News

August, 2023

• 8 August

  Circle’s Crypto Wallet Boost And Other Digital Transactions News briefs from 8/8/23

  

  Digital-currency platform Circle Internet Financial has collaborated with Euro Coin to announce Programmable Wallets, aimed at enabling developers to embed crypto wallets in their apps. Payments platform InComm Payments announced it has acquired Zenda, a technology provider for health and benefits administration and provider of platforms for health-savings and flexible-spending accounts. Terms were not …
• 7 August

  Why Card Skimming, Already Bad, Is Getting Worse

  

  Card skimming remains a vexing problem in the United States, with the number of reported incidents increasing 20% during the first half of 2023 compared to the same period in 2022, according to the credit-data firm FICO. More concerning, however, is that the number of cards compromised as a result …
• 7 August

  PayPal Steps Into Stablecoin Territory With Its PayPal USD

  

  Add a stablecoin to the roster of PayPal Holdings Inc.’s financial and payments products. Announced Monday, the PayPal USD will begin rolling out to PayPal accountholders today and in coming weeks. A stablecoin is a form of cryptocurrency pegged to a reserve asset viewed as stable, such as gold or …
• 7 August

  iWallet’s RDC in the Field And Other Digital Transactions News briefs from 8/7/23

  

  Fintech iWallet, whose technology lets repair personnel and other field-service providers process checks on a smart phone, said it is seeing growth among small businesses such as those in the plumbing, appliance-repair, electrical, and HVAC fields. Financial-technology provider Ascend will provide its billing-technology platform to process transactions for NFP, a property and casualty …
• 4 August

  Eye On iGaming: Nuvei Partners with 888; Paysafe’s Expansion Move; IPSI’s Joint Venture

  

  Canadian fintech Nuvei Corp. is partnering with iGaming operator 888 Holdings Inc. to provide card acquiring and payment in the United States. The deal expands both companies’ footprint in the U.S. market Montreal-based Nuvei will enable 888 to accept deposits into iGamers’ accounts. In addition, iGamers will be able to …
• 4 August

  Block’s Revenue Jumps 25% As It Continues Its Upmarket Push

  

  Block Inc., corporate parent of Square and Cash App, posted $5.5 billion in second-quarter revenue, a 25% jump from $4.4 billion in the same quarter a year ago, as the payments provider pushes on with its move to add larger merchants. The midmarket segment now accounts for 40% of its …
• 4 August

  Digital Dollar Project Completes Cross-Border Test And Other Digital Transactions News briefs from 8/4/23

  

  The Digital Dollar Project announced benefits such as reduced cost and risk from a recent pilot of a retail central bank digital currency for cross-border transactions. The DDP ran the project in the Philippines in partnership with The Western Union Co., supported by the consulting firm Accenture. Digital-currency platform Circle Internet Financial Inc. launched the …
• 3 August

  Shift4’s Isaacman Decries Rivals’ Fees As the Company Finally Closes in on Adding Finaro

  

  The top brass at fast-growing payments processor Shift4 Payments Inc. indicated early Thursday the company is banking on sophisticated platforms like its SkyTab point-of-sale system in the face of rivals’ efforts to hit hotels and restaurants with additional fees. The Allentown, Pa.-based company is also looking to expansion in Europe …
• 3 August

  Eye On E-Commerce: Online Shoppers Value Payment Security and Fraud Prevention; Instacart Adds New Features

  

  Payment security and fraud play a key role in cart abandonment for e-commerce merchants, according to a study by e-commerce solutions provider Radial Inc. The study found that 48% of respondents cited Web site security and 45% listed security of personally identifiable information as their primary reasons for shopping cart …
• 3 August

  PayPal Revenue at $7.3 Billion And Other Digital Transactions News briefs from 8/3/23

  

  PayPal Holdings Inc. reported $7.3 billion in June-quarter net revenue, up 7% year-over-year, as total payment volume grew 11% to $376.5 billion. Payment transactions were up 10%, to 6.1 billion. Total active accounts increased only slightly to 431 million from 429 million a year ago. Net income swung from a loss …