Whether most consumers will ultimately use Alexa or Siri or some other voice-activated device to make purchases may depend crucially on how much money is at risk. As it turns out, slightly more than half of U.S. consumers would be comfortable using the technology to pay for relatively small-ticket goods …
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PAX Device Certified and other Digital Transactions News briefs from 7/23/19
PAX Technology Inc. said its S920 mobile point-of-sale device received certification from Verizon and AT&T.U.S. truck fleets are cutting their total fuel expenses by approximately 7% via loyalty programs offered on fuel cards, according to researcher SpendEdge. This benefit in turn is driving growth in the fuel card market, the research firm …
Read More »Allied Wallet Settles With the FTC and other Digital Transactions News briefs from 7/19/19
The Federal Trade Commission said payment processor Allied Wallet, its CEO and owner Ahmad “Andy” Khawaja, and two company officers agreed to settle FTC charges that they assisted numerous scams by knowingly processing fraudulent transactions that took more than $110 million from consumers’ account.The two-day Amazon Prime Day event this week sold more than 175 …
Read More »Volume on eBay’s New Managed-Payments Platform Grows
Online marketplace eBay Inc. saw further growth on its new, post-PayPal managed-payments platform in the second quarter despite a decline in gross merchandise volume. San Jose, Calif.-based eBay on Wednesday said the platform accounted for more than $270 million in GMV in the June-ending quarter, up 24% from the first …
Read More »Fiserv-FDC Deal Clears a Regulatory Review and other Digital Transactions News briefs from 7/18/19
Fiserv Inc.’s $22 billion acquisition of First Data Corp. cleared a U.S. Department of Justice review, the company said Thursday. In April, the Justice Department asked for more information and documents related to the deal, but, according to a Fiserv filing with the Securities and Exchange Commission, the DoJ attached no conditions …
Read More »12% Increase for Chase Merchant Acquiring and other Digital Transactions News briefs from 7/16/19
JPMorgan Chase & Co. reported its merchant-acquiring subsidiary processed $371.6 billion in payments in the second quarter, a 12% increase from a year earlier. On the issuing side, the massive banking firm reported $281.5 billion in second-quarter credit and debit card sales volume, up 10%. Wells Fargo & Co. reported …
Read More »Litecoin Suits up for the Miami Dolphins and other Digital Transactions News briefs from 7/15/19
The Litecoin Foundation said the Miami Dolphins National Football League team named Litecoin its official cryptocurrency. The digital currency will be accepted for payment for ticket purchases in the team’s 50/50 raffle. Bitcoin also may be used for these ticket purchases. Citigroup Inc. reported $93.2 billion in second-quarter purchase volume …
Read More »Cyberint Warns About Prime Day Threat Traffic and other Digital Transactions News briefs from 7/12/19
Likening Amazon Prime Day, which takes place July 15-16, to Black Friday and Cyber Monday, threat-detection firm Cyberint warns that so-called threat traffic will run 30% higher than usual in the days leading up to, including, and shortly after Prime Day, in line with the volume experienced during the holiday …
Read More »How IDs Invented out of Whole Cloth Have Become a Fast-Growing Scourge in Payments
Synthetic identity fraud has become the fastest-growing and one of the most difficult financial crimes to detect in the United States, says a white paper released this week by the Federal Reserve. Lenders in the United States lost $6 billion to synthetic identity fraud in 2016, with the average chargeoff …
Read More »Amazon Prime Day Starts Monday And Is Shaping up To Be a Payments Bonanza
Amazon Prime Day is set for next week, and by all accounts Amazon.com Inc.’s online and in-store shopping frenzy is likely to be a payments-palooza. The event, which despite its name is set to cover two full days—July 15 and 16—this year, will generate $5.8 billion in sales, with $3.6 …
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