Digital Transactions Authoritative, insightful and timely information for payments professionals
As the digital economy continues to grow, people are relying on virtual transactions more than ever. But with the expansion of digital money movement comes new opportunities for fraudsters to exploit merchants and their customers. In today’s economy, fraudulent activity can happen anywhere, to just about anyone. Digital cybercriminals are …
November, 2023
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28 November
Online Sales And BNPL Transactions Hit Record Highs on Cyber Monday
Online shoppers spent a record $12.4 billion on Cyber Monday, a 9.6% increase from the previous year, according to Adobe Digital Insights. The peak spending period came between 10 p.m. and 11 p.m. Eastern Time, when consumers spent $15.7 million every minute during that hour. Buy now, pay later was …
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28 November
Ackroo’s Deal for GiftFly.com Comes As Sales of E-Gift Cards Are Set to Take off
Digital gift cards are a hot product, and that’s attracting the interest of payments players looking to make acquisitions to enter or bulk up their assets in this market. In the latest deal, the Hamilton, Ontario-based point-of-sale payments platform Ackroo Inc. early Tuesday announced it has agreed to acquire the …
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28 November
Square Holiday Shopping up 14% And Other Digital Transactions News briefs from 11/28/23
Square and Afterpay merchants counted 70 million transactions over the Black Friday-Cyber Monday holiday weekend, up 14% from the same period in 2022, Square said. In-person shopping increased 15% year-over-year. Amendments under consideration by Australia’s national government would impose on digital wallets like Apple Pay and Google Pay the same regulations as those enacted …
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27 November
Securing Merchants in an Inflated Economy
Strategies to Boost Sales and Safeguard Your ISO Business By Matt Nern, Managing Partner, SignaPay Investors received unsettling news recently as U.S. consumer prices for September surpassed expectations, hinting at persistent inflation and sparking debates on another potential interest rate hike by the Federal Reserve in November. The evolving pricing …
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27 November
Why Cyber Monday Sales Are Expected to Reach an All-Time High
Holiday shoppers are projected to spend a record $12 billion to 12.4 billion online on Cyber Monday 2023, according to Adobe Analytics. Cyber Monday caps off the first weekend of the traditional holiday shopping season that begins Thanksgiving Day. Overall, Adobe projects online sales for the five days between Thanksgiving …
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27 November
3-D Secure Use Drives Down CNP Fraud Rates, Report Finds
Merchants and financial institutions that use 3-D Secure to help vet online transactions in markets that require its use see fraud rates that are three to six times lower than for all card-not-present transactions. That’s one finding from a Outseer-sponsored report completed by the research and consulting firm Datos Insights. …
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27 November
Bluefin in ID Tech Deal And Other Digital Transactions News briefs from 11/27/23
Payments provider Bluefin announced it is working with ID Tech, a payments-technology firm, to provide Bluefin clients with Advanced Encryption Standard (AES) technology validated by Payment Card Industry data-security rules. Mobile apps have accounted for 11% of e-commerce holiday-season sales volume so far, up from 9.6% last year, according to data from Signifyd, …
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22 November
A New York Times Op-Ed Video Favoring the CCCA Sparks a New Tussle Over the Bill
The Electronic Payments Coalition issued a press release late Tuesday taking issue with a New York Times op-ed video that argues merchants and consumers already pay a high price for rewards cards and expresses support for the Credit Card Competition Act. In its rebuttal responding to the video, Richard Hunt, …
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22 November
Payment Apps Are Making Steady Strides With Consumers, an ETA/TSG Study Shows
Roughly a decade after Apple Pay and other digital wallets burst into the U.S. payments market, the apps seem to be well on their way toward mass adoption, according to consumer-survey results released early Wednesday by the Electronic Transactions Association and the consulting and research firm TSG. In line with …