Digital Transactions Authoritative, insightful and timely information for payments professionals
The fast-growing buy now, pay later (BNPL) installment-credit option for online and in-store payments could reach $1 trillion in U.S. volume by 2025, or between 10 and 15 times the current level, according to a report released Tuesday by CBInsights, a New York City-based financial-service research firm. A confluence of several …
March, 2021
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3 March
BOPIS Messaging Soars and other Digital Transactions News briefs from 3/3/21
Mobile marketing specialist Vibes said brands sent 400% more mobile messages for buy online pickup in store and buy online pickup at curbside services in the 2020 fourth quarter than they did in the 2019 fourth quarter. Vibes predicted that both pickup options will continue to grow 45% in 2021.London-based digital payouts …
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2 March
Interchange Adjustments Will Add a Net $889 Million to Merchants’ Costs, an Analysis Says
With the two big payment networks set to raise by hundreds of millions of dollars the cost U.S. merchants pay for card acceptance, e-commerce merchants could see fee boosts while some segments—like travel-and-entertainment and low-ticket-value, quick-service merchants—could see some reductions. In total, rate tweaks scheduled by Visa Inc. and Mastercard …
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2 March
ACI’s Cash Deal with the IRS and other Digital Transactions News briefs from 3/2/21
ACI Worldwide Inc. said its ACI Payments Inc. unit will support an Internal Revenue Service initiative to allow taxpayers, including those who are unbanked or underbanked, to make cash payments through a new digital barcode feature from ACI and InComm Payments’ VanillaDirect Pay unit.P97 Networks Inc., a provider of mobile payments …
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1 March
E-Complish Teams With Plaid to Validate Accounts And Funds for ACH Transactions
In an effort to move automated clearing house transactions closer to real-time, E-Complish, a New York City-based payment processor, announced Monday it has teamed with data network Plaid Inc., to validate a bank account, and the funds in it, for ACH transactions. The service makes it possible for E-Complish customers …
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1 March
COMMENTARY: How Technology And Finance Are Leading a Rebound in Middle-Market Spending
Among its many impacts, the coronavirus pandemic has simultaneously interrupted and accelerated a slew of business trends. To see this dynamic in action, look no further than the investment pattern of the middle market over the last two years. When we set out to track how middle-market companies have been …
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1 March
Klarna Raises $1 Billion and other Digital Transactions News briefs from 3/1/21
Buy now, pay later specialist Klarna AB raised $1 billion in an oversubscribed equity funding round that pegged the company’s valuation at $31 billion. Major U.S. clients include Macys, Etsy, Sephora, Ralph Lauren, and Urban Outfitters.In related news, BNPL provider Splitit Payments Ltd. announced its merchant sales volume increased almost 180% in 2020 to …
February, 2021
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26 February
CardX Wins Its Kansas Surcharging Suit. Surcharging Bans Remain in Only Three States
CardX LLC, a surcharging-services provider, can now add another state to the list of places where it can do business. A federal judge ruled Thursday surcharging cannot be prohibited in Kansas. The decision leaves just Colorado, Massachusetts, and Connecticut with outright no-surcharge rules on the books. Filed May 29, 2020, …
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26 February
Mastercard Switched Transactions Volume Dips 1% and other Digital Transactions News briefs from 2/26/21
Switched transactions dipped 1% for the week ended Feb. 21 for Mastercard Inc. compared to the same week last year, the card network reported. It is the first weekly year-over-year dip in switched transactions for Mastercard so far this year and reflects a swing from 4% growth in the week ended Feb. …
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25 February
Clearent in Merger Deal and other Digital Transactions News briefs from 2/25/21
Payments provider Clearent LLC and Transaction Services Group, a New Zealand-based software and integrated payments provider, will merge and form Xplor Technologies, TSG announced. Terms were not disclosed. Both companies are part of investor Advent International’s portfolio. The combined company will serve more than 82,000 businesses that processed more than $27 billion …
