News

January, 2023

• 27 January

  AmEx Posts a Double-Digit Rise in ’22 Volume But Faces Queries About Its Card Take

  

  American Express Co., whose travel-and-entertainment focus took a beating during the pandemic and is now rebounding, reported strong growth early Friday for its latest quarter, but left at least some equity analysts questioning whether the growth is strong enough. Analysts zeroed in on revenue growth and card-acquisition rates, in particular, …
• 27 January

  Visa’s Kelly Stresses Stability As He Prepares to Hand Off The Reins of Leadership

  

  Following years of pandemic restrictions that all card companies had to contend with, Visa Inc.’s top executives late Thursday highlighted stable transaction and processing volumes and growing cross-border travel as the United States and other global regions continued to recover. The event also featured an appearance by Visa president Ryan …
• 27 January

  POSaBIT Makes $4 Million Deal And Other Digital Transactions News briefs from 1/27/23

  

  POSaBIT Systems Corp., a point-of-sale system maker for the cannabis industry, said it will acquire MJ Platform, Leaf Data Systems, and Ample Organics from Akerna Corp. for $4 million in an all-cash transaction. The deal will almost double the number of locations serviced by POSaBIT and expands its operations in Canada. …
• 26 January

  Mobile Wallet Usage Is Up, But Many Consumers Still Prefer to Pay With Plastic

  

  Consumer adoption of mobile wallets may be growing, but a lot of consumers still prefer to pay using a physical card, a report from J.D. Power finds. The report, which surveyed 3,588 retail-bank customers nationwide between the first quarter of 2021 and third quarter of 2022, found that 49% of …
• 26 January

  Mastercard Celebrates Pay by Bank And Its ‘Multi-Rail Strategy’ As It Records Its ’22 Results

  

  Mastercard Inc. has made some big news in recent months, but you wouldn’t know all of it from the company’s conference call early Thursday to discuss its fourth-quarter 2022 and full-year results. Mastercard celebrated recently concluded major deals that make the global payments company the exclusive provider of debit branding …
• 26 January

  Netevia Banking To Debut And Other Digital Transactions News briefs from 1/26/23

  

  Payments and financial services provider Netevia said it will launch in February Netevia Banking, a banking service for small businesses that includes virtual cards, same-day access to funds, connectivity to Netevia’s underwriting team, and a two-hour approval window. Netevia Banking will be available to independent sales organizations for resale. GE HealthCare will …
• 25 January

  Data Breaches in 2022 Hit a Near Record High As Notices Increasingly Omit Information

  

  Data breaches remained at near record levels in 2022, according to the Identity Theft Resource Center’s annual data breach report. The number of breaches totaled 1,802 last year, just 60 short of the all-time high recorded in 2021, making the total number of breaches in 2022 the second-highest on record. …
• 25 January

  Eye on Money Transfer: MoneyGram Harnesses a Messaging App; Grupo Coppel’s U.S. App

  

  Money-transfer firms are looking for new ways to leverage their extensive international networks, with the latest development emerging early Wednesday as MoneyGram international Inc. announced it is opening its system to BOTIM, a voice-over-Internet protocol (VOIP) provider with 90 million users in the Middle East and Africa. The deal, which …
• 25 January

  Nuvei Lands L.A. Processor And Other Digital Transactions News briefs from 1/25/23

  

  The Colombia-based payments processor Redeban has adopted payments-technology provider Nuvei Corp.’s Nuvei for Payments embedded-payments platform. Nuvei earlier this month agreed to acquire payments provider Paya Holdings Inc. in a deal valued at $1.3 billion. Wafi Inc. launched Wafi.cash, a payment processing platform for e-commerce transactions that purports to eliminate redundant entities in the payment …
• 24 January

  To Be Competitive, Banks May Need a Mobile Wallet That Leverages Their Retail Banking Prowess

  

  If banks are to compete against the likes of Apple Pay and Google Wallet in the mobile-wallet arena, they are going to have to provide value-added features that leverage their retail-banking products, such as money management and loyalty accrual and redemption. “The killer question is how to disrupt something that …