News

November, 2023

• 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 …
• 1 November

  Deluxe’s Payments Results And Other Digital Transactions News briefs from 11/2/23

  

  Deluxe Corp. reported a slight decline in third-quarter revenue year-over-year, with $537.8 million compared to $555 million for the same period in 2022. Its payments unit, its second-largest division, recorded flat revenue of $169.5 million, with its checks business posting $180 millon, down slightly from $182.4. Known chiefly as a check …
• 1 November

  When It Comes To Workplace Incentives, Employees Prefer Gift Cards  

  

  Gift cards are becoming a popular employee incentive, Fiserv Inc.’s “Q4 2023 Gift Card Survey” finds. Some 80% of respondents say they would prefer a gift card as a reward from their employer, while 9% say they would prefer an event or outing, and 11% would prefer some other type …
• 1 November

  Nuvei Links to KoreConX to Ease Investments Via Cards And Account-to-Account Transfers

  

  The big Montreal-based payments processor Nuvei Corp. said early Wednesday it will process investments in private companies through KoreConX, a technology provider specializing in enabling such payments for individual investors. Interestingly, the arrangement includes the use of both card and account-to-account networks to route customers’ investments, with a $50 minimum, …
• 1 November

   Wellfit’s Dental Work And Other Digital Transactions News briefs from 11/1/23

  

  Wellfit Technologies Inc. said it will provide payment processing, patient financing, and other services under a new agreement with Patterson Dental’s network of clinics. RentSpree, a management platform for landlords, announced it has reached 2 million users, doubling its user count in less than two years. The service enables rent payments …

October, 2023

• 31 October

  Dwolla’s Latest Integration Is a Deeper Dive Into Open Banking Technology

  

  The payments-technology provider Dwolla Inc. has integrated its Dwolla Connect platform for account-to-account payments in open finance. The integration will enable Dwolla Connect clients to transfer open-finance data to the Dwolla platform, the company says. As a result, financial institutions and third-party open-banking providers, such as Plaid Inc. and MX …
• 31 October

  Merchants Will Be the Winners in the Fed’s Debit Scheme, Global’s Boss Says

  

  Observers of the payments industry who wonder how the Federal Reserve’s proposed rate reductions for debit card acceptance might be received by the nation’s biggest processors heard an unequivocal answer early Tuesday from at least one of them.  “Any time the cost of acceptance goes down, it’s a positive for …