Tuesday , October 4, 2022

Mobile Wallets

Legislative Pressure Mounts to Curb Fraud on Zelle

Pressure from the Senate Banking Committee on Early Warning Systems LLC, operator of the Zelle peer-to-peer payment network, is rising as committee members continue to press Early Warning for information about the extent of fraud on the network. A report released by Sen. Elizabeth Warren’s office late Monday charges that …

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The Fed Makes It Final: All Issuers Must Offer a Choice of Unrelated Networks for All Debit

The Federal Reserve said late Monday it has completed work on a clarification that reinforces a more than decade-old requirement that issuers enable a choice of at least two completing networks for online debit card transactions. The release follows months of research and investigation by the Fed and will go …

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Zuza Marketplace Debuts And Other Digital Transactions News briefs from 10/4/22

Point-of-sale software developer Zuza launched its Zuza Marketplace on its Super App platform. Merchants can peruse the marketplace to find tools and third-party apps that can aid their businesses, Zuza said.U.S.-based Uplift, which offers buy now, pay later capability for the travel industry, announced Royal Air Maroc, a Morocco-based airline, has adopted its …

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Boston Consulting Group: Payments Revenues Will Stay Resilient Despite Headwinds

Despite economic headwinds from supply-chain bottlenecks and geopolitical instability, the payments industry continues to show resilient revenue growth, says a new report from the Boston Consulting Group. Global payments revenues are projected to grow about 9.5% in 2022, according to the report. Beyond this year, revenues are projected to grow …

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Circle Looks to Its Deal for Elements to Ease Crypto Payments for Merchants

Blockchain players have been working for years to bring digital currencies to the point of sale, leading to Circle Internet Financial LLC’s announcement Thursday it has acquired a San Francisco-based payments-technology firm called Elements to make it easier for stores to take crypto, including Circle’s stablecoin, USD Coin (USDC). Terms …

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ATB Ventures Looks to Unlock the Value Potential in Digital Identity And Verification

In response to consumers’ growing concerns over the security and management of their personal data by businesses with which they interact, ATB Ventures on Thursday introduced its Oliu platform, a set of identity products aimed at helping businesses safely manage and verify the credentials of consumers they interact with digitally. …

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Fiserv Tweaks Carat Data Access And Other Digital Transactions News briefs from 9/29/22

Fiserv Inc. said its Carat operating system has added a capability for large enterprises to more readily access and analyze payments data.Mastercard Inc. said it is launching Strive USA, a small business imitative, in the United States for the first time. The goal is to support 5 million SMBs over the next five years.Also, …

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Elavon Launches a Platform for Contactless Payments in Mass Transit

The big payments processor Elavon Inc. has joined the movement to convert mass transit in the United States to contactless technology for fare transactions. The Atlanta-based company on Tuesday launched its Mass Transit Payments platform, aimed at both public and private agencies and with gateway and acquiring services provided by …

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Get Set for a Virtual Card Tsunami, Juniper Research Says

Virtual payment cards have been around for more than a decade, but now they appear to be poised for big growth with the rise of e-commerce and the wide availability of digital wallets. Indeed, the volume of transactions arising from these cards will balloon from 28 billion worldwide this year …

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PNC Jumps Into Restaurant POS Systems With Its Acquisition of Linga

Rivalry in the highly competitive restaurant POS systems market got even hotter Monday as PNC Financial Group Inc., announced its acquisition of Linga, a provider of point-of-sale systems for the restaurant and hospitality industry, for an undisclosed sum. The deal will enable PNC to better serve its clients in the …

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Digital Transactions