Monday , September 16, 2019

Apple Pay Volume Exceeds 1.8 Billion and other Digital Transactions News briefs from 1/30/19

  • Apple Pay processed more than 1.8 billion transactions in fiscal 2019’s first quarter ended Dec. 31, “well over twice the volume” of the year-earlier quarter, Apple Inc. CEO Tim Cook told analysts late Tuesday, according to a SeekingAlpha.com call transcript. Apple Pay is now live in 27 countries, most recently Germany, Belgium and Kazakhstan. New merchant acceptors include Target, Taco Bell, Speedway, and Jack in the Box.
  • Growth on the automated clearing house network continued apace in the fourth quarter, with the system logging more than 5.9 billion transactions, up 8.7% year-over-year and the fastest growth in 11 years, according to NACHA, the ACH’s governing body. Same-day ACH transactions—credits and debits combined—grew 46% to 51.3 million for the quarter.
  • Mobile remote deposit capture and identity-verification software provider Mitek Systems Inc. reported revenue grew 46% year-over-year to $17.7 million in the first quarter of fiscal 2019 ended Dec. 31. The company posted a net loss of $3.2 million versus a $5.74 million loss a year earlier. Talk of a possible buyout of Mitek has had “no impact with customers whatsoever,” new CEO Max Carnecchia told analysts.
  • Pushpay Holdings Ltd., a payments provider for U.S. faith-based organizations, announced several product updates, including campaign and pledging capability.
  • Data-security provider Sift released the “Digital Trust & Safety: Aligning Security and Growth Strategies” report that found that 64% of the 500 executives surveyed face payment fraud in their jobs. Sixty-three percent contend with fake accounts and 42% deal with account takeovers.
  • E-commerce platform eBay Inc. reported its new managed-payments program processed $143 million in volume from its inception Sept. 25 through the end of 2018. The number of sellers participating in the program, in which Adyen provides payments-gateway services, grew by a thousand to approximately 3,500, eBay reported, generating a cost savings of 25% compared to the published fees for PayPal, which eBay is phasing out as its principal processor.
  • Mercator Advisory Group Inc. said 54% of consumers in its most recent Insight Summary Report use debit cards for purchases, a figure that has declined steadily since 2011.
  • The National ATM Council Inc. announced a “Year of the ATM in America” to celebrate the 50th anniversary of the first ATM installation in the United States on Sept. 2, 1969.

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