Digital Transactions Authoritative, insightful and timely information for payments professionals
Equifax Inc. said it expects costs from its massive 2017 data breach to hit $275 million this year, offset by $75 million in insurance proceeds, Reuters reported. The credit-reporting agency also disclosed that another 2.4 million people were affected by the cyber attack in addition to the more than 145 …
March, 2018
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1 March
SignaPay Announces New Products and other Digital Transactions News briefs from 3/1/18
Point-of-sale equipment maker Ingenico Group announced a PIN-on-glass product suite that includes a secure card reader and a back-end verification service. Payments provider SignaPay Ltd. announced two new products, the PayHub Plus Payment Gateway and the PayLo Mynt POS System, which offers a variety of customized point-of-sale software packages. In …
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1 March
With a Fleetcor Pilot, Ripple Gains More Momentum As the SEC Shines a Spotlight on ICOs
Interest among mainstream financial institutions and payments providers in the potential for cryptocurrency is heating up just as the top U.S. financial regulator is reportedly eyeing a crackdown on so-called initial coin offerings, or token sales used by digital-currency startups to raise capital. In the latest sign that processors and …
February, 2018
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28 February
Eye on E-Commerce: Klarna Racks up Gains; PayPal Shuts Down Early In-Store Gambits
Sweden’s Klarna Bank AB enjoyed a good year in 2017, as documented by results the privately held online-checkout and financing specialist released on Wednesday. The firm, which was founded in 2005 and has operated a U.S. unit, Klarna Inc., since 2015, had already achieved distinction by ranking third among so-called …
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28 February
Integration Tasks Emerge Now that the Vantiv-Worldpay Merger Is Official
The merger of payment processors Vantiv Inc. and London-based Worldpay Group plc was completed Jan. 16, and up next for leaders of the combined company is integration of operational platforms, selling products to a wider customer base, and achieving their goal of $200 million in cost savings in three years. …
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28 February
Apple Pay Cash Use at 3% for Younger Users and other Digital Transactions News briefs from 2/28/18
ZipfWorks Inc., owner of online coupon code site Dealspotr.com, released the results of a mobile-payments survey that found that 15% of consumers between 18 and 35 years old used Apple Pay while shopping online. Ten percent of this age group used Apple Pay in a store. It also found that …
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28 February
The Rise of Chargebacks
Did you know that the typical business will only hear from around 4 percent of their unsatisfied customers? That leaves the remaining 96 percent with the potential to file a chargeback against a merchant’s business, negatively impacting their bottom line. The ability to maintain positive cash flow is one …
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27 February
Square Claims $1 Billion in Annual Volume on Its Cash Card
Square Inc. on Tuesday pulled back the curtain, at least a little bit, on its Cash App and the related Cash Card, a Visa-branded debit card. The app has 7 million active users, and cardholders spent $90 million using the card in December, good for annualized volume of $1 billion, …
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27 February
Merchants Eye Checkout, Financing, and Mobile Investments in 2018, Says Vyze
Many merchants—98%—are looking to make investments in their checkout systems this year, finds the Merchant Credit Survey from Vyze Inc., a consumer financing provider. Investing in financing programs ranked high, with 97% saying they anticipate focusing on financing and credit options. Most merchants—92%—plan to make mobile app and mobile Web …
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27 February
Survey Results Show a Surprising Slowdown in Merchant Compliance With Key Security Rules
At a time when the payment card industry continues to struggle with the consequences of data breaches, the last thing acquirers and issuers need is a slowdown in merchant compliance with critical data-security rules. Yet that is what’s going on, warn the Merchant Acquirers Committee and ControlScan Inc. in survey …
