PayPal Holdings Inc. reported $7.3 billion in June-quarter net revenue, up 7% year-over-year, as total payment volume grew 11% to $376.5 billion. Payment transactions were up 10%, to 6.1 billion. Total active accounts increased only slightly to 431 million from 429 million a year ago. Net income swung from a loss …
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Tap to Pay in North America And Other Digital Transactions News briefs from 7/27/23
Payments-technology provider Aevi said it is working with contactless-technology firm Bleu to offer tap-to-pay functionality in North America and Europe on both Android and iPhone devices. Cross River Bank said it will enable an expanded menu of payment options through open-banking platform Plaid, including instant transfers for payroll and other applications. Payments provider Lightspeed …
Read More »PayRange Finds its Spot in the Campground and RV Market And Other Digital Transactions News briefs from 7/7/23
PayRange Inc., a provider of mobile payments for unattended markets, has extended its reach into the campground and RV parks market. Payments-technology provider NovoPayment released Orchestra 2.0, a payments-orchestration layer aimed at financial institutions. Paybotic Financial, a payments platform specializing in the cannabis industry, said it has joined the Emerging Market Coalition, a nonprofit …
Read More »Tyfone Readies for FedNow And Other Digital Transactions News briefs from 6/21/23
Digital-banking platform Tyfone Inc. said it will work with One Credit Union to offer a real-time payment service certified for FedNow, the national real-time payments system that the Federal Reserve is expected to launch next month. Jane Technologies Inc. introduced a point-of-sale system customized for cannabis stores. Smart Pay has launched its Smart Pay …
Read More »Sylq Selects ThetaRay And Other Digital Transactions News briefs from 5/30/23
ThetaRay Ltd., a U.S. and Israeli provider of transaction-monitoring technology based on artificial intelligence, said France-based payments provider Sylq has contracted to use its customer-screening product. Fingerprint-authentication provider IDEX Biometrics is working with security firm AuthenTrend to offer smart cards for digital authentication in such applications as cryptocurrency wallets. The product’s launch …
Read More »Engage’s Transaction Twist And Other Digital Transactions News briefs from 5/17/23
A startup fintech called Engage has launched a communication channel allowing customers and merchants to interact via purchase transactions through card networks. In the hotly contested hospitality point-of-sale market, Lightspeed Commerce Inc. launched the newest version of its Lightspeed Restaurant set of technologies, which is immediately available in the U.S. market. Security firm Sophos said it …
Read More »Modern Treasury’s Cross Border Payments Plan And Other Digital Transactions News briefs from 3/3/23
Payments-technology provider Modern Treasury and Silicon Valley Bank launched what they call a global payment solution to let clients of the two companies send cross-border payments at lower than prevailing costs and using local automated clearing house networks. SpecTrust Inc., whose Trust Cloud offers fraud protection for online transactions, said it has …
Read More »42% of Income Spent on Bills And Other Digital Transactions News briefs from 2/22/23
The average U.S. household spends $29,459 per year on bills, amounting to 42% of income, according to the “2023 U.S. Bill Pay Market Size & Category Breakout Report” from bill-pay processor doxo. Mission Lane, a fintech providing access to credit and debit products to more than 2 million consumers, said it …
Read More »Amazon’s 2022 Performance And Other Digital Transactions News briefs from 2/3/23
Amazon.com Inc. reported net sales of $514 billion for 2022, up 9% over 2021, excluding an impact from changes in foreign-exchange rates. Sales in the North American market grew 13% over 2021, to $315.9 billion. The company recorded an operating loss of $2.8 billion in North America, swinging from a positive …
Read More »Zelle for Small Business And Other Digital Transactions News briefs from 2/2/23
Citizens Financial Group Inc. has launched the Zelle peer-to-peer payments service for the bank’s small-business customers. U.S.-based Clickatell said it has deployed its Chat 2 Pay service with a pay-by-link capability for FlySafair, a South African airline for mobile payments via’s FlySafair’s WhatsApp channel. Payments provider Lightspeed Commerce Inc. announced it processed $22.4 billion in volume for …
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