Digital Transactions Authoritative, insightful and timely information for payments professionals
The payments business may be shying away from the mergers-and-acquisitions market for the time being, but that’s not a strategy Shift4 Payment Inc.’s boss is interested in imitating. “Now, there’s a general distaste for acquisitions. That’s not a mistake we’re going to make,” declared Shift4 chief executive Jared Isaacman early …
November, 2023
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8 November
The CFPB Aims To Increase Its Oversight of Non-Bank Digital Wallet Providers
The Consumer Financial Protection Bureau late Tuesday said it is expanding its efforts to increase oversight of large, non-bank technology firms with a proposed rule that would subject companies that issue digital wallets to the same regulations as those that cover wallets from financial institutions. The proposed rule, which would …
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8 November
Chargebacks911 in FTC Settlement And Other Digital Transactions News briefs from 11/8/23
The Federal Trade Commission and the state of Florida reached a settlement with Chargebacks911 in a lawsuit they filed in April alleging the company and its owners use multiple unfair techniques to prevent consumers from winning chargeback disputes. The settlement would prohibit them from providing chargeback mitigation services to high-risk clients that use affiliate …
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7 November
PSCU And Co-op Solutions Merge to Create a Potential Fintech Powerhouse for Credit Unions
Long-time credit union service and financial-technology providers PSCU and Co-op Solutions announced a merger late Monday. The merged entity, which has yet to be named, will create an end-to-end payments system for credit unions of all sizes, PSCU chief executive and president Charles E. “Chuck” Fagan, promised during a press …
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7 November
FIS Still Sees Opportunity in Payments in the Wake of Its Approaching Sale of a Big Worldpay Stake
FIS Inc. is selling a majority stake in its massive Worldpay transaction-processing operation, but that doesn’t mean the company is ditching the payments business, its chief executive made plain early Tuesday. “We have not moved totally away from that,” Stephanie Ferris told equity analysts during an early-morning call to review …
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7 November
CPI Revenue Drops 15% And Other Digital Transactions News briefs from 11/7/23
Card manufacturer CPI Card Group Inc. reported $105.9 million in third-quarter revenue, a 15% decrease from $124.6 million in the 2022 third quarter. It had a profit of $3.9 million, a 67.2% decrease from $11.9 million a year ago. Cautious consumer spending and a focus on managing inventory levels likely had an …
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6 November
OpenTable And Uber Team Up To Stimulate Diner Traffic During San Francisco’s Restaurant Week
Restaurant-management platform provider OpenTable Inc. is offering 1,000 vouchers for Uber rides to diners eating at restaurants participating in San Francisco’s Restaurant Week. The promotion is intended to encourage visitors and locals to dine out during the event, which actually runs for two weeks from Nov. 3 through Nov. 16. …
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6 November
Financial Services Fraud Is up 39% from 2019, Says a TransUnion Report
Fraud at call centers operated by financial services organizations increased 39% from 2019 to 2022, according to new data from TransUnion LLC. That was the third-largest increase among sectors, surpassed only by travel and leisure and logistics, finds the TransUnion “2023 State of Omnichannel Fraud Report.” The report is based …
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6 November
66% Like CFPB Late Fee Proposal And Other Digital Transactions News briefs from 11/6/23
Some two-thirds of consumers feel a February proposal from the Consumer Financial Protection Bureau to cap monthly credit card late fees at $8 (down from $41) would have a positive impact on “the average credit card holder,” according to an online survey in September of 802 adult cardholders by the Auriemma Group. …
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3 November
Acquirers Seek Answers from a Visa Surcharging Executive
More than 10 years after Visa Inc. wrote its rules permitting surcharging on its credit cards, questions remain among acquirers, especially those selling or considering surcharge programs for their merchants. Now, as more merchants mull surcharge or cash-discount programs to alleviate some of their card-acceptance costs, and with recent changes …
