Monday , May 10, 2021

Card Brands Delay Interchange Updates and other Digital Transactions News briefs from 3/16/21

  • Responding to pressure from Sen. Dick Durbin, D-Ill., and other critics, Visa Inc. and Mastercard Inc. are delaying planned adjustments to their credit card interchange rates until April next year, Bloomberg News reported. The rate adjustments had been set for next month and involved an estimated net $889 million in increased fee income for Visa and Mastercard issuers.
  • Loyalty provider Factor4 LLC said its services are now integrated in two Telium Tetra smart point-of-sale terminal models from Ingenico.
  • Sixty-one percent of those surveyed in the daVinci Payments’ 2021 Dudes Go Shopping study said their in-person transactions are contactless. Most—70%—said they do the majority of their shopping online, up from 53% a year ago. They survey canvassed 1,026 U.S. adults.
  • Payments provider PatientPay Inc. announced an integration with Clinicient Inc., an outpatient rehabilitation therapy platform.
  • Openbay Inc., an e-commerce platform for automotive repair and maintenance services, launched a mobile app for iOS as well as a Web application for its marketplace. The new tools enable payments as well as price estimates and other services.
  • Brim Financial, a startup fintech and card issuer, announced the close of a $25-million Series B round co-led by Desjardins Group and Epic Ventures.
  • PayMyTuition said it has incorporated open banking, allowing educational institutions to verify students’ banking information and account balances in real time.
  • Browser provider Opera Ltd. said its Dify fintech unit has hired former PayPal executive Allen Hu as executive vice president. Dify recently launched a wallet app as well as an in-browser cashback service for online shopping.
  • Mastercard Inc. launched a virtual, multi-city educational road show, in conjunction with Create & Cultivate, a women’s online community and digital platform, to increase awareness of women and minority-owned businesses in four U.S. cities. The program also includes a grant contest.
  • Nuvei Corp. said it joined the American Gaming Association, a trade group representing the U.S. casino industry.
  • Payments-technology provider InComm Payments has opened an enlarged office in Columbus, Ga.

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Nuvei Volume Soars 132% and other Digital Transactions News briefs from 5/10/21

Payments provider Nuvei Corp. reported first-quarter volume of $20.6 billion, up 132% year-over-year, with e-commerce accounting for …

Digital Transactions