Digital Transactions Authoritative, insightful and timely information for payments professionals
Consumers spent a record $241.4 billion online from Nov. 1 to Dec. 31, 2024, an 8.7% increase from the same period a year earlier, Adobe Analytics reports. During this period, single-day online sales totaled more than $4 billion on 15 days, up from 11 days in 2023. Smart phones accounted …
January, 2025
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7 January
Eye on Point of Sale: Elo’s New Display; FreedomPay’s Verifone Partnership; Blaze’s Sage Integration
Point-of-sale systems makers are already putting 2025 to work, with multiple announcements from vendors. First, Elo Touch Solutions Inc. launched a 10-inch point-of-sale system for retailers and restaurateurs. The Elo Pay 10” is built on the Android operating system. In addition to contact and contactless payment acceptance, the device has …
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6 January
Affinity FCU Partners With a Payments Fintech to Boost Financial Literacy
Affinity Federal Credit Union is working with fintech Greenlight Financial Technology Inc. to launch a financial-literacy program. The program will provide Affinity members and their families free access to Greenlight’s mobile app and debit card for kids and teens. The app allows parents to manage their child’s spending, send money, …
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6 January
Services and Retail Consumer Spending Boost Fiserv’s Small Business Index
Small-business sales were up 4.9% year-over-year in December as consumers maintained strong retail spending while diverting more to service-based businesses, found the latest Fiserv Small Business Index. Launched a year ago, the index analyzes transaction data from approximately 2 million U.S. small businesses on the Fiserv Inc. and Clover point-of-sale …
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6 January
PayPal Faces Discrimination Lawsuit and other Digital Transactions News briefs from 1/6/25
An Asian-American businesswoman named Nisha Desai has sued PayPal Holdings Inc. on grounds of racial discrimination, alleging the company restricted some of a $535-million investment commitment to Black and Hispanic candidates. The suit, filed in U.S. District Court for the Southern District of New York, asks for unspecified damages and an order …
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3 January
The IRS Rings in 2025 With New Reporting Requirements for P2P Networks
The Internal Revenue Service will begin requiring peer-to-peer payment apps in 2025 to issue 1099-K statements to self-employed workers who received more than $5,000 in payments through those apps in 2024. The new requirement, which is being implemented after a two-year delay, applies to such P2P apps as PayPal, Venmo, …
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3 January
The Payments Industry Works to Solve for X
The payments industry is heading into the new year with a significant question mark hanging over its head: What does it mean that the massive social network X is apparently planning to launch a payments network? Little is known so far about the initiative. A New Year’s Eve post on …
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3 January
LootUpApp’s AI to Ease Crypto Transactions and other Digital Transactions News briefs from 1/3/25
A software company called Quantum International Corp. said it will launch LootUpApp, technology that it says will use artificial intelligence to help simplify cryptocurrency transactions. A specific date for the launch was not announced. The global prepaid card market is forecasted to have an 18.2% compound annual growth rate through 2031, a Verified Markets …
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2 January
If Top Card Execs Must Testify, So Should Merchant Leaders, CCCA Opponents Argue
[Editor’s note: Originally posted Feb. 15, this article is #1 in Digital Transactions News’ countdown of 2024 posts by views.] Days after Sen. Dick Durbin, D-Ill., sent letters to the chief executives of Visa Inc. and Mastercard Inc. demanding they testify before the Senate Judiciary Committee about their opposition to the Credit Card …
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2 January
For Cap One, the Pulse Network Is the ‘Rare Asset’ in Its $35.3 Billion Deal for Discover
[Editor’s note: Originally posted Feb. 20, this article is #2 in Digital Transactions News’ countdown of 2024 posts by views.] (Editor’s Note: This story follows up on news late Monday concerning a planned acquisition of Discover Financial Services by Capital One Financial Corp.) On the Tuesday morning after news broke that credit …
