In testing now, the Abrigo Fraud Detection platform is incorporating artificial intelligence into check inspection and image analysis to help banks manage check fraud. Though checks written fell from 15.5 billion in 2018 to 12 billion in 2021, according to the 2022 Federal Reserve Payments Study, they remain a significant …
Read More »
Apple Inc. reported record quarterly revenue of $23.1 billion in its Services unit, up 11% year-over-year, including an all-time high for payments revenue, which Apple did not break out in its December quarter results. This subcategory includes revenue from processing for stores, Apple Pay, and iOS apps. Cannabis wholesale platform Nabis …
Read More »
Small businesses tend to be less satisfied with their credit and debit card processing than they are with processing for alternative payments, according to a study by J.D. Power. Based on a 1,000-point scale, with 1,000 being the highest score, merchant-satisfaction scores for credit card processing averaged 692, while scores …
Read More »
Point-of-sale specialist CardFlight Inc. extended the ability to create invoices to its SwipeSimple app, a feature that was previously only available via the Web version. Meanwhile, Fiserv Inc. says the Prudential Center, where the National Hockey League New Jersey Devils play, will adopt Clover Sport point-of-sale hardware and software. New …
Read More »
Payments provider Nuvei Corp. announced an integration with Block Inc.’s Cash App, allowing Nuvei merchants to more easily adopt Cash App Pay for online checkouts. Worldpay LLC announced it is now operating as an independent company following the close of an $18.5-billion transaction that saw private-equity firm GTCR acquire 55% of its equity, …
Read More »
Mastercard Inc. is confronting a slowdown in dollar volume in its home market while it pushes into vital new markets like real-time payments and open banking, its presentation of fourth-quarter 2023 financial results indicated early Wednesday. Gross dollar volume of $727 billion in the December quarter represented a 4% rise …
Read More »
Payment technology provider Electronic Merchant Systems acquired PaymentCloud, an Encino, Calif.-based payment gateway provider. The acquisition will enable PaymentCloud to expand its merchant base while utilizing EMS’s technology services. The deal also solidifies the existing relationship between the two companies and positions Cleveland-based EMS to leverage PaymentCloud’s marketing and sales …
Read More »
KioSoft Technologies has agreed to license technology from PayRange Inc. in a deal that could exceed $62 million in value over a 10-year period. The agreement stems from a settlement of a four-year dispute in which PayRange, a provider of payments technology for the laundry and vending industries, alleged KioSoft infringed its …
Read More »
Amazon.com Inc. is offering buy now, pay later loans in Mexico through a partnership with Kueski Pay, a BNPL program in Mexico. Shoppers on Amazon Mexico can use Kueski Pay to pay for their purchases in four or 12 bi-weekly installments through a linked bank account or debit card, or …
Read More »
Most U.S. consumers—53%—concerned about a possible fraudulent transaction on their credit card statements make the first inquiry with the issuing bank, not with the merchant. That’s according to the newly released 2024 Cardholder Dispute Index released by Chargebacks911, a Clearwater, Fla.-based dispute-management company. Conducted in partnership with TSG, an Omaha, …
Read More »
Digital Transactions Authoritative, insightful and timely information for payments professionals
