Friday , March 29, 2024

Transaction Processing

Payments Gripes Soar During the Pandemic, According to CFPB Data

Consumer complaints about payment products and services have shot up since March, when the national emergency was declared to deal with the Covid-19 pandemic. Complaints about credit and prepaid card products are up 29% over the same period last year, and gripes about money-transfer, virtual-currency, and money services have soared …

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Mastercard Agrees to Nets Concessions and other Digital Transactions News briefs from 7/28/20

Mastercard Inc. is offering some concessions in its bid to win approval from European Union competition authorities for its planned $3.2 billion acquisition of major parts of Denmark-based payment processor Nets Group, Reuters reported.California’s Department of Motor Vehicles selected payments provider Forte Payment Systems to oversee the DMV’s e-check verification process.Digital-banking technology provider Tyfone Inc. has …

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Garmin Says Outage Doesn’t Affect Payment Data

The ability of hackers to disrupt connected devices was on display over the weekend with Garmin Ltd., a major purveyor of fitness trackers, smart watches and related tech gear, including products that can make contactless payments, reporting service interruptions that some observers say have been caused by a ransomware attack. …

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Paysafe To Buy Openbucks and other Digital Transactions News briefs from 7/27/20

Payment processor Paysafe said it has a deal to acquire the gateway Openbucks for an undisclosed price.The Missouri Department of Social Services said it now allows child-support payments via Apple Pay, Google Pay, and PayPal.Mogo Inc., a Canadian fintech, made publicly available MogoSpend, a so-called spending account that comes with a cobranded Visa Platinum prepaid …

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A Ripple Executive Sets up a Digital Wallet for One-Click Checkout With XRP

The big card networks have been introducing a one-click e-commerce checkout and plan to take it overseas by next year, but now a Ripple Labs Inc. executive may beat them to the punch with a single-click capability for Ripple’s XRP cryptocurrency. In what he characterizes as a “personal project,” Ripple director …

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‘Mid-April Was the Trough,’ AmEx Says As It Works to Recover From the Pandemic’s Impact

American Express Co. felt the full brunt of the global Covid-19 pandemic in the opening weeks of the second quarter, and on Friday it released numbers showing just how hard the swoon in travel and other key sectors hit the company. Executives also took time on a conference call with …

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Repay Acquires cPayPlus and other Digital Transactions News briefs from 7/24/20

Payment processor Repay Holdings Corp. acquired cPayPlus LLC, a provider of accounts-payable automation technology. Repay paid $8 million at closing and could pay $8 million more in 2021’s third quarter depending on cPayPlus’ achievement of growth targets.After a limited release in May, a 3-year-old challenger bank called Dave announced it will issue debit cards …

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A Surge in Online Shopping Leads Citcon to Develop No-Code Plugins for E-Commerce Payments

Payments provider Citcon USA LLC said early Thursday it is unveiling plugins that will allow e-commerce platforms like Commerce Cloud, Magento, Salesforce, Shopify, WooCommerce, and others to offer merchants the ability to accept Alipay, WeChat Pay, and China UnionPay, as well as credit cards, without coding. The development represents a …

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Google Announces Test With No Commissions for Sellers Using Its Shopping Platform

Expanding on an initiative it began April that offered free listings for some merchants, search-engine leader Google on Thursday announced a test that charges zero-percent commissions to online sellers when they sell a product through its Shopping Actions service. In addition, sellers can use Shopify Inc.’s payment service as well …

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75% of Consumers Prefer Contactless Cards and other Digital Transactions News briefs from 7/23/20

Some 75% of U.S. cardholders prefer contactless cards to card swipe, mobile payment, inserting a chip card, and cash, according to a survey of 1,000 cardholders by card-technology specialist Entrust Datacard.Alliance Data Systems Corp., a provider of private-label card programs, reported a 27% year-over-year drop in revenue for the second quarter to …

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Digital Transactions