Digital Transactions Authoritative, insightful and timely information for payments professionals
Strong consumer spending and a benign world economy worked in Mastercard Inc.’s favor in the first quarter, lifting the network’s U.S. purchase volume by nearly 11% and profits by over 30%. The No. 2 payment card network by volume on Wednesday reported that U.S. purchase volume rose 11% to $359 …
May, 2018
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1 May
After an Initial Hit, PNC Bank Cuts Its Zelle P2P Fraud
PNC Bank customers like Zelle, but fraudsters liked the person-to-person payments service a little too much after PNC rolled it out last July, according to a bank executive. Paul Trozzo, senior vice president and product group manager, on Tuesday dubbed Zelle “very successful” for the Pittsburgh-based bank, a unit of The …
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1 May
Word-of-Mouth Recommendations Are Failing Mobile-Payments Services
Coveted word-of-mouth advertising is failing the mobile-payments services offered by technology giants. That’s the assessment from the Q1-2018 Mobile Pay Tracker report from Auriemma Consulting Group. Though 34% of consumers among the more than 1,500 surveyed use mobile payments—up five points from a year ago—not many are as willing to …
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1 May
Regulators and Competition Push Banks To Embrace Open APIs, Potentially Changing Payments
With a push from regulators and competitive forces, banks are stepping up their development of application programming interfaces to enhance their payment and other financial services. APIs, which provide links so that disparate software systems, such as those at a bank and a financial-technology company that wants to offer services …
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1 May
Mobile Traffic Grows for Shopify and other Digital Transactions News briefs from 5/1/18
Toast, a 7-year-old provider of point-of-sale and payments software to restaurants, has launched its first POS device, a handheld that servers can use to accept payments and handle other functions. The device replaces a Samsung model the company used. Commerce platform Shopify Inc. reported transactions from mobile devices amounted to …
April, 2018
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30 April
A Walmart Win And Burgeoning ISV Transactions Buoy First Data’s Expectations
Processing giant First Data Corp. said on Monday Walmart Inc. has added Star signature debit acceptance to its roster of payment options. The company also noted that its integrated payments business continues to grow. Both observations came during the Atlanta-based company’s first-quarter earnings call with equity analysts. For the quarter, …
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30 April
Eye on Blockchain: Ripple Keeps Making Waves; Litecoin Lands in Wirex’s Visa Debit Card
With digital-payments providers emerging all over the world to serve local and international consumers, the search is on for synchronized, standardized networks to transfer funds cross-border. Ripple, the San Francisco-based provider of distributed-ledger payments, says it has the answer, and late last week five payments services overseas signed on to …
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30 April
Western Union Adds WeChat Pay Option and other Digital Transactions New briefs from 4/30/18
Zippy’s Restaurants said credit and debit card data, including cardholder names and numbers, may have been compromised in a “data-security incident” at its approximately two dozen locations in Hawaii between last Nov. 23 and March 29; the chain learned of the incident March 9. The Western Union Co. has added …
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27 April
Capturing Payments Through Omnichannel Consumer Experiences
By Scott Dowty, Chief Revenue Officer at Apriva, LLC Merchants today need to connect with their prospects and customers across multiple channels to survive and thrive. This “omnichannel” strategy requires meeting the customer in store, online, with mobile, with self-service and vending, perhaps even with mail order/telephone order options. And …
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27 April
How Square’s Deal for Weebly Sets the Stage for Expansion to Bigger Merchants
Since its founding nine years ago, Square Inc. has focused on simplified checkout options and software for small brick-and-mortar merchants. With its acquisition of Weebly Inc., announced late Thursday, San Francisco-based Square is not only staging a major expansion into e-commerce, it’s also laying the groundwork for a significant outreach …
