News

April, 2019

• 10 April

  Amazon Go Stores To Accept Cash, Eventually

  

  Amazon Go stores may soon accept cash. “We are working to accept cash at Amazon Go,” an Amazon spokesperson confirms in a statement to Digital Transactions News. Amazon Go stores only accept in-app payments now. A consumer must download the Go app and scan a barcode from the app on her …
• 10 April

  eBay Adds PayPal to Payments Platform and other Digital Transactions News briefs from 4/10/19

  

  EBay Inc. announced Monday that its managed-payments platform, introduced in September, has now added PayPal on top of Google Pay, Apple Pay, and credit, debit, and gift cards. A report Wednesday, however, indicates PayPal availability is limited. A startup called Obligo said it is enabling renters to make so-called move-in …
• 10 April

  The Latest AFP Fraud Study Unveils a Surprising Jump in Fraud on the ACH

  

  Which payment method holds the dubious distinction of racking up the fastest growth in fraud last year? According to the latest annual fraud report from the Association for Financial Professionals, it’s debits and credits on the automated clearing house network. In fact, the ACH was the only payment method examined …
• 9 April

  Retailers Riled up About Regulated Debit Interchange as Authorization Costs Decline

  

  A prominent merchant group says that in the face of declining authorization, clearing, and settlement costs, it is time for the Federal Reserve to lower its regulated debit card interchange rate. The Retail Industry Leaders Association issued its call after the Fed last month released its latest bi-annual study of …
• 9 April

  Most Full-Service Restaurants Are Frustrated With Their Payments Services, a Survey Finds

  

  Frustration with payments runs high among full-service restaurant operators, so much so that only 20% expressed no frustrations in a new TouchBistro Inc. report released Monday. The other 80% had some issue with their payments services, with many of them, 21%, citing a lack of transparency on pricing. That was …
• 9 April

  ACH Fraud up, Says AFP and other Digital Transactions News briefs from 4/9/19

  

  There has been a “noticeable increase” in fraud on credits and debits on the automated clearing house network, according to the latest “Payments Fraud and Control Survey Report” from the Association for Financial Professionals. Some 33% of responding organizations reported ACH debit fraud in 2018, up from 28% in 2017, …
• 8 April

  A New Refund Policy From PayPal Will Stop Returning Fees to Sellers on Canceled Sales

  

  PayPal Holdings Inc. has posted some important policy changes set to take effect soon, including one that will stop refunding sellers for the commission part of the fee they pay on sales when buyers cancel. Sellers on forums like Reddit have been reacting for at least the last five days …
• 8 April

  i3 Verticals Buys Net Data for $24 Million and other Digital Transactions News briefs from 4/8/19

  

  i3 Verticals Inc. completed its $24 million acquisition of Northeast Texas Data LLC and Graves Humphries Stahl LLC, collectively known as Net Data, which provides software services, including payment acceptance, to municipalities and local government agencies primarily in Texas. Millersville University adopted the ACI student payment portal from ACI Worldwide …
• 8 April

  COMMENTARY: It’s Time We Finally Got a True Picture of Acceptance Costs

  

  A recent Forbes article attempted to refute many of the conclusions of a prior Wall Street Journal article that had illustrated how the card schemes (Visa Inc. and Mastercard Inc.) have dramatically increased their fees in recent years. In response, the Forbes article challenged the Journal article by completely changing …
• 5 April

  Investor Lawsuit Challenges Planned Fiserv-First Data Merger

  

  A First Data Corp. shareholder filed a proposed class-action lawsuit Wednesday challenging the planned acquisition of the payment processor by Fiserv Inc. The $22 billion all-stock merger benefits First Data’s controlling shareholder, the investment firm Kohlberg Kravis Roberts & Co., “to the detriment of the company’s noninsider stockholders,” says the …