Digital Transactions Authoritative, insightful and timely information for payments professionals
One of the ways cryptocurrency is becoming more familiar to consumers and merchants is through debit cards backed by crypto holdings. The latest development in this trend came to light early Friday with an announcement that the crypto exchange FTX.com will offer Visa-branded debit cards around the world. A launch …
October, 2022
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7 October
U.S. Retail Sales Increase 11% And Other Digital Transactions News briefs from 10/7/22
U.S. retail sales, excluding automotive, increased 11% in September from September 2021, Mastercard Inc.’s latest SpendingPulse report found. E-commerce sales were up 10.7% year-over-year. The fuel and convenience sector had the highest growth, at 23.5%, last month. The luxury sector experienced a 5.2% loss against September 2021 sales.U.S. consumers plan to spend …
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6 October
Uber Readies Its Pro Card And Other Digital Transactions News briefs from 10/6/22
The ride-share provider Uber is working with card-issuing platform Marqeta and fintech bank Branch to launch the Uber Pro Card, aimed at allowing drivers and couriers to earn cash back on gas, fees, and other costs. The card will be enabled through digital wallets.London-based International Game Technology PLC has expanded operations in the …
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6 October
As Consumers Return to In-Store Shopping, Fraudsters Follow
It’s a fact of the payments world that fraudsters are adept at watching and following consumer behavior to maintain their criminal revenue flow. Just as consumers have returned to shopping in stores, criminals have returned to the point-of-sale, albeit without neglecting their online activities. That’s the summation from Visa Inc., …
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5 October
Targeting Higher Tickets, Afterpay Raises Its Credit Limits And Repayment Periods
In response to consumer demand to use buy now, pay later installment loans for higher-ticket purchases, such as home furnishings, the big BNPL player Afterpay has increased its credit limits and repayment periods. Afterpay users can now take out BNPL loans for purchases of between $400 and $4,000 and repay …
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5 October
SWIFT Completes CBDC Tests And Other Digital Transactions News briefs from 9/20/22
The SWIFT international payments network announced two tests it has completed have shown that central bank digital currencies and other tokenized assets can be handled without incident on existing processing technology.In related news, the fintech CryptoBucks said its CrytoBucks Wallet is available for download from the App Store and Google Play. The wallet allows …
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4 October
The Fed Makes It Final: All Issuers Must Offer a Choice of Unrelated Networks for All Debit
The Federal Reserve said late Monday it has completed work on a clarification that reinforces a more than decade-old requirement that issuers enable a choice of at least two competing networks for online debit card transactions. The release follows months of research and investigation by the Fed and will go …
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4 October
Zuza Marketplace Debuts And Other Digital Transactions News briefs from 10/4/22
Point-of-sale software developer Zuza launched its Zuza Marketplace on its Super App platform. Merchants can peruse the marketplace to find tools and third-party apps that can aid their businesses, Zuza said.U.S.-based Uplift, which offers buy now, pay later capability for the travel industry, announced Royal Air Maroc, a Morocco-based airline, has adopted its …
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3 October
Boston Consulting Group: Payments Revenues Will Stay Resilient Despite Headwinds
Despite economic headwinds from supply-chain bottlenecks and geopolitical instability, the payments industry continues to show resilient revenue growth, says a new report from the Boston Consulting Group. Global payments revenues are projected to grow about 9.5% in 2022, according to the report. Beyond this year, revenues are projected to grow …
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3 October
Durbin Pushes to Attach His Credit Card Routing Proposal to a Senate Defense Bill
Indications emerged late last week that Sen. Richard Durbin, D-Ill., has embarked on a strategy for his credit card routing bill that follows a path similar to one he forged a decade ago for his rules governing debit card routing. The veteran senator, along with co-sponsor Roger Marshall, R-Kan., have …
