Monday , December 9, 2024

Transaction Processing

Mastercard’s AI-Powered Shopping Muse Has Been Deployed by Michael Kors

Retailer Michael Kors is getting into the artificial intelligence-powered shopping recommendation business with the adoption of Shopping Muse, a recommendation engine from a Mastercard Inc. company. Developed by Dynamic Yield, a data-personalization platform Mastercard acquired from McDonald’s Corp. in 2022, Shopping Muse employs artificial intelligence to make recommendations and further …

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The U.S. Payments Forum Looks to Multi-Factor Authentication to Fight Phishing

As criminals’ knowledge of how to beat multi-factor authentication through phishing schemes increases, the need for payment providers to implement phishing-resistant solutions continues to grow. Phishing attacks are a form of social engineering in which cybercriminals deceive consumers into revealing personal and account information. The cybercrime can also involve installation …

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Elavon Expands in Mass Transit With Contactless Fare Payments on Philadelphia’s SEPTA

In a major win in the expanding market for digital payments for mass transit, Elavon Inc. said it will support contactless payments for the Southeastern Pennsylvania Transportation Authority, the seventh largest U.S. transit system with 45.6 million riders per year, according to the American Public Transportation Association. The new service, …

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35% Intend To Add Faster Payments and other Digital Transactions News briefs from 6/7/24

The U.S. Faster Payments Council released its “Faster Payments and Financial Inclusion” survey report that found that 35% of respondents did not have a faster payments integration but planned to do so. The survey canvassed 88 organizations. Technology firm EvonSys Inc. launched its Evonsys Payments Platform for cross-border transfers. The new service integrates capabilities …

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Affirm Adds New Payment Options And Partners to Attract Omnichannel Merchants

Buy now, pay later provider Affirm Holdings Inc. has expanded its payment options to include Pay in 2 and Pay in 30. The new BNPL options are intended to provide consumers with more flexibility in budgeting their monthly income, the company says. Data from the Bureau of Labor Statistics shows …

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The Best Tipping State and other Digital Transactions News briefs from 6/6/24

Toast Inc., a provider of pay-at-table payments devices for the hospitality market, reported data derived from 112,000 restaurant locations in its Q1 2024 Restaurant Trends Report. Among the results: Tipping is most generous in Delaware, where it averages 22.1% of the bill. Mastercard Inc. said it is integrating Deposit Switch and …

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Is eBay’s Decision to Drop AmEx a Ploy To Negotiate Lower Acceptance Costs?

EBay Inc.’s decision to stop accepting American Express cards effective Aug. 17 is generating big headlines, but some payments-industry experts question whether the decision is really a tactic to negotiate a lower interchange rate from the travel-and-entertainment card giant, given that eBay says it won’t stop accepting AmEx for about …

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Adyen’s Payment Tech Finds a Home at Prada

Italian fashion house Prada is adopting omnichannel payments technology from Adyen NV in a bid to build a single financial technology platform across all its retail channels. Tap to Pay on iPhone in Prada’s U.S. locations and its Milan store is a centerpiece of the partnership, Adyen says, and potentially …

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Eye on POS: With Cheq, Cantaloupe Furthers Its Push Into Sports Venues; InterPayments Launches Surcharging Tech

Cantaloupe Inc. announced early Tuesday it will install its Cheq point-of-sale platform at professional soccer club Detroit City FC’s home stadium for all games and live events. Cantaloupe will begin providing POS services at the stadium in June as part of a multi-year deal. The deal builds on Cantaloupe’s acquisition …

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Visa Marks 10 Billion Tokens Since Launching the Technology a Decade Ago

Visa Inc. says the 10 billion tokens it’s issued since 2014 are just the tipping point, as it expects Visa’s tokenized transactions to grow exponentially over the next several years. Visa announced the 10-billion milestone Tuesday. As of April, 29% of all transactions processed by Visa used tokens. Tokenization uses …

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Digital Transactions