Digital Transactions Authoritative, insightful and timely information for payments professionals
The Zelle peer-to-peer payments network is starting to click for the smaller, everyday transfers it was designed to handle. Early Warning Services LLC, the Scottsdale, Ariz.-based banking-technology company that runs the 2-year-old network, reported on Tuesday that Zelle handled $44 billion in volume in the second quarter on 171 million …
July, 2019
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23 July
UPDATED: Square Eyes Product Photos As Its Latest Service To Attract And Keep Merchants
Square Inc. is getting into the photography business as yet another way to add auxiliary services beyond payments designed to attract and retain merchants. The new service, dubbed Square Photo Studio, enables merchants, or sellers in Square’s lingo, to ship products to a Square studio in Brooklyn, N.Y., where they …
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23 July
A Survey Exposes Consumers’ Ambivalence on Voice-Activated Payments
Whether most consumers will ultimately use Alexa or Siri or some other voice-activated device to make purchases may depend crucially on how much money is at risk. As it turns out, slightly more than half of U.S. consumers would be comfortable using the technology to pay for relatively small-ticket goods …
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23 July
PAX Device Certified and other Digital Transactions News briefs from 7/23/19
PAX Technology Inc. said its S920 mobile point-of-sale device received certification from Verizon and AT&T.U.S. truck fleets are cutting their total fuel expenses by approximately 7% via loyalty programs offered on fuel cards, according to researcher SpendEdge. This benefit in turn is driving growth in the fuel card market, the research firm …
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22 July
Hearing Set on Massachusetts Bills That Would Repeal the State’s Cashless-Store Ban
A hearing is set for today on two bills pending in the Massachusetts Legislature that would repeal the state’s decades-old ban on cashless stores. If passed, the bipartisan legislation, which is drawing fire from the ATM industry, would put Massachusetts at odds with efforts this year in a number of …
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22 July
Equifax’s Tab for Its Big 2017 Data Breach Will Total at Least $671 Million
Equifax Inc., which in 2017 sustained a data breach that potentially exposed sensitive information related to 148 million files, on Monday announced what that massive intrusion will cost the company. The Atlanta-based credit-reporting agency said it will pay $671 million as part of an agreement to settle multidistrict class-action litigation …
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22 July
Digital Wallet Volume To Grow 40% and other Digital Transactions News briefs from 7/22/19
Juniper Research Ltd. released a report on digital wallets in North America and Europe that says purchase volume with them will increase 40% in 2019.The United States is the country from which the most people are traveling overseas, followed by Mainland China and Germany, according to Mastercard Inc.’s Global Destination Cities Index.MoneyGram International …
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19 July
AmEx Posts a 6% Jump in Global Discount Revenue As Overall Revenue Rises 8%
American Express Co. on Friday reported worldwide discount revenue of $6.58 billion for the quarter ended June 30, up 6% year-over-year. Discount revenue accounted for fully 61% of total revenue net of interest expense, which came to $10.84 billion, up 8%, the New York City-based card network reported. AmEx’s worldwide …
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19 July
Allied Wallet Settles With the FTC and other Digital Transactions News briefs from 7/19/19
The Federal Trade Commission said payment processor Allied Wallet, its CEO and owner Ahmad “Andy” Khawaja, and two company officers agreed to settle FTC charges that they assisted numerous scams by knowingly processing fraudulent transactions that took more than $110 million from consumers’ account.The two-day Amazon Prime Day event this week sold more than 175 …
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18 July
Despite Lawmakers’ Hostility, Patience Could Pay off for Facebook And Libra
Facebook Inc. and its proposed Libra cryptocurrency took a beating this week on Capitol Hill, but the outlook for the new coin—and its Calibra wallet—may be more nuanced than that reception would seem to indicate. The skepticism toward Libra was bipartisan, with Senators and Representatives of both major parties raking …
