Digital Transactions Authoritative, insightful and timely information for payments professionals
MoneyGram International Inc. announced Tuesday it will launch in the first quarter next year a non-custodial digital wallet that will support stablecoins. The wallet’s support of stablecoins—digital currency tied to the value of a national fiat currency, such as the dollar— will enable consumers to move from fiat currency to …
September, 2023
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26 September
Eye on Block: Citcon Adds Cash App Pay and Afterpay; Square’s New Sales Features Target Holiday Shopping
Citcon USA LLC, an e-commerce wallet-technology provider, is adding Block Inc.’s Cash App Pay and Afterpay buy now, pay later payment methods to its inventory of merchant options. In related news, Block’s Square point-of-sale unit is bolstering merchant selling tools with new online features. Citcon’s integration of Cash App Pay, …
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25 September
Shift4 Deepens Its Ties to Charitable Organizations And Widens Payment Options for Donors
The major processor Shift4 Payments Inc. is expanding its presence in the non-profit sector through a partnership with Give Lively, a fintech platform provider for that market. Shift4 said it will begin processing payments for Give Lively in 2024. In addition, Shift4 will expand payment options on Give Lively’s platform …
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25 September
Mercedes pay+ Adds Mastercard to Its In-Car Payment Service
Automaker Mercedes-Benz is enabling in-car fuel payments for users of its Mercedes pay+ service. Announced Monday, the service also integrates Mastercard Inc.’s Secure Card on File for Commerce Platform technology. Available initially only on select Mercedes models in Germany, the fuel payment app joins a parking-payment app the giant carmaker …
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25 September
Contactless Payments To Surge And Other Digital Transactions News briefs from 9/25/23
The number of digital transactions globally will rise 12% in 2024 to cross the 1-trillion mark, Juniper Research forecasts. Near-field communication (NFC) payments, otherwise known as tap-and-pay, will grow fastest, at 30%, followed by digital ticketing (19%), according to Juniper. The Canada-based commerce platform Shopify will enable payments for India-based e-commerce merchants directly on …
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22 September
Processor NAB Enters the SoftPOS Sweepstakes With Tap to Pay on iPhone
North American Bancard has joined a growing list of processors offering Tap to Pay on iPhone or its Android-based equivalent to merchants for contactless transactions. A big advantage of Tap to Pay on iPhone, especially for small and micro-merchants, is that it enables them to accept in-person contactless payments on …
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22 September
Commentary: Today’s Payments Are Broken. Here’s What to Do About It
Most bankers know that today’s payments are broken. From keeping pace with evolving customer experiences, to navigating the changing regulatory environment, to overcoming competitive threats from nonbanks, many have become so frustrated they are debating whether to abandon some in-house payments channels entirely. Consumers, too, are becoming frustrated with the …
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22 September
Varo to Anyone P2P Payments Debuts And Other Digital Transactions News briefs from 9/22/23
Varo Bank entered the peer-to-peer payments fray with Varo to Anyone, which allows Varo accountholders to send funds to anyone who holds a U.S. debit card. Varo says the service carries no fee. Mitek Systems Inc. announced it has agreed to offer its biometric-based identity verification technology to complement the credit-reporting agency Equifax Inc.’s …
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21 September
With Congress Back in Session, CCCA Proponents Put on a Full Court Press To Garner Support
Supporters and U.S. Senate sponsors of the Credit Card Competition Act stepped up pressure to pass the bill Wednesday with a Washington press conference featuring Senators Dick Durbin (D-Ill.), Roger Marshall (R-Kan.), and Peter Welch (D-Vt.). The legislators attacked merchants’ card-transaction costs as price gouging and said the levies make …
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21 September
How Failed Payments, Slow Payments, and Errors Bedevil Organizations
Consumers have come to expect an electronic payment to happen in seconds with zero or few errors, but for organizations the situation is a little more fraught. At least that’s the feedback from a new report, “The State of Payment Operations 2023,” from Modern Treasury Corp., a payments and financial …
