Friday , October 11, 2024

News

October, 2024

  • 10 October

    The Top 2 Digital Fraud Schemes of 2024 That Every Business Should Know

    Online fraud schemes are on the rise across the globe. In fact, data breaches reached an all-time high last year, with an increase of 78% year-over-year between 2022 and 2023*, and that threat continues to escalate as fraudsters find new ways to beat digital security solutions. “There’s a lot of …

  • 10 October

    Digital Cards Gain Favor While Physical Ones Still Dominate

    With the holiday shopping season drawing closer, consumers are readying their gift card purchasing plans. Twenty-eight percent of consumers plan to purchase digital gift cards for recipients this holiday season, compared with 25% in 2023, according to a Bank of America Corp. and TSG survey of 1,007 consumers. But that …

  • 10 October

    Facing Deadlines And Volume Demands, Mid-Size And Smaller Banks Are Adopting Real-Time Payments

    More than a year after the launch of real-time payments by the Federal Reserve, financial institutions of all sizes are adopting the service. Some mid-size and smaller institutions are also looking ahead to related issues, including the looming ISO20022 standard for financial messaging. The latest example emerged Thursday with an …

  • 10 October

    How Payment Technology Companies and Agents can use Loyalty Programs

    In today’s cutthroat business environment, it is imperative that we as payment technology professionals find ways to help small and mid-sized businesses keep pace with their larger competitors. One highly effective way to do so is by offering a robust customer loyalty program. According to Queue it, 65% of a …

  • 10 October

    Mastercard, Citi in Cross-Border Plan and other Digital Transactions News briefs from 10/10/24

    Mastercard Inc. and Citi announced they are working on a service to offer cross-border payments to Mastercard debit cards in 14 markets, including the United States. Cardholders in these markets will be able to receive payments from Citi clients in near-instant transaction times. Citi is using Mastercard Move, the card brand’s …

  • 9 October

    Optimizing payments and financial services to exceed consumer expectations and maximize revenue

    Steven Velasquez, Senior Vice President and Head of Partner Business Development – Elavon, Inc. As payments technology innovation continues to evolve exponentially, today’s consumers expect a seamless, connected, and personalized buying experience. Buyers don’t care about payments per se, but the overall shopping experience. ISOs and ISVs that understand this …

  • 9 October

    Questions Arise Over How to Comply With Illinois’s Interchange Law

    With the national spotlight now shining on the Illinois Interchange Fee Prohibition Act, questions are being raised regarding merchants’ ability to comply with the law. The biggest challenge facing merchants will be separating tax and tips on credit or debit card transactions submitted to their card processor so they can …

  • 9 October

    Square Finishes Its New Orders Platform While Square Partner PopMenu Looks to an AI Assist

    Block Inc.’s Square point-of-sale technology unit announced late Tuesday it completed development work on a new platform it says offers improvements in ordering and payments. According to the brief announcement, the new technology offerings will include capabilities such as pre-authorization of transactions and bar tabs “to sellers of all sizes …

  • 9 October

    BMO’s PaySmart Launches and other Digital Transactions News briefs from 10/9/24

    Canada-based BMO Financial Group launched PaySmart in the U.S. market. PaySmart is a credit card feature that lets users divide transactions of $100 or more into installments over three, six, or 12 months at a monthly fee. Travel payments network UATP has added buy now, pay later platform Floa as another installment payment option. …

  • 8 October

    The Durbin Amendment Enters the Battle Over the Illinois Interchange Law

    Illinois Senator Dick Durbin is refuting claims by plaintiffs in the Illinois interchange lawsuit that federal banking laws, such as the Durbin Amendment, supersede state laws. The latest back-and-forth is part of an unfolding lawsuit challenging the Illinois Interchange Fee Prohibition Act. In an amicus brief filed late Friday, Durbin …

Digital Transactions