Digital Transactions Authoritative, insightful and timely information for payments professionals
Digital-payments provider Wirex says it is working with ZeroFox Holdings Inc., a provider of cybersecurity technology, to incorporate ZeroFox’s Dark Web Monitoring app into its platform. Wirex’s blockchain-based service enables consumers to buy, sell, send, spend, and store fiat and crypto currency through the Wirex digital wallet. ZeroFox’s Dark Web …
January, 2024
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3 January
RDE Views Its CardCash.com Acquisition As a Boost in the Gift Card Market
RDE Inc., owner of Restaurant.com, a popular dining-deals site, has closed on its acquisition of CardCash Exchange LLC, operator of CardCash.com, a secondary gift card marketplace. The deal advances RDE’s presence in gift cards for consumers and merchants. The combined business accounted for more than $100 million in revenue in …
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3 January
Kindcard To Acquire OpenTransact And Other Digital Transactions News briefs from 1/3/24
Kindcard Inc., which among other services provides closed-loop payments technology connecting businesses and consumers, said it has entered a letter of intent to acquire OpenTransact from AcePay Inc. OpenTransact offers a banking platform that supports high-risk merchants. Terms were not disclosed. The tokens USDT and USDC dominate the stablecoin market, …
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2 January
BNPL Growth Pegged at 48% And Other Digital Transactions News briefs from 1/2/24
Buy now, pay later volume globally will grow 48.3% in 2024, to $232.2 billion, according to a projection from The Business Research Co. Increasing adoption at physical retail stores, growth in cross-border e-commerce, and the rise of financial apps embedding BNPL capability will help account for the growth, the firm said. …
December, 2023
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28 December
Visa Enhances Merchant Security in the Era of Digital Fraud
As the digital economy continues to grow, people are relying on virtual transactions more than ever. But with the expansion of digital money movement comes new opportunities for fraudsters to exploit merchants and their customers. In today’s economy, fraudulent activity can happen anywhere, to just about anyone. Digital cybercriminals are …
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28 December
TurboTenant in Lula Fee Deal And Other Digital Transactions News briefs from 12/28/23
TurboTenant, an online property-management platform that enables landlords to collect rent payments, said it will work with Lula, a property-maintenance firm, for maintenance services and payment of service fees. Some 600,000 landlords are said to use TurboTenant’s platform. MoneyGram and Stellar Development Foundation announced they have invested an undisclosed sum in …
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27 December
Lowe’s Adopts Apple Pay And Other Digital Transactions News briefs from 12/27/23
The big home-improvement chain Lowe’s has started to accept Apple Pay in its stores, according to reports. The chain, which maintains more than 2,000 U.S. stores, has long accepted Apple Inc.’s mobile-payment service online and in its app.
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26 December
Retail Sales up 3.1% And Other Digital Transactions News briefs from 12/26/23
U.S. retail sales, excluding automotive products, grew 3.1% year-over-year in the Nov. 1 through Dec. 24 period, according to Mastercard Inc.’s SpendingPulse. The result is not adjusted for inflation. Standouts were e-commerce sales, up 6.3%, and restaurants, at 7.8%. The worst performer was jewelry, at negative 2%. Blockchain operator Paxos said it will …
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22 December
The CFPB’s Chopra Cites a Need for Competition to Cap Card Acceptance Costs
Having taken aim at credit card late fees and interest rates, and having targeted non-bank digital wallet providers, Consumer Financial Protection Bureau Director Rohit Chopra has now indicated his regulatory agency is turning its attention to credit card acceptance costs. Chopra’s comments Thursday came as the Credit Card Competition Act, …
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22 December
FDX’s Latest Update Offers Rules for Account Opening And Two-Way Fraud Notices
The data-sharing routines undergirding a wide variety of payments services offered by fintechs like PayPal and Block depend on open banking, which has emerged to enable crucial information transfers from financial institutions while keeping sensitive account data from falling into the wrong hands. Now the latest update to the rules …