Monday , December 10, 2018

Competitive Strategies

Not All Financial Institutions Are on Board the Mobile-Banking Train

Payments experts may think mobile technology is crucial for banks and other financial-service providers, but it turns out a significant chunk of financial institutions don’t agree. Fourteen percent of respondents in a survey this summer of banks and credit unions said they not only don’t offer mobile payments and other …

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Pineapple Payments Links With Software Vendor and other Digital Transactions News briefs from 11/21/18

Processor Pineapple Payments said it is offering merchant services on the platform of OnPay Solutions, a provider of accounts-payable and accounts-receivable automation services for businesses. First Data Corp. launched its Clover Mini and Clover Flex smart point-of-sale terminals in Argentina. Elo, a bank-owned payment network in Brazil, agreed to work with …

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Mitek Suitor Urges the Company’s Board to Begin Talks

Rebuffed earlier this month, a hedge fund on Tuesday urged remote deposit capture and identity-verification software provider Mitek Systems Inc. to reconsider its rejection of a buyout offer and begin negotiations. In a letter to Mitek’s board of directors, New York City-based Elliott Management Corp. accuses the board of “old-fashioned …

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Online Fraud Losses Will More Than Double in Five Years, Juniper Forecasts

Payments companies and retailers have a sobering forecast to ponder for online fraud. By 2023, global online fraud losses from e-commerce, airline ticketing, money transfer, and banking services will grow from $22 billion projected in 2018 to $48 billion, says Juniper Research in a new report. Thanks to the proliferation …

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With Chinese Tourism Rising, 7-Eleven Starts Accepting Alipay And WeChat Pay in Canada

As Chinese tourists pour into the United States and Canada, merchants are preparing for them by outfitting their checkouts to accept WeChat Pay and Alipay, the two leading Chinese mobile-payments services. The latest is 7-Eleven Inc., which said Tuesday it is enabling acceptance of the two wallets at 35 stores …

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Stock Downturn Ensnares Some Payments Companies and other Digital Transactions News briefs from 11/20/18

The ongoing selloff of technology stocks is pulling down payments-industry shares despite no major negative earnings or other recent news from payment companies. Shares of 41 of 45 payments-related companies tracked by Digital Transactions News fell Monday. Downward pressure moderated Tuesday morning but still continued. Among the worst hit Monday …

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Worldpay Says Plastic Still Dominates Online Sales, But Mobile Wallets Are Catching up Fast

U.S. consumers have made the credit card their favorite online and face-to-face spending method, with 31.5% using it online and 40% choosing it for in-store transactions last year, according to the Worldpay Global Payments Report 2018. Released late last week, the report also found that debit cards and digital wallets, …

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Citi Payment Insights Expands and other Digital Transactions News briefs from 11/19/18

Mene Inc., an online jewelry merchant, agreed to use a real-time consumer-credit program from Affirm Inc., a payments and lending platform. Citigroup Inc.’s treasury and trade solutions unit said it extended its Citi Payment Insights service to 20 new markets, bringing to 70 the number of global markets where the …

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Many Retailers Already Have or Plan to Erase Signature Requirements Soon, the NRF Reports

More than 40% of retail executives surveyed for the National Retail Federation’s latest payments study say they have already dropped signature requirements for payment card transactions or plan to do so before this year is out. Another 13% plan to end signature requirements in 2019. The actions come in the …

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Security Concerns Still Hold Back Mobile Payments, PSCU Survey Finds

Consumers still have fears about the safety of mobile payments, according to new findings from credit-union service organization PSCU. PSCU’s Eye on Payments survey released Thursday comes at least a decade after payments companies and researchers first determined that security concerns were holding back adoption of online and at the …

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