Digital Transactions Authoritative, insightful and timely information for payments professionals
By Tom Byrnes, SVP, Marketing, PayiQ It’s no great secret that much of the current payment processing infrastructure in place could use updating. Much of the technology that traditional processors were built on is clunky and inefficient. The result: Every business that integrates (ISV) or resells (ISO) the payment services …
March, 2023
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24 March
Klarna Adds ChatGPT as an Enhancement to Online Shopping
ChatGPT, the artificial intelligence-based chatbot developed by OpenAI, is being rolled out by Klarna AB to provide what the payments platform calls personalized and intuitive shopping experiences. Online shoppers will be able to ask Klarna, through the chatbot, for product recommendations, as well as receive links to shop recommended products …
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24 March
Conflicting Appeals Court Decisions Add Nuance to a CFPB Supreme Court Case
With a federal appeals court ruling on Thursday upholding the Consumer Financial Protection Bureau’s constitutionality, the CFPB, along with its severest critics, find themselves at a crossroads at a time when the agency has become significantly more energetic in overseeing the payments industry. The latest ruling, from the Federal Court …
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24 March
PayPal’s Passkey Makes Android Debut And Other Digital Transactions News briefs from 3/24/23
Buy now, pay later provider Affirm Inc. announced its users can deploy the service at VersaClimber, a vendor of exercise machines. Cybersecurity firm McAfee Corp. will offer savings on online protection via a new agreement with Mastercard Inc.’s Easy Savings program, a service through which business cardholders receive rebates on common business expenses. Strike, …
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23 March
A2A Payments A Growing Force In Payments
Account-to-account payments is becoming a growing force in the payments landscape, totaling $525 billion in global e-commerce transaction value in 2022, up from $463 billion in 2021, a 13% increase, according to the FIS Global Payments Report 2023. The volume was funneled through about 70 real-time payment schemes providing high-speed …
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23 March
COMMENTARY: Gun Sales Can Be Tracked, But MCC Codes Are the Wrong Tool for the Job
Plenty of attention has been given recently to the tracking of gun sales, with no lack of argument for and against. This article lies outside of any market motives or political opinions. It speaks only to the underlying mechanism of tracking purchases. As an engineer and a pragmatist, I can …
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23 March
The FTC’s ‘Click to Cancel’ Button And Other Digital Transactions News briefs from 3/23/23
A global survey on cross-border payments found 29% of mid-size and large U.S. businesses cite high transaction cost as a challenge, with 28% naming foreign exchange and regulations as the top challenge and 24% naming risk management. The results stem from the “2023 State of B2B Cross Border Payments” report …
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22 March
Unlocking ISV potential through embedded finance
by Joshua Bennett, Vice President of Partner Business Development for Elavon Inc. As payments technology and business models continue to advance and change at a rapid pace, Independent Software Vendors (ISVs) have new opportunities to monetize their services and provide valuable tools for their customers. The concept of Embedded Finance, …
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22 March
Panera Bread Rolls Out the Amazon One Biometric Tech in Select Locations
Panera Bread on Wednesday announced it is adopting Amazon One, Amazon.com Inc.’s biometric-payment technology, at select locations in the St. Louis area. The deployment of Amazon One, which links a customer’s payment card to his or her palm print, is expected to make it easier for Panera customers to access …
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22 March
Familiar Names Grace the Upper Reaches of the Latest Strawhecker Merchant Acquirer Directory
No surprise, the top merchant acquirer by payment volume remains JPMorgan Chase & Co., according to the 2023 edition of Directory of U.S. Merchant Acquirers from TSG, formerly known as The Strawhecker Group. With volume of $2.15 trillion, Chase retained the top spot last year that it has held since …
