Saturday , August 13, 2022

BofA Card Volume up and other Digital Transactions News briefs from 6/7/22

  • Total credit and debit card dollar volume for Bank of America Corp. increased 9% in May year-over-year, with credit card volume up 16% and debit volume up 9%, the Bank of America Institute reported.
  • A research report from Aite-Novarica finds what the report calls “excessively high rates” of identity theft, which the report says has shifted back to consumer financial services from a previous focus on government stimulus payments. Some 25% of U.S. consumers 55 or older were affected by identity theft in 2021, up dramatically from 12% in 2020. The report was commissioned by anti-fraud technology company Giact.
  • Payoneer, a commerce technology company, said it and Fiserv Inc. are in a deal to enable businesses to access Payoneer’s payouts platform via Fiserv’s Carat operating system. Payoneer said this deal will enable payout delivery across the globe.
  • Blackhawk Networks, a prepaid payments platform, said it and LibertyX, a Bitcoin ATM, cashiers, and kiosk operator that is a unit of NCR Corp., launched a service to enable consumers to purchase Bitcoin using their LibertyX accounts at participating U.S. merchants.
  • U.S.-based blockchain firm Ripple said it will support cryptocurrency acceptance in-store and online for Berlin-based luxury retailer Lunu.
  • Private-equity firm One Equity Partners has agreed to acquire the corporate online banking solutions unit of ACI Worldwide Inc. for $100 million in cash. Once the deal settles, the unit will operate under the name Dragonfly Financial Technologies. Terms were not disclosed.
  • In related news, ACI launched ACI Smart Engage, a platform that allows merchants to use location, voice, and image-recognition technology to show inventory on consumers’ smart phones.
  • The card-issuing fintech Marqeta said it will integrate its services with The Western Union Co.’s real-time digital-wallet and digital-banking platform in Europe, enabling Western Union remittances to be processed online, with funds credited to a Visa card.
  • Trust Payments will work with Feedzai to offer cloud-based risk-management services to Trust Payments customers.
  • Payanywhere, a North American Bancard payments platform, is sponsoring the June $4,000 Growth Grant awarded by the National Association of the Self-Employed, the trade group announced.

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