News

October, 2024

• 25 October

  Mastercard Goes Networkwide With Its Installments Program

  

  Mastercard Inc. announced early Friday it is expanding its Installments payments program to all eligible digital points of sale within its network in the United States. The expansion will enable merchants, financial service providers, payment processors, and digital-wallet providers to present installment offers to consumers through any eligible credit card …
• 25 October

  Elavon Debuts a Single Gateway Platform

  

  With merchants demanding simpler yet more encompassing payment gateway capabilities, acquirer Elavon launched its Elavon Payment Gateway, starting first with small and mid-size businesses. The new Elavon gateway, announced Thursday, takes a cloud-based, omnichannel approach, offering “features and functionality from existing gateways,” Pari Sawant, Elavon’s chief product officer, tells Digital …
• 25 October

  Bancorp’s Profit up 2.8% and other Digital Transactions News briefs from 10/25/24

  

  The Bancorp Inc., which provides payments and other financial services to fintechs, reported September quarter-net income of $51.5 million, up slightly from $50.1 million a year ago. Gross dollar volume on prepaid and credit cards grew 15% to $37.9 billion. Payment fees from prepaid and debit cards, automated clearing house …
• 24 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 …
• 24 October

  How the CFPB’s Data Privacy Rule for Open Banking Could Impact Merchants’ Swipe Fees

  

  While the Consumer Financial Protection Bureau is being sued over its data-privacy rule, merchants remain optimistic the regulation will help them reduce the impact of swipe fees by making account-to-account payments widely available at the point of sale. The key is open banking, which paves the way to developing payment …
• 24 October

  Hallmark Greeting Cards Line Now Has Digital Gift Cards Via InComm Payments

  

  As the Christmas holiday shopping season nears, Hallmark Cards Inc. is readying a new greeting card line that is available with digital gift cards. Kansas City, Mo.-based Hallmark says the launch of its Gift Card Greetings Web site enables consumers to purchase a physical greeting card that comes with a …
• 24 October

  BlueSnap’s Many Integrations and other Digital Transactions News briefs from 10/24/24

  

  Payments provider BlueSnap launched its Channel Partner Program, through which it has signed eight system-integration partnerships in the U.S., Canadian, and U.K. markets. Visa Inc. said it is working with governing entities around the world to help them create digital access to government services for their citizens. Mastercard Inc. announced it has extended its …
• 23 October

  Banks Take Aim at the CFPB’s Data Privacy Rule for Open Banking

  

  No sooner had the Consumer Financial Protection Bureau released its personal financial data rights rule Tuesday than the rule was legally challenged by the banking industry. The lawsuit, filed late Tuesday by the Bank Policy Institute and the Kentucky Bankers Association, alleges the CFPB has overstepped its bounds by issuing …
• 23 October

  Eye on Pay by Bank: Dwolla Readies Plaid Integration; Trustly Forecasts 33% Americas Growth

  

  Account-to-account payments provider Dwolla Inc. is readying itself for more pay-by-bank business with an expanded integration to open-banking platform Plaid Inc. Des Moines, Iowa-based Dwolla says the integration, which is scheduled to go live in early 2025, will make Plaid’s instant account-verification and risk-assessment services available in Dwolla’s pay by …
• 23 October

  Goldman $89 Million and other Digital Transactions News briefs from 10/23/24

  

  The Consumer Financial Protection Bureau has fined Goldman Sachs “at least” $19.8 million in redress and assessed the company a $45 million civil-money penalty, while at the same time ordering Apple Inc. to pay a $25-million civil money penalty. The agency has also banned Goldman from introducing a new credit card …