBay Inc. said Friday afternoon they will not join the Facebook-backed Libra cryptocurrency project. The defections came a week after PayPal Holdings Inc. became the first of the Libra Association’s 28 tentative members to withdraw in the face of …
