News

October, 2023

• 11 October

  Data Compromises Hit a Record High in 2023, Despite a Third-Quarter Drop

  

  Data compromises in the U.S. market for the first three quarters of 2023 totaled 2,116, a record high for the first nine months of a calendar year, according to the Identity Theft Resource Center. The previous high was set in 2021, when 1,862 compromises were recorded over the first nine …
• 11 October

  Eye on Restaurants: Presto Voice Is Gaining Traction; Lunchbox Taps Finix for Online Payments

  

  Presto Automation Inc. says its voice-ordering system for restaurants represents a $17-million annual revenue opportunity as the company finishes its first full year as a public company. San Carlos, Calif.-based Presto finished the fiscal year ended June 30 with revenue of $26.1 million, a 14.1% decrease from $30.4 million the …
• 11 October

  Klarna’s AI Shopping Aid And Other Digital Transactions News briefs from 10/11/23

  

  Payments platform Klarna AB announced a series of new services, including Shopping lens, which enables shoppers to take a picture of an item in their surroundings to find out where to buy it on the best terms. The service uses artificial intelligence to render the item in a search term. Technology consultancy Thoughtworks said …
• 10 October

  Orum Launches an Instant Account Verification Solution for FedNow

  

  Orum, a provider of technology for payment processing and account verification, announced Tuesday the launch of Verify, an account-verification solution for FedNow, the Federal Reserve’s instant-payment service, which launched in July. With Verify, businesses initiating a payment through FedNow can validate, within 15 seconds prior to sending funds, whether a …
• 10 October

  GoDaddy Says It Will Integrate Early Warning’s New Paze Online Checkout, Now Coming in 2024

  

  Paze, an online wallet still in development, will be available to merchants using GoDaddy Inc.’s Web services. Paze is available for testing to select U.S. businesses on the GoDaddy platform. In March, at the announcement of Paze, Early Warning Services LLC, its developer, said full availability would arrive this autumn, …
• 10 October

  Worldpay’s Transit Move And Other Digital Transactions News briefs from 10/10/23

  

  The processor Worldpay said it will work with Masabi, a provider of technology for transit-fare payments, to offer an EMV platform for what the pair call “transit agencies of all sizes.” Health-care payments specialist RevSpring unveiled new features of its Engage IQ platform that includes updated messaging, the ability to use graphics in email …
• 9 October

  Slake’s Delivery App Supports Crypto Payments; Visa’s Billions in Crypto Volume Since 2021

  

  Slake IT LLC on Monday launched a food-delivery app that enables consumers to pay for orders using cryptocurrency in addition to credit cards. The company, which is supporting the Ethereum platform to enable crypto payments, has partnered with drivers of multiple food-delivery companies, including DoorDash, Uber Eats, and Grubhub, to …
• 9 October

  COMMENTARY: Why the Credit Card Competition Act Falls Short

  

  The Credit Card Competition Act (CCCA) looks to be headed for a vote before the end of the year, spurred in part by Sen. Dick Durbin’s recent urging that it be brought to the Senate floor. While the Illinois Senator is of the mind it will help increase industrywide competition …
• 9 October

  Rainforest Raises $11.75 Million And Other Digital Transactions News briefs from 10/9/23

  

  Rainforest, an Atlanta-based platform for embedded payments, has closed on an $11.75-million seed funding round led by Accel. Beverly, Mass., has contracted with Passport for support of mobile payments for parking in the town. Passport claims more than 800 cities and other entities using the app. Instant Financial, a provider of earned-wage …
• 6 October

  Pricing Rules Are at the Heart of a New Class-Action Lawsuit Against PayPal

  

  A new lawsuit filed Thursday against PayPal Holdings Inc. alleges the online powerhouse uses illegally anticompetitive policies that increase costs for consumers. Filed by Hagens Berman, a law firm that specializes in class-action litigation, the suit contends that PayPal prohibits merchants that work with it to offer pricing discounts when …