Digital Transactions Authoritative, insightful and timely information for payments professionals
Buy now, pay later has been around for years, but since the onset of the Covid pandemic it has soared in popularity, attracting heavyweight payments companies, opening new payment avenues for consumers, and drawing the attention of federal regulators. Late Thursday, Splitit Payments Ltd. was the latest practitioner to report …
March, 2022
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4 March
Visa May Lower Interchange for SMBs and other Digital Transactions News briefs from 3/4/22
Visa Inc. will decrease interchange rates by 10% for small businesses accepting consumer credit cards in April, according to a Reuters report. The reduced rates will apply to online and card-present transactions and only to merchants with $250,000 or less in Visa consumer credit volumes, Reuters attributed its information to an …
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3 March
It Took off During the Pandemic, And Now E-Commerce Shows No Signs Of Slowing
Despite the economy reopening after the disruptions caused by the Covid-19 pandemic, e-commerce continues to boom as consumers embrace shopping online from home or via their mobile device. A recent study from FIS Inc. reveals that e-commerce transaction values in the United States grew 10% in 2021 compared to 2020, …
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3 March
Payments Sanctions on Russia Have Been Coming Quick, But Their Impact May Be Limited
The actions taken by the SWIFT payments-messaging network and by Visa Inc. and Mastercard Inc. to punish Russia for its invasion of Ukraine will have an impact, but a muted one, observers say. The 49-year-old SWIFT system, which on Saturday said it is banning Russian banks, has not barred all …
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3 March
Flywire Volume up 75% and other Digital Transactions News briefs from 3/3/22
Cross-border payments specialist Flywire Corp. reported its payment volume rose 75% year-over-year in the fourth quarter, to $3.1 billion. Volume for 2021 totaled $13.2 billion, up 76% from 2020.Walmart Inc. announced customers can send remittances from any of its U.S. stores to any of its stores in Mexico for a fee as low …
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2 March
Ownit Says Its Connected Checkout Will Help DTC Brands Lift Conversion Rates
Ownit Commerce Inc. is betting the release of its new Connected Checkout service will give direct-to-consumer brands the ability to improve conversion rates by embedding Connected Checkout links anywhere they place URLs. The links enable one-tap purchase of any product. The effort is aimed at combatting shopping-cart abandonment as e-commerce …
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2 March
How Paysafe Sees Crypto And Gaming As Keys to Turning Around Its Digital Wallets
Paysafe Ltd. early Wednesday reported progress in turning around its beleaguered digital-wallet business, noting a crucial deal with the world’s largest cryptocurrency exchange and progress in its key iGaming market. As part of an effort to reinvigorate its wallets, “We’re starting to work with crypto exchanges” more actively, Philip McHugh, …
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2 March
Volante Unites Real-Time Payments Services and other Digital Transactions News briefs from 3/2/22
Volante Technologies Inc., a cloud payments and financial messaging provider, said it will offer U.S. financial institutions a unified real-time payments service that offers access to The Clearing House’s RTP network and the upcoming FedNow service, which is expected to launch in 2023. Volante has been in the FedNow pilot program since 2021.Facepay …
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1 March
Organic Growth, ACH Volume, And M&A Fuel a Big Year for Paya As a Public Company
Marking its first full year as a public company, Paya Holdings Inc. cited organic growth, increasing ACH volume, partnerships, and mergers and acquisitions as key growth drivers. Atlanta-based Paya reported payment volume of $11.7 billion for the fourth quarter, up from $9.2 billion from the same period in 2020, a …
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1 March
A Pair of Acquisitions Propel Shift4 Into Blockchain And Cross-Border Processing
Shift4 Payments Inc. early Tuesday said it has concluded agreements to acquire international e-commerce acquirer Finaro and cryptocurrency-based donation platform Giving Block in deals valued at $875 million in cash and stock, including future earnout provisions. The latter deal has already closed, while Allentown, Pa.-based Shift4 expects to close the …
