Digital Transactions Authoritative, insightful and timely information for payments professionals
The payments platform FreedomPay said it is expanding its partnership with the processor Worldpay to cover more geographic markets globally. FIS Inc. in July agreed to sell a 55% interest in Worldpay to the private-equity firm GTCR in a deal expected to close in 2024’s first quarter. Buy now, pay later specialist Sezzle Inc. announced an …
September, 2023
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19 September
Square Founder Dorsey Will Have His Hands Full in Taking Over Square Again, Observers Say
The unexpected announcement late Monday that Square chief executive Alyssa Henry is leaving the company and being replaced by founder Jack Dorsey raises tough questions about how the strategy and direction of the huge point-of-sale payments company might change, experts say. Dorsey, a key founder of what was then called …
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19 September
Zebra Joins the Race for Mobile POS Market Share
Zebra Technologies Corp. has entered the highly competitive mobile-payments market with the introduction of Zebra Pay, a software-based, PIN entry, consumer off-the-shelf mobile payment solution for merchants. With solutions like Zebra Pay, the cardholder’s PIN is entered on an acquirer’s app running on the mobile device, while the card is …
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19 September
ACI’s Real-Time Microsoft Deal And Other Digital Transactions News briefs from 9/19/23
ACI Worldwide Inc. said it will work with Microsoft Corp. to make its Real-Time Payments Cloud available in Microsoft Azure, enabling financial institutions access to The Clearing House Payments Co. LLC’s Real Time Payments network and the Federal Reserve’s FedNow real-time payments service. Treasury Prime, an embedded-banking technology provider, said it …
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18 September
Stripe Eyes Its Checkouts for Consumers And Conversions for Merchants
Stripe Inc. early Monday launched a series of enhancements aimed at improving checkouts for merchants. The new features—which include one-click checkouts and a no-code A/B testing tool for businesses to evaluate how different payment methods perform—rely on pre-built user interfaces. This should allow merchants to quickly deploy the new features, …
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18 September
As Fintechs Target Cross-Border Payments, Banks Plan Major Upgrades, a Citi Report Finds
Nearly 90% of financial-institution clients predict 5% or more of cross-border market share will be forfeited to fintechs within the next 10 years, according to a study from Citicorp that canvassed more than 100 financial-institution clients. Why is this important? “The Bank of England estimates that the value of cross-border payments is …
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18 September
Wise’s Cross-Border Hopes And Other Digital Transactions News briefs from 9/18/23
Wise Transfer Ltd., a developer of software for cross-border transfers, announced its Wise Platform will complete transactions initiated through the Swift international payments platform at the option of financial institutions. In related news, IBM Corp. announced its IBM Payments Center, a software-development unit, has joined the Swift Partner Program, gaining access to …
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15 September
An Interchange Class-Action Settlement Inches Forward With a Recent Court Action
The federal court overseeing a $5.54-billion settlement between millions of card-accepting merchants, on one hand, and Visa Inc. and Mastercard Inc., on the other, over interchange costs recently took several steps that ultimately could get payments out to merchants. But checks still won’t be in the mail for some time. …
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15 September
How Amazon Looks to Boost Order Size And Conversions Using Buy With Prime Cart
Amazon.com late Thursday unveiled Buy with Prime cart, a new feature of the e-commerce giant’s Buy With Prime benefit intended to increase order sizes. Buy With Prime users can now place multiple items in their shopping cart, whereas they were previously limited to a single item per order, Amazon says. …
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15 September
An ARC Pay API for Air Travel And Other Digital Transactions News briefs from 9/15/23
Airlines Reporting Corp. announced it has started processing payments through its ARC Pay application programming interface for the online travel agency Business Travel Group LLC’s Business Class brand. The Western Union Co. announced it will offer free money transfers for funds consumers around the world send to Libya in the wake of severe …
