Digital Transactions Authoritative, insightful and timely information for payments professionals
In its latest flirtation with plastic credit cards, online payments leader PayPal Holdings Inc. unveiled its PayPal Cashback Mastercard, a no-annual-fee card issued by Synchrony Bank that gives PayPal account holders 2% cash back on online and in-store purchases wherever Mastercard is accepted. Rewards, on which there are no limits or expiration …
August, 2017
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29 August
Fitbit’s Newest Fitness Tracker Shows How the Card Brands Are Pushing Contactless
Consumers have a new option when choosing a fitness device that’s capable of making a contactless payment. Fitbit Inc., a San Francisco-based maker of fitness trackers, announced its Ionic smart watch Monday that includes Fitbit Pay, the company’s first foray into contactless payments. Fitbit Pay, which will be available when …
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29 August
Credit Union Joins Accel and other Digital Transactions News briefs
Target Corp. has integrated its popular Cartwheel couponing app into its main mobile app in preparation for introducing mobile-payment functionality based on quick-response codes, TechCrunch reports, though Target’s deadline for introducing payments on the app is “in flux”and may slip into early next year, according to the online news service. Golden …
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28 August
Seventy Percent of Millennials Have Made an In-App Purchase in the Past Year, Study Finds
Young adults are famous for their enthusiasm for new technologies, and that perception appears to be confirmed by a new study that compared adoption of in-app payments by various age groups. The recently released “2017 U.S. Mobile App Report” from Internet metrics firm comScore Inc. found that 23% of adult …
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28 August
Glance Licenses its Glance Pay Tech and other Digital Transactions News briefs
Fitbit introduced its first smart watch, the Ionic, which features contactless-payment capability. Over the coming months users can add tokenized American Express Co. cards as well as Visa Inc. and Mastercard Inc. credit and debit cards from certain banks around the world, including Bank of America, Capital One, HSBC, and U.S. Bank in the United States, …
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26 August
The CFPB Didn’t Play Nice, So a Judge Tosses Its Claims Against Merchant Acquirers
After chastising the Consumer Financial Protection Bureau for way it handled itself in its 2015 lawsuit against allegedly fraudulent debt collectors and their payment processors, a federal judge on Friday threw out the CFPB’s claims against the processors. The case is unusual in that Judge Richard W. Story of U.S. …
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25 August
Why Have Transactions And Dollar Volume Dropped for Same-Day ACH?
So far, most observers would agree same-day ACH credit processing, introduced nearly a year ago on the nation’s automated clearing house network, has been a success. Users appear to be satisfied with the service, and risk appears to be under control, observers say, despite the shorter windows for fraud detection. …
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25 August
BluePay Buys Security Card Services and other Digital Transactions News briefs
Independent sales organization BluePay Processing LLC acquired Security Card Services, a merchant-services provider for community and regional banks. Terms of the deal were not disclosed. Canadian mobile-payments provider Dream Payments has expanded a dealer program whereby wireless and electronics distributors sell the company’s mobile point-of-sale terminal in-store and online. Currently, more than 100 retailers …
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25 August
A Ten-Fold Boom in Mobile P2P Will Reward Providers But Also Build Pressure for Fees
Now that financial institutions have launched a digital peer-to-peer payment service called Zelle to battle popular nonbank services like Venmo, the rival platforms are likely to divide up a rapidly growing market but will also face pressure to find ways to charge for the service. While overall U.S. P2P dollar …
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25 August
In a Strategic Shift, Square Opens New York Store to Better Connect With Merchants
Square Inc. opened a store in New York City on Thursday to showcase its products and highlight products from some of its merchants, marking the digital-payments company’s first effort at running its own brick-and-mortar shop. Dubbed the Square Showroom, the lower Manhattan location has displays of various Square point-of-sale products …
