Digital Transactions Authoritative, insightful and timely information for payments professionals
Stax Payments has acquired payment-technology provider Atlantic-Pacific Processing Systems (APPS) for an undisclosed sum. The acquisition is expected to enable Stax to create a new end-to-end payments platform that includes an enhanced multi-channel offering, improved data reporting, and additional customization capabilities. “Our partners and customers want a simple, secure, multichannel …
October, 2023
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17 October
Eye on Consumers: Organized Fraud Is up 44%; Holiday Spending Could Exceed Pre-Pandemic Levels
With the fourth quarter under way, fraudsters are increasing the sophistication of their attacks while consumers are gearing up for a busy holiday-shopping season, albeit with different goals. First, a new report from Au10tix, an Israel-based identity verification and management provider, found a 44% increase compared to preceding quarters in …
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17 October
Nacha Volume up 20% And Other Digital Transactions News briefs from 10/17/23
Nacha, the governing body for the automated clearing house network, reported the system processed 212 million same-day payments worth $608 billion in the September quarter, up 20% and 27.1%, respectively, over the same period last year. Total volume for all ACH payment types for the quarter came to 7.8 billion, …
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16 October
Eye on Crypto: NFTpay Enables NFT Purchases With AmEx and Discover; Ferrari To Accept Crypto
NFTpay, a Miami-based purchasing solution for non-fungible tokens, is accepting American Express and Discover cards for purchase of NFTs. These are assets that have been tokenized via a blockchain and assigned unique identification codes and metadata that distinguish them from other tokens. With NFTpay’s credit card purchasing solution, consumers can …
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16 October
Goldman Faces Some Hard Decisions As It Confronts Its Position in Consumer Credit Cards
The pressure at Goldman Sachs Group Inc. to exit, or at least radically modify, its consumer-credit and payments businesses appears to be mounting. At least some executives at the company are pushing senior management to exit credit card deals with Apple Inc. and General Motors Corp., The Wall Street Journal …
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16 October
AppTech To Acquire Alliance Partners And Other Digital Transactions News briefs from 10/16/23
AppTech Payments Corp., a specialist in business-to-business and business-to-consumer payments, has agreed to acquire Alliance Partners LLC and its FinZeo money-movement software. With the deal, expected to close Oct. 31, AppTech will become a payment facilitator, a company that allows merchants to accept payments on the company’s merchant account. Terms …
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13 October
How NMI’s Deal for Sphere’s Commercial Division Will Ease New Merchant Accounts
Payments provider NMI LLC announced Thursday it has acquired the commercial division of Sphere, a cloud-based software and payments-technology company. Sphere Commercial Division primarily serves non-integrated small and mid-size businesses. Terms of the deal were not disclosed. Schaumburg, Ill.-based NMI says the acquisition will strengthen its underwriting and risk-management capabilities …
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13 October
COMMENTARY: A Dose of Reality on the Broken Credit Card Market
Eric Cohen’s Commentary, “Whey the Credit Card Competition Act Falls Short,” posted here Oct. 9, makes three key claims about how the Credit Card Competition Act would supposedly harm small businesses and consumers. All of them are wrong.First, he says the bill would allow merchants “to choose their own network” …
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13 October
Nacha Unit Releases Cyberattack Exercise And Other Digital Transactions News briefs from 10/13/23
The Payments Innovation Alliance released what it calls a tabletop exercise designed to help small and mid-size businesses prepare defenses against a cyberattack. The PIA is part of Nacha, the network operator for the automated clearing house network. Transact Campus Inc., a payments platform specializing in college campuses, announced a technical …
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12 October
An Acquisitive Celero Closes on Its 10th Deal, This Time for Finical Holdings
Celero Commerce announced late Wednesday it has acquired Finical Holdings LLC for an undisclosed sum. The acquisition, which is the tenth Celero has made since its launch in late 2018, will increase the company’s annual card processing volume to $25 billion and enlarge its presence in the Southwestern U.S. market, …
