Thursday , March 28, 2024

Debit Cards

Square Drops Longstanding 2.75% POS Pricing for a Percentage-Plus-Fee Plan

Merchant processor Square Inc. on Nov. 1 will drop its longstanding 2.75% point-of-sale rate for a new pricing plan of 2.6% plus 10 cents. Based on recent U.S. purchase dollar- and transaction-volume statistics from the bank card networks, Digital Transactions News calculates the new pricing plan will generate about 1% …

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PayPal Fined in iZettle Deal and other Digital Transactions News briefs from 9/25/19

The United Kingdom’s Competition and Markets Authority fined PayPal Holdings Inc. £250,000 ($309,700) in connection with PayPal’s $2.2 billion acquisition of Sweden-based processor iZettle AB last year; the regulator said PayPal violated an order not to integrate its U.K. business with iZettle during an investigation by cross-selling services to U.K. consumers. PayPal said it …

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Eye on Data Security: High Risk for Insurers; Another Round of Attacks on Click2Gov

A new analysis says insurance companies are particularly vulnerable to e-commerce fraud, and a recent report says a second round of data breaches has occurred at cities that use the Click2Gov application for payment of utility bills, parking tickets, and related municipal payments. It’s practically an iron law that as …

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P97’s C-Store Payments Deal and other Digital Transactions News briefs from 9/24/19

P97 Networks, a mobile-payments and content provider for gas pumps, partnered with WannLynx, which supports in-store and at-the-pump video and other content for fueling stations, to enable payments as well as discounts, coupons, and other loyalty programs for convenience stores and gas stations.Brex, a startup that creates corporate card programs …

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A Panel Clears up Some Issues on Payments for CBD Merchants

The clamor to sign up merchants that want to sell hemp-derived cannabidiol products is undiminished despite multiple questions about what a legal CBD product is and how to onboard these merchants. “The banks are having a tough time now because it’s so new,” said Travis Chrisman, president and cofounder of …

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Real-Time Payments Catch on and other Digital Transactions News briefs from 9/19/19

A survey by processor Fidelity National Information Services Inc. (FIS) found that 54 countries now have active real-time payment programs, up from 40 in 2018 and nearly four times as many as 2014.Cross River Bank, which specializes in services for technology companies, has applied to link to The Clearing House Payments Co.’s Real Time …

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Without a Digital Business Model, Banks May Lose $280 Billion in Payments Revenue

Digital payments, combined with competition from nonbanks in payments, may cost banks as much as 15% of their global payments revenue, or $280 billion, says Accenture in its “2019 Global Payments Survey.” Released Monday, the survey of 240 retail and corporate payments executives across multiple countries suggests that global-payments revenue …

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Turnkey Risk Rebrands as Humaitrix and other Digital Transactions News briefs from 9/17/19

Turnkey Risk Solutions, a risk-management firm specializing in first-party fraud, rebranded as Humaitrix LLC. Payments veterans John J. Leehy III joined the company as chief executive and Gregory W. Sahrmann joined as the chief operating officer. Amy Walraven, a former JPMorgan Chase & Co. risk executive, is founder, president, and chief …

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Fintech Plaid Notes Investments and other Digital Transactions News briefs from 9/16/19

Financial-technology provider Plaid Inc. disclosed that it has received “strategic investments” from both Mastercard Inc. and Visa Inc.Digital payments and competition from nonbanks in payments may cost banks as much as 15% of their global payments revenue, or $280 billion, says Accenture in its “2019 Global Payments Survey.”Visa said it is working with insurance …

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Adyen Lands Another Retailer and other Digital Transactions News briefs from 9/13/19

Payments provider Adyen N.V. said fashion retailer BrandBank will use its payments network throughout markets in Australia, Singapore, and Hong Kong. BrandBank operates more than 500 stores.Digital River agreed to provide payments and tax and compliance services on the Salesforce AppExchange.PepsiCo has launched a cash-back rewards program called PepCoin, which lets consumers deposit cash rewards directly …

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Digital Transactions