Checks currently account for almost half of business-to-business payments, but their share will decline to 34% by 2020 as automated clearing house payments surge from 32% of B2B payments today to 45% in three years. Those are some of the key results from a first-quarter survey by the Credit Research Foundation, …
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The World’s Two Biggest Digital Currencies Wrestle With Volatility, Capacity Issues
The two biggest cryptocurrencies are experiencing growing pains that could change their character and decide their fundamental purpose in the years to come. Bitcoin, the largest digital currency at a market capitalization of $42.6 billion as of Wednesday mid-morning, remains a volatile investment at the same time its users contend …
Read More »Ingenico Notes Integration Milestone and other Digital Transactions News briefs
Independent sales organization Bluefin Payment Systems said the U.S. Patent and Trademark Office issued the company two patents for data decryption; both patents encompass Bluefin’s Decryptx platform and online P2PE Manager System. Terminal maker Ingenico Group announced it has increased by 200% over the past year its integrations with integrated software vendors, acquirers, electronic …
Read More »Veem Makes Cross-Border QuickBooks Integration and other Digital Transactions News briefs
Discover Financial Services said it has enabled Samsung Pay on the latest Samsung Galaxy smart phones and wearables for its cards in the United States. Discover announced in 2015 that it would support Samsung Pay. Cross-border payments provider Veem, formerly known as Align Commerce, announced an integration with QuickBooks Online, used by small …
Read More »Flywire Adds PayPal Funding Choice and other Digital Transactions News briefs
U.S.-based cross-border payments provider dLocal said it has added three major Chinese payment systems—WeChat Pay, AliPay, and UnionPay—to its platform. The three account for more than 70% of the Chinese market, according to dLocal. In related news, Flywire Corp., which recently expanded its cross-border payments business to include business-to business transfers, announced it has added …
Read More »MRC Notes E-Commerce Fraud Arrests and other Digital Transactions News briefs
• The National Retail Federation announced that senior vice president and general counsel Mallory Duncan plans to retire at the end of August. Duncan joined the trade group in 1994 as general counsel and is a staunch advocate for merchants’ interests on payments issues. He plans to consult on payments and …
Read More »GlobalOnePay Expands UnionPay Service and other Digital Transactions News briefs
• Payment technology provider VeriFone Systems Inc. said it has integrated with the AirportConnect Common Use Payment Service from SITA, the big information-technology and communications specialist serving the air-transport industry, to bring electronic payment acceptance for multiple airlines and ground handlers at airport check-in desks, kiosks and bag drops via a …
Read More »Choke Point Figure Moves On and other Digital Transactions News briefs
• Juniper Research released a study estimating retailers globally will sustain $71 billion in card-not-present fraud over the next five years. The firm cites the U.S. move to EMV and “delays” in the arrival of the 3D Secure 2.0 protocol among the reasons for the forecasted losses. • Michael S. Blume, …
Read More »Chargebacks Tied to EMV Transition and other Digital Transactions News briefs
• PNC Bank N.A. said its Visa commercial cardholders can use their cards in Apple Pay and Samsung Pay, a move that PNC said makes it one of the first U.S. banks to enable mobile wallet payments for its commercial cards. • A survey from Vesta Corp. found that 62% of 155 …
Read More »CFPB Considers Another Prepaid Rule Delay and other Digital Transactions News briefs
• The Consumer Financial Protection Bureau has issued a proposal adjusting certain provisions of its massive rule for prepaid accounts and asking for comment on whether the effective date for the rule should be delayed a second time. The proposed adjustments concern requirements for error resolution on unregistered accounts and wider flexibility for credit …
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