Digital Transactions Authoritative, insightful and timely information for payments professionals
New data from JPMorgan Chase & Co. signals the leading U.S. banking company is on track to retain its title as the nation’s largest merchant acquirer, with volume well in excess of $2.5 trillion flowing through its pipes. A note from a J.P. Morgan Payments spokesperson to Digital Transactions News …
January, 2025
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20 January
Debit Cards, Real-Time Payments Favored by Online Sports Bettors, Paysafe Finds; Nuvei’s New U.K. Gaming Platform
Debit cards remain the preferred payment for online sports bettors, with 42% of bettors saying they use debit cards to fund their accounts, according to Paysafe Ltd.’s annual All the Ways Players Pay report. It is the third consecutive year debit ranked as bettor’s preferred payment method. Digital wallets were …
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20 January
Sunmi’s New Android Devices and other Digital Transactions News briefs from 1/20/25
Point-of-sale terminal maker Sunmi launched several POS devices, including the Flex series, which uses the Android operating system. Bigg Digital Assets Inc., owner of Netcoins, Blockchain Intelligence Group, and TerraZero, said Netcoins Canada is launching eight crypto coins that begin trading Jan. 21.
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17 January
AmEx Settles With The DoJ Over Deceptive Marketing Practices; Shift4 Fined By The SEC
American Express Co. reached an approximately $230 million settlement with the Department of Justice late Wednesday over allegations the card company engaged in deceptive marketing practices. The DoJ claims that AmEx’s deceptive marketing practices for its credit card and wire transfer products violated the Financial Institutions Reform, Recovery and Enforcement …
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17 January
U.S. Bancorp’s Acquiring Results Disappoint, but ‘Tech-Led’ Segment Shines
U.S. Bancorp, owner of the big merchant processor Elavon, on Thursday reported merchant-acquiring volume of $142.6 billion in 2024’s fourth quarter, up 5% from $135.7 billion a year earlier. The company processed 2.11 billion merchant transactions in the quarter ending Dec. 31, a 5.5% increase from 2 billion a year …
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17 January
Chargebee Notes Click to Cancel Compliance and other Digital Transactions News briefs from 1/17/25
Recurring payments specialist Chargebee said its Retention product is in compliance with the Federal Trade Commission’s Negative Option rule, or click to cancel rule. That rule intends to make canceling a subscription as easy as the sign up process among other stipulations. Jupiter Payments said Get Honest Solutions, an independent sales organization that used …
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16 January
Block Agrees to Pay CFPB Fines Over Cash App’s Alleged Sloppy Fraud Prevention
Block Inc. reached an agreement with the Consumer Financial Protection Bureau early Thursday under which it will pay up to $175 million in restitution for what the CFPB claims were sloppy and misleading fraud-prevention practices used by Block’s Cash App. Under the terms of the agreement, Cash App has agreed …
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16 January
The Naughty List Grows: 13% Committed First-Party Fraud During the Holiday Shopping Season
Some consumers better hope Santa Claus doesn’t read the latest fraud report from Socure, a fraud-prevention and authentication provider. It found 13% of U.S. consumers committed first-party fraud during the 2024 holiday-shopping season. Often called friendly fraud, first-party fraud occurs when a consumer exploits return and refund policies for financial …
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16 January
Apple Card Talks Continue and other Digital Transactions News briefs from 1/16/25
Reuters is reporting that Apple Inc. is talking to Barclays to become the iPhone maker’s new partner for credit cards, replacing Goldman Sachs. Other financial institutions are said to be candidates as well, including Synchrony. Apple and Goldman launched the Apple card in 2019, but since then Goldman has indicated it will move …
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15 January
Gateway Funnel Pros Integrates With WooCommerce to Serve High Risk Merchants
Gateway Funnel Pros, an alternative payment gateway specialist for merchants selling high-risk, regulated, or restricted products, has launched a payment gateway and merchant-account services for WooCommerce merchants selling health and wellness products, such as supplements, that some gateway providers may consider to be high-risk products. The integration will enable WooCommerce …