News

June, 2024

• 10 June

  Mastercard’s AI-Powered Shopping Muse Has Been Deployed by Michael Kors

  

  Retailer Michael Kors is getting into the artificial intelligence-powered shopping recommendation business with the adoption of Shopping Muse, a recommendation engine from a Mastercard Inc. company. Developed by Dynamic Yield, a data-personalization platform Mastercard acquired from McDonald’s Corp. in 2022, Shopping Muse employs artificial intelligence to make recommendations and further …
• 10 June

  Maverick’s Visa Integration and other Digital Transactions News briefs from 6/10/24

  

  Maverick Payments said it is working with Visa Inc. to offer direct acquiring capability on the Visa Acceptance Platform. The new connection, expected to go live in the third quarter, will let Maverick resellers and merchants gain access to a direct link to VisaNet. Google Inc. has discontinued GPay, or Google Pay, …
• 7 June

  The U.S. Payments Forum Looks to Multi-Factor Authentication to Fight Phishing

  

  As criminals’ knowledge of how to beat multi-factor authentication through phishing schemes increases, the need for payment providers to implement phishing-resistant solutions continues to grow. Phishing attacks are a form of social engineering in which cybercriminals deceive consumers into revealing personal and account information. The cybercrime can also involve installation …
• 7 June

  Elavon Expands in Mass Transit With Contactless Fare Payments on Philadelphia’s SEPTA

  

  In a major win in the expanding market for digital payments for mass transit, Elavon Inc. said it will support contactless payments for the Southeastern Pennsylvania Transportation Authority, the seventh largest U.S. transit system with 45.6 million riders per year, according to the American Public Transportation Association. The new service, …
• 7 June

  35% Intend To Add Faster Payments and other Digital Transactions News briefs from 6/7/24

  

  The U.S. Faster Payments Council released its “Faster Payments and Financial Inclusion” survey report that found that 35% of respondents did not have a faster payments integration but planned to do so. The survey canvassed 88 organizations. Technology firm EvonSys Inc. launched its Evonsys Payments Platform for cross-border transfers. The new service integrates capabilities …
• 6 June

  Affirm Adds New Payment Options And Partners to Attract Omnichannel Merchants

  

  Buy now, pay later provider Affirm Holdings Inc. has expanded its payment options to include Pay in 2 and Pay in 30. The new BNPL options are intended to provide consumers with more flexibility in budgeting their monthly income, the company says. Data from the Bureau of Labor Statistics shows …
• 6 June

  Canadian Customers Are Losing Enthusiasm for Credit Card And Banking Apps And Sites

  

  Banks and credit card companies have launched online services and mobile apps over the years to reinforce ties to their most valuable customers and win new ones. But, in Canada at least, that effort is hitting a brick wall, a series of new reports from J.D. Power indicates. While Canadian …
• 6 June

  The Best Tipping State and other Digital Transactions News briefs from 6/6/24

  

  Toast Inc., a provider of pay-at-table payments devices for the hospitality market, reported data derived from 112,000 restaurant locations in its Q1 2024 Restaurant Trends Report. Among the results: Tipping is most generous in Delaware, where it averages 22.1% of the bill. Mastercard Inc. said it is integrating Deposit Switch and …
• 5 June

  Is eBay’s Decision to Drop AmEx a Ploy To Negotiate Lower Acceptance Costs?

  

  EBay Inc.’s decision to stop accepting American Express cards effective Aug. 17 is generating big headlines, but some payments-industry experts question whether the decision is really a tactic to negotiate a lower interchange rate from the travel-and-entertainment card giant, given that eBay says it won’t stop accepting AmEx for about …
• 5 June

  Adyen’s Payment Tech Finds a Home at Prada

  

  Italian fashion house Prada is adopting omnichannel payments technology from Adyen NV in a bid to build a single financial technology platform across all its retail channels. Tap to Pay on iPhone in Prada’s U.S. locations and its Milan store is a centerpiece of the partnership, Adyen says, and potentially …