Square and Afterpay merchants counted 70 million transactions over the Black Friday-Cyber Monday holiday weekend, up 14% from the same period in 2022, Square said. In-person shopping increased 15% year-over-year. Amendments under consideration by Australia’s national government would impose on digital wallets like Apple Pay and Google Pay the same regulations as those enacted …
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Bold Adds Link Money Pay-by-Bank Option And Other Digital Transactions News briefs from 11/17/23
Checkout-technology provider Bold Commerce said it is working with Link Financial Technologies Inc. to enable Bold Commerce’s client merchants to lower acceptance costs via Link Financial’s open-banking capabilities. Payments provider Bankful said it has enabled an integration to e-commerce platform Woo (formerly WooCommerce) to widen the choice of payments for Bankful client merchants to …
Read More »Zelle’s New Education Campaign And Other Digital Transactions News briefs from 11/14/23
Zelle, the person-to-person payment service from Early Warning Services LLC, said it will launch a consumer education campaign video series this month to help educate consumers how to spot and avoid financial scams, specifically imposter scams. Zelle, in a statement to Digital Transaction News, also said most Zelle transactions—99.9%—are without any …
Read More »The CFPB Aims To Increase Its Oversight of Non-Bank Digital Wallet Providers
The Consumer Financial Protection Bureau late Tuesday said it is expanding its efforts to increase oversight of large, non-bank technology firms with a proposed rule that would subject companies that issue digital wallets to the same regulations as those that cover wallets from financial institutions. The proposed rule, which would …
Read More »Bitpay’s Crypto Move And Other Digital Transactions News briefs from 10/25/23
Bitpay, a provider of cryptocurrency-based payments services, said it is working with crypto-technology provider Banxa to enlarge access to payments using digital currency. Shield Compliance, a compliance provider for cannabis banking, issued an open letter to American Express, Discover, Mastercard, and Visa calling on the networks to permit financial institutions …
Read More »Visa’s AR Manager And Other Digital Transactions News briefs from 10/23/23
Visa Inc. announced it will start a pilot in November for Visa AR Manager, a platform intended to automate more functions in commercial card acceptance. PayNearMe, a specialist in payments for iGaming and sports betting, will add to its MoneyLine platform the “Cardless Cash at ATM” feature from NCR Atleos Corp. …
Read More »Rainforest Raises $11.75 Million And Other Digital Transactions News briefs from 10/9/23
Rainforest, an Atlanta-based platform for embedded payments, has closed on an $11.75-million seed funding round led by Accel. Beverly, Mass., has contracted with Passport for support of mobile payments for parking in the town. Passport claims more than 800 cities and other entities using the app. Instant Financial, a provider of earned-wage …
Read More »FedNow Tally at 108, up from 35 And Other Digital Transactions News briefs from 10/3/23
The Federal Reserve said FedNow, its real-time payments service that launched in July with 35 banks and credit unions, now counts 108 participating institutions with 21 others providing liquidity and settlement services and 20 service providers. Kenneth C. Montgomery, the Federal Reserve Bank of Boston first vice president and chief operating officer who spearheaded …
Read More »Eye on Wallets: BMO’s Virtual Card Move; Startup Tezro Deploys a Wallet
Digital wallets continue to find a foothold in payments. The latest entry is BMO Commercial Bank’s debut of Extend, a virtual card service for its app. And startup Tezro launched a digital wallet aimed at integrating banking, payments, and shopping through messaging apps consumers already use. BMO Commercial Bank, a …
Read More »TouchBistro Updates POS System And Other Digital Transactions News briefs from 8/23/23
Restaurant point-of-sale provider TouchBistro launched a set of back-of-house technologies, including profit-management and kitchen display systems. Payments provider NMI released first-half 2023 results indicating the company ended the period with connections to more than 3,900 independent software vendors, sales agents, and fintechs. So far, these links have generated more than 2.3 billion transactions and …
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