News

November, 2023

• 22 November

  Payment Apps Are Making Steady Strides With Consumers, an ETA/TSG Study Shows

  

  Roughly a decade after Apple Pay and other digital wallets burst into the U.S. payments market, the apps seem to be well on their way toward mass adoption, according to consumer-survey results released early Wednesday by the Electronic Transactions Association and the consulting and research firm TSG. In line with …
• 22 November

  Marqeta in BNPL Deal And Other Digital Transactions News briefs from 11/22/23

  

  The U.S.-based card-issuing platform Marqeta Inc. announced it is working with Credi2, a Europe-focused provider of embedded-finance technology, to offer a buy now, pay later service tailored for bank cards. Topper, a fiat-to-crypto utility that is part of the Uphold financial platform, has added Apple Pay and Google Pay as payment options …
• 21 November

  As Online Phishing Attacks Mushroom, E-Commerce Merchants Are Favored Lures

  

  More than 30 million phishing attacks were launched against online stores, payment systems, and banks during the first 10 months of 2023, according to the latest report from Kaspersky Labs, a Moscow-based cybersecurity and antivirus provider operated by a holding company in the United Kingdom. E-commerce platforms bore the brunt …
• 21 November

  A Lawsuit Charges Apple Restricts Competition in Peer-to-Peer Payments

  

  A new federal lawsuit against Apple Inc. alleges the iPhone maker restricts competition in peer-to-peer payments by hampering rivalry with its own Apple Cash app. The restrictions, the suit charges, include provisions against what the suit calls “feature competition,” such as cryptocurrency payments, that could moderate pricing for peer-to-peer payment …
• 21 November

  AppBrilliance Lands Truist Outlay And Other Digital Transactions News briefs from 11/21/23

  

  Real-time account-to-account payments provider AppBrilliance announced it closed an investment from Truist Ventures, the venture-capital arm of Truist Financial. Terms were not announced. AppBrilliance works with The Clearing House’s Real Time Payments network as well as FedNow, the real-time network from the Federal Reserve. Pay Plantation LLC, whose payment gateway allows merchants to accept e-checks …
• 20 November

  Eye on Mastercard: Bankcard Clearing in China; a Partnership With Feedzai to Attack Crypto Risk

  

  The People’s Bank of China and the National Administration of Financial Regulation, China’s financial regulatory body, on Monday greenlighted Mastercard Inc.’s joint venture, Mastercard NUCC Information Technology (Beijing) Co. Ltd, to commence domestic bankcard clearing in China. The approval process took about three years. In February 2020, China’s central bank …
• 20 November

  Expect a 13% Growth in Black Friday-Cyber Monday Spending, Deloitte Forecasts

  

  With Black Friday and Cyber Monday days away, one prediction calls for consumers to spend an average of $567 in the Thursday through Monday period. Released by consulting and advisory firm Deloitte, the forecast says that average spend will be 13% higher than in the same period in 2022. Perhaps …
• 20 November

  Paysafe Adopts Visa Tokens And Other Digital Transactions News briefs from 11/20/23

  

  Payments provider Paysafe Ltd. announced it will integrate network tokens from Visa to mask credit and debit card account numbers. The Federal Reserve Board announced an average 1.8% increase in pricing for established services such as check clearing and automated clearing house transactions, with pricing for the FedNow real-time network, which launched in July, …
• 17 November

  Stripe Partners With Fraud Fighter Vesta And Brings Tap-to-Pay on iPhone to Alaska Airlines

  

  Vesta, a fraud-prevention provider for e-commerce merchants, said it will integrate Stripe Inc.’s Radar risk scores and Stripe Connect, which enables businesses to facilitate purchases and payments between third-party buyers and sellers, into its Payment Guarantee platform. The Stripe Radar integration will help Vesta’s client merchants increase transactional approval rates …
• 17 November

  COMMENTARY: COTS Is a Myth–a Positive, Hopeful One, But a Myth Just the Same

  

  The use of customer off the shelf (COTS) technology suggests that a merchant can leverage personally procured Android or Apple devices to execute point-of-sale operations. Even in today’s rapidly evolving payment technology, it’s a bold assumption. Such an implementation poses significant security challenges beyond contravening numerous acquiring and payment card …