Digital Transactions Authoritative, insightful and timely information for payments professionals
FreedomPay Inc. said Big 5 Sporting Goods has signed with the company to process payments at its 424 stores throughout the U.S. market. Canada-based identity platform Trulioo said it will work with Mastercard to offer identity-verification services in onboarding both merchants and consumers to help prevent fraud. The Consumer Financial Protection Bureau finalized a rule …
June, 2024
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3 June
Payments Play a Critical Role in the Customer Experience, Discover Says
Payments play a key role in consumers’ willingness to make repeat purchases from a merchant, according to Discover Financial Services Inc. Some 85% of consumers say a negative payment experience makes them less likely to interact with a business in the future, says Discover’s 2024 Payment State of the Union report. …
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3 June
Shift4 Makes a Big Card-Present Play in Europe With a Deal for Germany’s Vectron Systems
Shift4 Payments Inc. confirmed early Monday it has reached an agreement to acquire the German point-of-sale technology company Vectron Systems AG at a price of 10.5 euros, or $11.42, per share. The offer represents a 50% premium to Vectron’s current share price, according to early reports. Information was not immediately …
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3 June
BNPL Displacing Store Cards and other Digital Transactions News briefs from 6/3/24
Buy now, pay later installment plans are displacing store cards among consumers, with 64% of debit card holders reporting they have been offered an installment plan online, up from 45% four years ago, according to The Payments Report from Auriemma Research. Meanwhile, 39% report they own a store card, down from 53% …
May, 2024
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31 May
Plaid Brings Open-Banking Technology to Western Union in Europe
Open-banking technology provider Plaid Inc. is pairing-up with The Western Union Co. to bring its account-verification services to the wire-transfer giant’s European customers. Under the so-called collaboration San Francisco-based Plaid announced Thursday, Western Union will be able to tap Plaid’s open-banking system for account verification, thereby simplifying remittances and digital …
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31 May
Eved Launches Prepaid B2B Card For Production Companies
Eved LLC, a provider of payment management solutions for the entertainment and media industry, late Thursday launched a prepaid business-to-business card for production companies. The Visa-branded card, called EvedPay, will enable entertainment, media and production companies to load predetermined dollar amounts onto the business-to-business prepaid cards to manage spending limits …
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31 May
Up ‘n go Tops $1.1 Billion in Payments Processed and other Digital Transactions News briefs from 5/31/24
Up ‘n go, a QR code-based pay-at-the-table provider, said it recently marked more than $1.1 billion in total payments processed. The company was founded in 2017. Mastercard Inc. and Visa Inc. will settle a class action lawsuit over ATM fees, according to a Reuters report. They have agreed to pay $197 …
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30 May
An Alert Warns of Scams That Collect on ‘Missed’ Toll Road Payments
With summer travel on the rise, fraudsters are readier than ever to take advantage of unwary motorists. Toll-road fraud is generating complaints in at least a dozen states, says the Identity Theft Resource Center in a report issued this month. The latest scam involves text messages impersonating a toll authority …
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30 May
Personalization Is the Key for Payments Apps And Web Sites, J.D. Power Finds
Personalized financial-management tools and digital assistants will provide the pathway for banks and card issuers to differentiate their mobile apps or Web sites from those of competitors and drive adoption and usage, according to a new report from J.D. Power. The best opportunities for card issuers will come from offering …
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30 May
Many Opt for Manual Bill Pay and other Digital Transactions News briefs from 5/30/24
Almost two-thirds of U.S. consumers prefer to pay bills manually rather than through automated services, according to a survey by payments platform MX Technologies Inc. The online research embraced 1,059 adults and was conducted during the first quarter. Embedded payments startup Forward closed a $16 million seed financing round led by Commerce Ventures, Elefund, …
