Digital Transactions Authoritative, insightful and timely information for payments professionals
Fraud-mitigation specialist Verifi released its “The Chargeback Triangle” report, completed by Javelin Strategy & Research, that found consumer disputes and chargebacks created $31 billion in financial losses in 2017, with merchants taking on almost $19 billion and issuing banks $12 billion. It also found that for every dollar in a …
May, 2018
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11 May
CPI Card Group’s Prepaid Card Sales Grow and other Digital Transactions News briefs from 5/11/18
The Western Union Co.’s Speedpay subsidiary announced the latest release of its Next Gen bill-payment platform. Card manufacturer CPI Card Group Inc. reported that first-quarter sales of credit and debit cards for the U.S. market fell 6.5% year-over-year, but U.S. prepaid card sales jumped 63%. The number of data breaches …
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11 May
How Apple’s Goldman Gambit Could Help Lock in Banks Supporting Apple Pay
Apple Inc.’s move to create a new Apple Pay credit card with Goldman Sachs Group Inc. may or may not help boost usage of the mobile-payments service, but one thing it is likely to do is cement Apple’s ties with the thousands of banks that support the service, observers say. …
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10 May
Cardlytics Prepares for a Potential Tripling of Its Active User Base by 2019’s End
Cardlytics Inc. is building its infrastructure to support as many as 200 million monthly active users of its merchant-funded rewards program by the end of 2019, more than three times the 60 million it currently has, company executives said Thursday. The big expansion comes as Cardlytics’ grows its business with …
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10 May
Early Ripple Cross-Border Tests Results and other Digital Transactions News briefs from 5/10/18
Blockchain provider Ripple Labs Inc. reported results on a number of pilots it is running for its XRapid cross-border payments network. Participants in the pilots have realized cost savings ranging from 40% to 70% compared to conventional fees. The average XRapid transaction took a little over two minutes, compared to two to …
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10 May
Wells Fargo’s Mobile App Moves Payments to Center Stage, Even Before the Log-in
Ever since banks, merchants, and tech companies first introduced mobile services, they’ve looked for ways to entice more usage by streamlining the way consumers interact with little screens. Now Wells Fargo & Co. has decided to put frequently used payments services on the home screen of its mobile app, before …
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10 May
U.S. Worldpay Merchants Begin Migration to Vantiv Platform
Worldpay Inc. reported Thursday that the integration of its predecessor companies, U.S.-based Vantiv Inc. and United Kingdom-based Worldpay Group plc, continued apace in the first quarter, and that revenues on a combined basis grew 12% year-over-year. The 115,000 merchants served by pre-merger Worldpay’s Atlanta-based U.S. operation are moving to Vantiv’s …
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10 May
Eye on Financing: EVO’s Roadshow Starts; USAT Seeks $50 Million
Two payments companies are turning to the investment market to raise funds with public offerings. EVO Payments International says it began its roadshow to promote its initial public offering it announced in April. If successful, the IPO could generate anywhere from $186,666,662 to $213,333,328, based on a share value ranging from $14 …
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9 May
Rambus Debuts Tokenization Service and other Digital Transactions New briefs from 5/9/18
Visa Inc. and PayPal Holdings Inc. have extended to Canada an agreement they made in 2016 that gives PayPal access to Visa’s tokenization engine in return for promoting Visa products for PayPal account funding. In related news, Visa said it is expanding its Visa Direct service in Canada, with processor …
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9 May
With Synthetic ID Fraud Losses Soaring, Complications Beset a Search for Solutions
Cyberthieves can use the payment credentials they steal to charge products to the people who are the legitimate owners of that data. That’s bad enough. But increasingly, these fraudsters are using the information they glean from data breaches to invent fresh identities, sometimes out of whole cloth, leaving credit card …
