News

November, 2023

• 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 …
• 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 …
• 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. …
• 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 …
• 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. …
• 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 …
• 3 November

  COMMENTARY: How Earned Wage Access Can Help Workers Stay Out of Debt

  

  According to recent research, American households carried a whopping $17.1 trillion in total debt as of the second quarter of 2023. The herculean effort to become debt-free continues to weigh on the shoulders of millions of Americans. We’ve seen the landscape of the U.S. workforce change drastically over the past …
• 3 November

  Amazon Turns to Affirm for BNPL And Other Digital Transactions News briefs from 11/3/23

  

  Amazon.com Inc. agreed to introduce buy now, pay later services through Affirm Inc. at checkout at the online Amazon Business store. Block Inc. said late Thursday the impact of a 15-hour outage on its Square platform in September was less than 1% of September-quarter profit. Block’s shares ended the day Thursday up 7.4%, …
• 2 November

  Nuvei Teams Up With AmEx To Bring Open Banking Technology To Its U.K. Merchants

  

  The big processor Nuvei Corp. extended its reach into open banking Thursday through an agreement with American Express Co. to sell AmEx’s Pay with Bank transfer open-banking solution. Pay with Bank transfer (PwBt) enables consumers to pay for purchases directly from their bank account online or in-store. The partnership comes …
• 1 November

  In His First Earnings Call As PayPal’s New Boss, Alex Chriss Leaves No Doubt Who’s in Charge

  

  Most new corporate chiefs keep a low profile for a time, perhaps tweaking their predecessors’ strategies but announcing few major changes. Not so Alex Chriss. PayPal Holdings Inc.’s new CEO, who took over Sept. 27 from long-time chief Dan Schulman, took the opportunity of his new company’s third-quarter earnings call …