News

January, 2024

• 24 January

  Mastercard Will Remain the Software Engine Behind the RTP Network

  

  Mastercard Inc. has extended its partnership in a multi-year agreement with The Clearing House Payments Co., which operates the Real Time Payments (RTP) network. The deal continues Mastercard’s role as the network’s instant-payments software provider. The agreement will drive more volume through the RTP network by maintaining the network’s reliability …
• 24 January

  Eye on BNPL: Klarna Debuts a Subscription Service; PublicSquare Enlists Credova

  

  Klarna AB, a buy now, pay later provider, is entering the subscription arena with the U.S. launch of Klarna Plus. For $7.99 a month, Klarna Plus enables eligible consumers to earn double rewards points on their purchases, pay no service fee when using Klarna at merchants outside of the Klarna …
• 24 January

   Affinipay Adopts AI And Other Digital Transactions News briefs from 1/24/24

  

  Affinipay, an e-commerce payments provider specializing in professional markets, launched a generative AI capability in its platform for law offices, including its LawPay service. Generative AI refers to predictive technology based on artificial intelligence. The cryptocurrency exchange KuCoin announced users of its KuCard debit card can spend their digital currency from their …
• 23 January

  Eye on E-Commerce: Nuvei Provides an API for Adobe Commerce; Citi Launches Citi Shop

  

  Nuvei Corp. has partnered with Adobe Inc. to provide an application programming interface to Adobe Commerce customers that enables easier access to its platform. The API provides these customers access to more than 680 regional alternative payment methods. In addition to supporting an array of alternative payment methods, Nuvei’s API …
• 23 January

  How an Ingenico Integration With Cybersource Promises a Global Point of Sale

  

  Ingenico, one of the world’s largest makers of point-of-sale transaction devices, said early Tuesday it has worked with Visa Inc. to integrate its Axium terminal software with a payment platform operated by Cybersource, Visa’s commerce and fraud-management unit. The move promises to offer, from a single platform, a service that …
• 23 January

  Debit a Favored Subscription Choice And Other Digital Transactions News briefs from 1/23/24

  

  Subscription management specialist Recurly Inc. released its 2024 State of Subscriptions report that found 45.5% of consumers chose debit as the subscription payment method, followed by credit cards, 33%, PayPal, 19.3%, and other alternative payment methods, 2.2%. Wise, a platform for international money transfers, said junk fees associated with credit cards and …
• 22 January

  Consumers Are Spending More On Gift Cards As P2P Apps Open As a Channel

  

  Prepaid card spending is on the rise, according to Fiserv Inc.’s annual Prepaid Consumer Insights Study. Some 69% of consumers surveyed say they purchased the same number of gift cards, or more, in 2023 compared to 2022. In addition, 40% of  buyers are putting at least $50 on gift cards, …
• 22 January

  COMMENTARY: Streamlining Payments with Straight-Through Processing

  

  In today’s fast-paced business landscape, efficiency and quality are essential for staying ahead of the competition. Straight-through processing (STP) is a solution that enables businesses to expedite financial transaction processing while reducing errors and eliminating repetitive tasks. In both accounts payable and accounts receivable, STP can transform the way payments …
• 22 January

  Bit.Store’s Crypto Card And Other Digital Transactions News briefs from 1/22/24

  

  Digital-currency platform Bit.Store launched its Visa Virtual Crypto Card, a prepaid card that can store Bitcoin and offers cashback rewards on transactions. The social-media platform X has reportedly established a “dedicated account” that could transact in cryptocurrency for the platform’s expected peer-to-peer payments service. There has been no official word so far from X, formerly …
• 19 January

  Digital Wallets Are Falling Short. Can Providers Fix That?

  

  While digital wallets have established a beachhead in the payment ecosystem, consumers still aren’t embracing the apps with gusto. The primary reasons are concerns over security and the lack of value-added features, such as rewards and loyalty programs and spend-management capabilities, says Justin Passalaqua, managing director of North America for …