Digital Transactions Authoritative, insightful and timely information for payments professionals
Of 500 companies that process at least 500 online monthly transactions, 58% say their chargeback rates have gone up since March 2020, and of these, 45% say the biggest reason likely is delivery delays, according to a survey by fraud-prevention technology firm Kount, a unit of Equifax Inc.Payment processor EirthPay announced its launch. …
August, 2021
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20 August
REGO Will Introduce a New Version of Its Mobile Wallet for Teens And Kids
REGO Payment Architectures Inc. said Friday it will make version 3.0 of its Mazoola mobile wallet app and virtual debit card available in the Apple Store on Aug. 27. The Mazoola wallet is designed to help parents empower their kids to learn how to manage money in a digital world …
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20 August
E-Commerce Loses Some Momentum As Sales Slowed Down in the Latest Quarter
The boom in e-commerce, which was touched off more than a year ago by the coronavirus pandemic, may be showing signs of losing steam. U.S. e-commerce sales in the second quarter totaled $222.5 billion, up 9.1% from the same quarter a year ago, according to numbers released Thursday by the …
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20 August
PayZen’s Hospital Bill Payment Plan and other Digital Transactions News briefs from 8/20/21
Working with fintech PayZen Inc., the Geisinger Hospital system is launching a plan that allows patients to make payments over time at zero interest. The plan requires a minimum unpaid balance of $250 after insurance payouts.Mobile-parking app provider PayByPhone said its service now works with more than 2,400 spaces across the campus of …
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19 August
Mastercard’s Credit Card Fees Find Themselves in the Cross-Hairs of a U.K. Class Action
While the two global payments networks have been embroiled in a controversy over merchant debit card fees in the U.S. market, they also face trouble in the United Kingdom over an even bigger issue: credit card interchange fees. That fact was thrown into relief early Thursday when Reuters reported the …
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19 August
Boku M-Payments Network Spans 90 Countries and other Digital Transactions News briefs from 8/19/21
Boku Inc. launched what it says is the world’s largest mobile-payments network. The M1ST Payments Network reaches 5.7 billion mobile-payment accounts in 90 countries and offers more than 330 payment methods, the company says.Global payments provider Adyen NV said Just Eat Takeaway.com, an online food-delivery marketplace, will issue its prefunded Takeaway Pay Card …
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18 August
PayPal Ups the Ante in Buy Now, Pay Later By Dropping Late Fees
With the popularity of the buy now, pay later alternative growing, especially for online purchases, PayPal Holdings Inc. announced Tuesday it will no longer charge late fees for missed payments on its installment products in the United States, the United Kingdom, and France, effective Oct. 1. PayPal has already eliminated …
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17 August
Pulse Debit Study: Online And Contactless Usage Surges While Wallets Assert Themselves
The story of debit cards in the pandemic year of 2020 turns out to have several chapters—including higher average tickets, a sharp swing to card-not-present usage, a dramatic surge in contactless adoption, and higher mobile-wallet usage. Meanwhile, account-to-account transfers turned out to be the fastest-growing form of debit, though usage …
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17 August
Vending-Payments Specialist Cantaloupe Targets Micro-Markets With Its Deal for Yoke
Building on a strategy of growing share of payments in the unattended retail market, Cantaloupe Inc. announced Tuesday its acquisition of Delicious Nutritious LLC, a Los Angeles-based micro-market payments company that operates under the trade name of Yoke Payments. The purchase price was not disclosed. The deal gives Cantaloupe, which earlier this …
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17 August
A 4X Increase in Phishing Attack Costs and other Digital Transactions News briefs from 8/17/21
The overall costs of phishing attacks on businesses have nearly quadrupled since 2015, rising from average losses of $3.8 million per company in 2015 to $14.8 million in 2021, according to research from cybersecurity and compliance company Proofpoint Inc. and Ponemon Institute.Uplift Inc., a buy now, pay later provider specializing in travel, …
