Friday , March 29, 2024

Debit Cards

Visa Revenue up 9% And Other Digital Transactions News briefs from 1/26/24

Visa Inc. reported $8.6 billion in net revenue for its December quarter, up 9% year-over-year, on $3.9 billion in credit and debit card volume, up 7.8%. Apple Inc. announced changes to iOS, Safari, and its App Store to meet European Union rules, including new options on its App Store to use payment …

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Eye on BNPL: Klarna Debuts a Subscription Service; PublicSquare Enlists Credova

Klarna AB, a buy now, pay later provider, is entering the subscription arena with the U.S. launch of Klarna Plus. For $7.99 a month, Klarna Plus enables eligible consumers to earn double rewards points on their purchases, pay no service fee when using Klarna at merchants outside of the Klarna …

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Debit a Favored Subscription Choice And Other Digital Transactions News briefs from 1/23/24

Subscription management specialist Recurly Inc. released its 2024 State of Subscriptions report that found 45.5% of consumers chose debit as the subscription payment method, followed by credit cards, 33%, PayPal, 19.3%, and other alternative payment methods, 2.2%. Wise, a platform for international money transfers, said junk fees associated with credit cards and …

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Consumers Are Spending More On Gift Cards As P2P Apps Open As a Channel

Prepaid card spending is on the rise, according to Fiserv Inc.’s annual Prepaid Consumer Insights Study. Some 69% of consumers surveyed say they purchased the same number of gift cards, or more, in 2023 compared to 2022. In addition, 40% of  buyers are putting at least $50 on gift cards, …

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COMMENTARY: Streamlining Payments with Straight-Through Processing

In today’s fast-paced business landscape, efficiency and quality are essential for staying ahead of the competition. Straight-through processing (STP) is a solution that enables businesses to expedite financial transaction processing while reducing errors and eliminating repetitive tasks. In both accounts payable and accounts receivable, STP can transform the way payments …

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Eye on Point-of-Sale: Sound Payments POS Updates Are Issued; a New PCI Council Director

Sound Payments issued a slate of updates for its point-of-sale system, including a way for retailers to categorize returns. Jacksonville, Fla.-based Sound Payments says the new return-categories feature enables merchants to catalog returns by size, reason for return, defective, and other custom variables. It also has a reporting component for …

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Lower Costs Plus More Control Could Be Part of Fiserv’s Ambition for a Bank Charter

Giant payment processor Fiserv Inc. wants to take on another aspect of the business with its application for a special bank charter in Georgia. The charter for a merchant-acquirer limited purpose bank, if approved, would enable Brookfield, Wis.-based Fiserv to interact with card networks directly instead of operating through a …

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Eye on NRF; BofA Zelle Users Grow 18% And Other Digital Transactions News briefs from 1/15/24

Banking giant Bank of America Corp. reported combined credit and debit card volume of $228.9 billion for the fourth quarter, up 3% year-over-year. The number of BofA users of the Zelle peer-to-peer payments network grew 18% to 21.5 million, while Zelle volume climbed 25% to $101 billion. Late in 2021, the …

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COMMENTARY: A Rigged International Payments Market Is Bad for the U.S.—And Bad for Free Trade

On Nov. 20, 2023, Mastercard Inc. announced that its Chinese joint venture with Netsunion to process domestic payments had been approved by the People’s Bank of China and the National Administration of Financial Regulation. Was it a victory for, or a mockery of, free trade? If this landmark approval were …

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GoCardless Picks Up JustGiving And Other Digital Transactions News briefs from 1-9-24

GoCardless said it will process open-banking payments made on JustGiving, an online donation platform, replacing American Express Co. FirstOntario Credit Union said it is preparing to launch open banking through connections to Everlink Payment Services Inc. and open-banking technology platform Flinks. The federal government in Canada said in November it planned to …

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Digital Transactions