July 21, 2023
Acquiring, Competitive Strategies, Credit Cards, Debit Cards, Fraud & Security, Marketing, Prepaid Cards, Real-time Payments
Service provider Finzly said it supports the FedNow real-time payments service that launched Thursday. Other providers— Jack Henry & Associates Inc. and Pidgin—also support the instant payment service. Fiserv Inc. said two of its clients are live on FedNow and nearly 100 others anticipate doing so in coming months. Banking services provider CSI said it offers FedNow access and noted …
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July 11, 2023
Acquiring, Competitive Strategies, Credit Cards, Debit Cards, E-Commerce, Marketing, Mobile Commerce, Mobile Wallets, Point-of-sale, Prepaid Cards, Transaction Processing
Entertainment-streaming platform Roku says a partnership with Shopify Inc. will provide viewers the ability to purchase products from Shopify merchants directly from their TV through Roku Action Ads. It works like this: When viewing an ad for a Shopify merchant, viewers press OK on their Roku remote to learn more …
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July 11, 2023
Acquiring, Competitive Strategies, Credit Cards, Debit Cards, E-Commerce, Fraud & Security, Issuing/Originating, Mobile Commerce, Mobile Wallets, Point-of-sale, Prepaid Cards, Real-time Payments, Transaction Processing
Point-of-sale technology provider Adyen NV has added Tap to Pay on Android, which allows merchants to accept contactless card payments directly on a mobile device with no additional hardware. Adyen is adding the technology initially in the United States and Singapore. Checkout.com launched Identity Verification, a tool based on artificial intelligence that allows …
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July 5, 2023
Credit Cards, E-Commerce, Issuing/Originating, Marketing, Mobile Commerce, Mobile Wallets, Point-of-sale, Prepaid Cards, Transaction Processing
The global digital gift card market is projected to reach $1.2 trillion in 2032, up from $310.1 billion in 2022, according to a report from market research firm Custom Market Insights. In 2023, CMI projects sales of digital gift cards will total $399 billion, a more than 28% year over …
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June 30, 2023
Credit Cards, Debit Cards, Issuing/Originating, Point-of-sale, Prepaid Cards, Transaction Processing
On Saturday, a final rule issued in October by the Federal Reserve goes into effect, requiring that all issuers offer a choice of at least two networks for routing online debit card transactions. The update, derived from the 2010 Durbin Amendment, has been a bone of contention for years between merchants and issuers. …
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June 27, 2023
Acquiring, Competitive Strategies, Credit Cards, Debit Cards, Digital Currency, E-Commerce, Fraud & Security, Mobile Commerce, Point-of-sale, Prepaid Cards, Transaction Processing
Travel companies experienced a 71% growth in chargebacks in the past few years, according to the “Tackling the Travel Chargeback Challenge” report from Outpayce from Amadeus, a global travel company. The survey canvassed 46 airline and travel agent executives in the second quarter. The Accredited Standards Committee X9 Inc. started an industry forum …
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June 22, 2023
Acquiring, Competitive Strategies, Credit Cards, Digital Currency, E-Commerce, Fraud & Security, Issuing/Originating, Marketing, Near-Field Communication (NFC), Point-of-sale, Prepaid Cards, Transaction Processing
Open banking specialist Plaid launched Plaid Beacon, an anti-fraud network for fintechs and financial institutions. The fintech Karma Wallet has allied with card-issuing platform Marqeta Inc. to introduce a prepaid card offering cash-back rewards from merchants said to be local, ethical, and sustainable. PayEm, a spend-management platform, has integrated with American Express to allow …
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June 20, 2023
Competitive Strategies, Issuing/Originating, Law and Regulation, Marketing, Mobile Wallets, Prepaid Cards, Transaction Processing
The new revenue opportunity associated with online gambling compels many payments companies to court gaming providers. Blackhawk Network, the prepaid card specialist, is the latest to do this with the expansion of its Game On card to Maryland, Kansas, and Wyoming. Game On cards enable consumers add funds to their …
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June 16, 2023
Acquiring, Kiosks & Ticketing Machines, Law and Regulation, Point-of-sale, Prepaid Cards, Transaction Processing
For decades, payments providers have sought to displace cash by attempting to move merchants toward card-based and digital payments, arguing that they are faster, more convenient, and more secure to accept than cash. Now they are finding that proponents of cash acceptance are pushing back. Late Thursday, legislation was reintroduced …
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June 14, 2023
Credit Cards, Debit Cards, E-Commerce, Issuing/Originating, Mobile Commerce, Mobile Wallets, Person-to-Person Payments, Point-of-sale, Prepaid Cards, Real-time Payments, Smart Cards, Transaction Processing
The Consumer Financial Protection Bureau is looking at creating a rule to define so-called larger companies in the consumer-payments industry, according to a notice the regulator posted on Tuesday. The rule if established would clarify the CFPB’s supervisory authority with respect to nonbank payments companies, lending more impetus to a …
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