Digital Transactions Authoritative, insightful and timely information for payments professionals
By John Stewart @DTPaymentNews The faster-payments movement in the United States took a key step forward late in September with the automated clearing house network’s adoption of same-day clearing, and now numbers are available for the first full month of faster ACH processing. A total of $4.98 billion on 3.8 …
November, 2016
-
15 November
Samsung Rewards Marks New Tack for Endearing Consumers to the Samsung Pay Mobile Wallet
Consumers who use their Samsung Pay mobile wallets to make a payment will be rewarded for their transactions with the debut this week of Samsung Rewards. Announced Monday, the program enables consumers to earn points for their Samsung Pay transactions, which can be redeemed for retailer gift cards, prepaid Samsung …
-
15 November
JetPay Posts 48% 3Q Revenue Increase and other Digital Transactions News briefs
• Payments-technology provider linked2pay said it and Push Payments, a payments processor, have made real-time payments available on linked2pay’s Bank Centric Payments platform. • JetPay Corp. reported a 48% year-over-year increase in third-quarter revenues to $15.2 million; the processor also reported a net loss of $2.9 million compared with a $1.7 …
-
15 November
More Than 600 Retailers Urge Congress To Retain the Durbin Amendment
By Jim Daly@DTPaymentNews Merchant trade groups have kept up a steady drumbeat this year in support of the Dodd-Frank Act’s Durbin Amendment with its debit card regulations. But, with Republicans taking full control of the federal government in January, the drumbeat got louder Tuesday when 627 large and small merchants …
-
14 November
Etsy Adds Apple Pay on the Web and other Digital Transactions News briefs
• Rite Aid Corp. announced that American Express Co. cardholders now can use their Membership Rewards points for purchases at its drugstores. They also can use their Plenti points earned using the AmEx-backed coalition rewards service • Growth in consumer revolving credit cooled off to a 5.2% seasonally adjusted annualized rate in …
-
14 November
Lack of Value, Crowded Market, and Risk Aversion Crimp Mobile Wallets, Analyst Says
By Jim Daly@DTPaymentNews Countless analysts have tried to diagnose what ails the lackluster U.S. mobile-wallet market, but new observations from securities rating agency Fitch Ratings Inc. succinctly identify three primary causes: a lack of compelling value propositions, an overcrowded market, and cyber-risk aversion on the part of consumers. “The vast …
-
11 November
In Its Face-Off With the FTC, NetSpend Argues It’s Following the Rules
NetSpend, the prepaid card unit of processor Total System Services Inc. (TSYS), is facing a Federal Trade Commission lawsuit filed Thursday over allegations the company deceptively marketed reloadable debit cards. The suit, filed in the U.S. District Court for the Northern District of Georgia, alleges NetSpend promised “immediate access” to …
-
11 November
Gift Cards Top Holiday Wish Lists and other Digital Transactions News briefs
• Gift cards were the most sought-after gifts among consumers queried for a survey about the upcoming holiday season and sponsored by the National Retail Federation; 61% of respondents reported wanting a gift card, followed by clothing and accessories, 54%; and books, CDs, DVDs or videos, 40%. • Merchant processor …
-
11 November
Holiday Gift Card Loads Will Perk up As Retailers Start To Favor Cards Over Discounts
By John Stewart @DTPaymentNews Retailers can expect a bump upward in the dollars consumers load on closed-loop gift cards this holiday season as a festive spirit takes hold and more merchants favor the cards over holiday discounts, according to a forecast released Friday by payments consultancy Mercator Advisory Group. “Retailers …
-
10 November
Despite the Rising Role of ISVs, 49% of Them Still Don’t Integrate Payments Capability
Even though payments processors have been working with application developers for years, independent software vendors (ISVs) still represent a major opportunity for acquirers and processors. It remains the case that 49% of ISVs do not integrate payments functionality into their systems, according to new research from First Annapolis Consulting, an …
