Saturday , June 23, 2018

Electronic Payments Notes Milestone and other Digital Transactions News briefs from 6/14/18

  • A survey from The Fraud Practice LLC, commissioned by Kount Inc., found that Apple Pay acceptance among a group of almost 600 merchants decreased to 35% from 48% a year earlier. Google Pay acceptance dropped from 38% to 25%. Support for near-field communication, the wireless technology that enables Apple Pay and Google Pay connectivity at the point of sale, increased to 37% from 29%.
  • Payments provider Electronic Payments Inc. said its monthly aggregate payment volume exceeded $1billion for the first time.
  • Cross-border payments specialist Flywire Inc. and UnionPay are working together to offer discounted foreign-exchange rates to Chinese students and patients on cross-border tuition and health-care payments. The offer is good through the end of the year.
  • Garmin International Inc. launched a new smart watch, the vivoactive 3 Music, that features the GarminPay contactless-payments capability.
  • Visa Canada said financial-technology firm Finn AI will use application programming interfaces from the Visa Developer Platform to develop chatbots using artificial intelligence that will help banks enhance customer service; among other things the chatbots could enable customers to find ATMs, get foreign-exchange rates, and manage card settings.
  • Entersekt, a South Africa-based authentication-technology provider, opened its U.S. headquarters in Atlanta.
  • Processor Wind River Financial launched its Advanced Security Package of data-protection services in partnership with Trustwave, a provider of security technology and services.
  • Payments research firm Mercator Advisory Group Inc. released a report entitled, “Private Label Credit Cards: A Market, Not Just a Niche.”
  • Bluefin Payment Systems joined the American Transaction Processors Coalition, a trade group focused on the payments-processing industry in Georgia.
  • American Express Co. unveiled its Cash Magnet no-annual-fee credit card, which provides 1.5% cash back on purchases and various options for paying down balances.
  • Order-ahead technology provider Apptizer Inc. appointed O.B. Rawls IV to its advisory board. Rawls is the former president and chief executive of iPayment Inc. and currently is special advisor to the CEO of Paysafe North America, following Paysafe‘s acquisition of iPayment.

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