Digital Transactions Authoritative, insightful and timely information for payments professionals
Chase Replacing Prepaid Liquid Card With a Bank Account
Banking giant JPMorgan Chase & Co. is discontinuing its Chase Liquid general-purpose reloadable prepaid card and replacing it with a checking account called Chase Secure Banking, which has many of the same features but requires the customer to open a Chase bank account. Launched in 2012 and aimed mainly at lower-income consumers, the Visa-branded Liquid …
In an Active Week for Worldpay, the Big Processor Says It Will Be Amazon Pay’s First Acquirer
As if the announcement of its pending merger with Fidelity National Information Services Inc. wasn’t enough news for one week, Worldpay Inc. on Wednesday said it will acquire Amazon Pay transactions for online merchants. The news means Cincinnati-based Worldpay has become the first merchant acquirer to work with the retailing giant’s payments service, which is …
The Fed’s Defining Security Moment and other Digital Transactions News briefs from 3/20/19
The Federal Reserve announced the 22 members of its new Fraud Definitions Work Group, another component of its sweeping Payment System Improvement Project. The group, which comes from the banking and payments industries, regional Fed banks, and other organizations, will work with Fed leaders on recommendations for improving the quality and consistency of automated clearing …
The Cboe’s Move to Stop Bitcoin Futures Trading May Not Be All That Hard a Hit
The decision by Cboe Global Markets Inc. to shut down its Bitcoin futures market, news of which emerged late last week, may have been seen as yet another blow to the digital currency’s bid for mainstream respectability. But in some respects Bitcoin may not be any worse off for the Cboe’s decision, observers say. Indeed, …
Instagram Testing Shoppable Ads With PayPal as Its Payments Partner
So-called shoppable ads could get a big boost if a tap-and-buy test announced Tuesday by Facebook Inc.’s Instagram social network succeeds, a test in which PayPal Holdings Inc. is the payment processor. Other social networks and Internet sites have rolled out or begun testing shoppable ads, including Pinterest, Snap Inc.’s Snapchat, and Alphabet Inc.’s Google, …
P2P Users Value Speed and other Digital Transactions News briefs from 3/19/19
Fifty-nine percent of consumers cited the ability to pay quickly as a reason they use peer-to-peer payments apps, according to a survey of more than 380 consumers from Tallwave, a digital-services firm. More than 65% have used PayPal and 37% have used Venmo, PayPal’s P2P payment service. Verifi Inc. launched its Self-Service Chargeback Representment service …