Square announced its Afterpay buy now, pay later service is available to in-person point-of-sale merchants in the United States and Australia who use Square Point of Sale, Square for Retail, Square Appointments, or Square for Restaurants. In the first quarter, Square, a unit of Block Inc., said the average transaction size with Afterpay …
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In Transit Payments, Collaboration Is Key
Agencies that work with vendors on innovation and service will get more of both. Word on the street is that some transit agencies are choosing to opt for more modular approaches when it comes to their transit-payment systems, picking and choosing different vendors for different parts of their systems. Agencies …
Read More »The 14th Annual Field Guide to Innovative Payments
It’s May, and that means it’s time for our annual exercise to seek out and describe the nonbank players, apart from the big networks, that are rewriting the rules for the digital exchange of value. Since 2004, Digital Transactions has traced the course of payments innovation through its nimblest practitioners—the …
Read More »Merchant Survey Highlights Surprising Global Trends in Payments and Fraud
By Tracy Kobeda Brown – VP of Programs and Technology and Leo Parrill – Content Manager, MRC The annual Global Payments and Fraud Report, produced in collaboration with Cybersource, Verifi, and the Merchant Risk Council, serves as a valuable benchmark in the payments and fraud prevention space, providing insight …
Read More »Sila’s Instant Settlement Service and other Digital Transactions News briefs from 4/18/22
Sila Inc., a software platform for fintechs, launched Instant Settlement, a service that offers immediate access to automated clearing house debits executed on its platform.Canada-based business-to-business payments platform Versapay announced it has closed on its acquisition of U.S.-based DadeSystems, an accounts-receivable software specialist. Terms were not disclosed.Synchrony Financial reported first-quarter net earnings of …
Read More »Often Overlooked, Checkout Is Assuming New Significance in Payments, Experts Say
Customer checkout, whether online or at a store, can be taken for granted by merchants and payments firms alike. That’s a big mistake, according to a panel of experts who spoke Wednesday about new opportunities—and threats—lurking in checkout buttons. For one thing, checkouts can represent a battleground in which players …
Read More »Open Banking Gains More Ground As MX Eases Money Movement for Qolo’s Platform
The drive towards open banking gained additional momentum Friday with the announcement Friday of a partnership between Qolo, an omnichannel platform provider to fintechs, and open-banking platform provider MX Technologies Inc. The partnership, which formalizes an existing working relationship between the two companies that has produced more than 30 joint …
Read More »Is Covid-19 in the Rearview Mirror?
It may well be, but its effects are very much with us—and are lasting. Two years after it first struck, as the Covid-19 pandemic seemingly winds down, the payments industry is adapting to changes Covid coaxed into place that will stick around a lot longer than the virus that caused …
Read More »Fiserv and MX Pair Up for Expanded Open Banking
The fast-growing field of open banking got another boost Monday when the big payment processor Fiserv Inc. announced a major industry player, MX Technologies Inc., will use its AllData Connect service. AllData Connect is part of Fiserv’s AllData Aggregation platform that provides consumer-permitted access to tokenized financial account and transaction …
Read More »The Payments Industry Reacts to Biden’s Order to Lay the Groundwork for Crypto Regulation
The steady development of the cryptocurrency industry worldwide and domestically has led the executive branch of the federal government to lay the groundwork for regulation of these assets. The move, embodied in an executive order signed Wednesday by President Joe Biden, has drawn applause from some payments trade groups, though …
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