Nuvei Corp. said it will integrate Mastercard Send push payments into its payment technology platform. Send enables speedy funds disbursement for use cases like payroll, insurance claims, and refunds.Agilysys Inc., a provider of point-of-sale software for the hospitality industry, rolled out Agilysys Digital Marketing, which allows managers to send personalized messages …
Read More »COMMENTARY: With Digital Currency, Regulators Should Let Markets Pick Winners
Launched in 1989, Digicash introduced the first cryptocurrency. In the 1990s, it was considered leading-edge payments technology. But physical and digital currencies are payment networks. In payment systems, good technology is neither sufficient nor generally the biggest hurdle. No matter how good the technology, without critical mass they’re worth little. …
Read More »A DoJ Investigation of Visa Is the Latest Chapter in a Long History of Probes Into Network Policies
The news that the U.S. Department of Justice is probing debit card routing practices at Visa Inc. follows on a long history of such investigations and could portend a more serious attitude by regulators to address longstanding merchant complaints about network routing and pricing. “This is one more heavy step …
Read More »ACH Settles Four Times Daily Now and other Digital Transactions News briefs from 3/22/21
Nacha, The Clearing House Payments Co. LLC and the Federal Reserve, which collectively manage the automated clearing house network, said the addition of a third daily processing window for same-day ACH took effect on March 19. The ACH network now settles payments four times each business day.Mobile-wallet technology provider Citcon USA LLC said …
Read More »Blackhawk Network Launches eGiftcard Platform
With more merchants embracing omnichannel sales strategies that blend brick-and-mortar and e-commerce shopping, Blackhawk Network Inc. is enabling merchants to sell digital gift cards in-store. With Blackhawk’s eGift card platform, merchants can engage customers at multiple marketing touchpoints throughout the store, such as gift card racks and gift card displays …
Read More »Justice Department Investigating Visa Debit Acceptance and other Digital Transactions News briefs from 3/19/21
The U.S. Justice Department is investigating Visa Inc.’s practices regarding online and in-store debit card acceptance, according to reporting by The Wall Street Journal. The probe is centered on whether Visa has restricted merchants’ ability to flow transactions over less-costly networks, according to sources who spoke to the newspaper.Fintech Enova International said it acquired Pangea …
Read More »Splitit Signs More Merchants and other Digital Transactions News briefs from 3/18/21
Buy now, pay later provider Splitit Payments Ltd. announced new merchants Giant Bicycles, Super73, Mate Bike, Michael’s Jewelry and others now offer the installment payment service. Spliltit also reiterated that its service can be used with credit cards.Boutique marketplace Jane has integrated Klarna for buy now, pay later transactions.Fintech Rapyd said it is waiving up to …
Read More »Eye On BNPL: Afterpay, Flexiti, And Why Consumers Are Embracing Multiple Apps
Buy now, pay later continues to be a hot option as retailers look for ways to entice shoppers to buy more and increase online conversions and in-store traffic. Afterpay Ltd. announced Wednesday that its fifth bi-annual Afterpay Day promotion will include brick-and-mortar retailers for the first time. The event is scheduled …
Read More »As the ACH Network Readies for Covid Relief, Payments Groups Seek to Correct the Record on Funding Date
In response to erroneous reports about funds availability, The Clearing House Payments Co., Nacha, and seven other banking and payments groups said Tuesday that Economic Impact Payments from the federal government will start to become available to recipients Wednesday morning. A statement from the nine groups, plus a separate statement …
Read More »Card Brands Delay Interchange Updates and other Digital Transactions News briefs from 3/16/21
Responding to pressure from Sen. Dick Durbin, D-Ill., and other critics, Visa Inc. and Mastercard Inc. are delaying planned adjustments to their credit card interchange rates until April next year, Bloomberg News reported. The rate adjustments had been set for next month and involved an estimated net $889 million in increased fee income for …
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