Buy now, pay later provider Splitit Payments Ltd. has launched an installment-payment option for financial institutions that consumers can access at the point-of-sale. Financial institutions can offer the option by connecting directly to Splitit’s merchant networks, through a direct link or through a card network. The payment option, called FI-PayLater, …
Read More »Visa Joins the Amazon Partner Network As Fintechs Turn to the Cloud for Payments Acceptance
Visa Inc. said early Thursday it has joined a network of service providers maintained by Amazon.com Inc. The e-commerce giant’s AWS Partner Network will enable Visa to reach new clients for its payment services, particularly fintechs and independent software vendors (ISVs) accustomed to operating through cloud computing, Visa said. The …
Read More »QuickCharge And Just Walk Out Tech and other Digital Transactions News briefs from 4/25/24
Quickcharge, a division of Transact Campus Inc., completed an integration of Amazon.com Inc.’s Just Walk Technology at St. Joseph’s Hospital in Tampa that enables employees to use their badges to pay for food and beverages. Payments processor Elavon said it is expanding a partnership in Europe with commerce-technology platform FreedomPay to include …
Read More »DoorDash’s SNAP at 7,800 Walgreens Stores
Consumers using SNAP and electronic benefits transfer payments at a U.S. Walgreens Boots Alliance Inc. store now have broader access to the services through DoorDash Inc., a third-party delivery service. Announced Wednesday, the deal means Walgreens shoppers can use their SNAP/EBT payments card at any Walgreens, regardless of where they …
Read More »Steady Consumer Spending Helps Buoy Visa As It Strikes Deals for Open Banking
Citing “relative stability” across key business metrics, such as cross-border volume, Visa Inc. late Tuesday reported March-quarter increases of 10% year-over-year in both net revenue ($8.8 billion) and net income ($4.7 billion). Driven by stable consumer spending, dollar volume grew 8%, while total cross-border dollar volume grew 16% and processed …
Read More »Same-Day ACH Volume Maintains Growth Pace
Same-day ACH transactions helped fuel a strong first quarter for the automated clearinghouse network. Nacha, the governing body for the automated clearing house network, reported early Tuesday that same-day ACH transactions totaled 273.7 million during the quarter, a 47% increase from the same period a year ago. The dollar value …
Read More »A Fast-Expanding Clover Provides a Hot Engine for Growth at Fiserv
Fiserv Inc. has been an acquisitive payments processor in recent years, but it’s a deal the company concluded nearly five years ago that is energizing growth at the company. Fiserv’s $22-billion acquisition of First Data Corp. in the summer of 2019 brought Clover, a set of point-of-sale technologies that today …
Read More »MPC’s New CCCA Ad and other Digital Transactions News briefs from 4/23/24
The Merchants Payments Coalition released a 30-second TV ad that says the Credit Card Competition Act, a measure that would stipulate merchants have credit card routing choices, would prohibit China’s credit card network UnionPay from processing U.S. credit card transactions. Currently, no regulation prohibits that the MPC says. The CCCA, if passed, would …
Read More »Despite Increasing Ransomware Attacks, Fewer Victims Are Paying
Despite a spike in ransomware attacks, fewer companies are paying ransom demands to free their data. A report from ransomware-remediation firm, Coveware Inc. reveals that just 28% of companies hit by a ransomware attack during the first quarter of 2024 paid, a record low. The trend comes as ransomware attacks …
Read More »Amid Many Changes, Acquirers Retain Their Importance Among Card Brands
Though the big news about Discover Financial Services is its pending acquisition by Capital One Financial Corp., the acquiring segment remains vital to the card brand. “Our business model, being a network rail, is the right space for us,” Judith McGuire, Discover senior vice president of global products, told Digital …
Read More »