Digital Transactions Authoritative, insightful and timely information for payments professionals
Plaintiffs in the lawsuit seeking to overturn the Illinois Interchange Fee Prohibition Act filed a motion late Friday requesting the court deny a request from several merchant organizations to join the Illinois Attorney General as defendants in the suit. At the heart of the plaintiffs’ argument is that the Illinois …
October, 2024
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14 October
‘The Days of Easy Secular Growth Are Behind Us,’ Warns a New Report
Payments revenue, which grew at a healthy clip through last year, is going to see a drastically slower growth rate over the next five years, argues the Boston Consulting Group in a report issued early Monday. Worldwide payments revenues, which totaled $1.8 trillion last year, will increase at a compound …
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14 October
Mastercard’s Age Verification Tool and other Digital Transactions News briefs from 10/14/24
Mastercard Inc. said its Identity Attribute Verification service soon will enable issuers to confirm cardholders’ information such as age, date of birth, or address. The initial focus will be select markets in Europe with plans to expand into others in 2025. Expense-management software developer Findity announced its Real Time Card platform, which it …
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11 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 …
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11 October
Stripe Returns to Crypto Support; Alchemy Pay Adds Samsung Pay To Its Wallet Offerings
Six years after dropping its support for cryptocurrency, Stripe Inc. is once again enabling its merchants to accept the digital money. As of Oct. 9, Stripe merchants can now accept USD Coin, a stablecoin that settles transactions in U.S. dollars. In the first 24 hours after launch, consumers from more …
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11 October
Eye on Acquiring: Windsor Picks Manhattan POS Tech; Bluu Acquires JS Merchant Solution
Women’s apparel retailer Windsor Inc. will deploy the Manhattan Active Point of Sale technology from Manhattan Associates Inc. in its 350 locations. Also, merchant services firm Bluu Inc. will acquire JS Merchant Solution Inc., which does business as Smart Merchant Solution. Atlanta-based Manhattan Associates says the Windsor installation of its …
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11 October
Affirms Inks Deal with U-Pack and other Digital Transactions News briefs from 10/11/24
Buy now, pay later specialist Affirm Inc. has agreed to offer financing options to customers using ArcBest’s U-Pack moving company. Weave, a provider of payments and management software to medical practices, introduced Call Intelligence, technology based on artificial intelligence and aimed at analyzing data from patient calls. Payments processor HubSpot Inc. said it agreed …
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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 …
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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 …
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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 …