- 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.
The Federal Reserve announced the 22 members of its new Fraud Definitions Work Group, another …