Digital Transactions Authoritative, insightful and timely information for payments professionals
Visa Inc. said Wednesday it has struck a definitive agreement to acquire Brazilian financial and payments processor Pismo Soluções Tecnologicas Ltda. for $1 billion in cash. The deal strengthens Visa’s presence in fast-growing Latin America and gives it access to technological services that can be taken abroad. Founded only in …
June, 2023
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29 June
On the Eve of FedNow, TCH’s RTP Readies for a Real-Time Payments Boom
As the payments industry waits a few more weeks for the expected July launch of the Federal Reserve’s FedNow real-time payments platform, the backer of a real-time payments service that is entering its sixth year readies for more business. Operated by The Clearing House Payments Co. LLC, the Real Time …
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29 June
Mastercard’s Subscription Plans And Other Digital Transactions News briefs from 6/29/23
Mastercard Inc., working with Subaio, which offers a subscription management service for banks, launched a subscription control service to make it easier for consumers to identify and unsubscribe from recurring payments via banks’ apps and online access. The move comes after the Federal Trade Commission proposed a rule that would require sellers …
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28 June
Square Unveils Its AmEx Card for Merchants as Part of Its Banking Expansion
Fulfilling a promise it made seven months ago, Block Inc.’s Square merchant-acquiring unit on Wednesday announced it will offer an American Express-branded credit card to its sellers that gives rewards in the form of lower processing costs. Square also announced several enhancements to its financial services to get more of …
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28 June
Tap to Pay Arrives for Venmo And PayPal Zettle
PayPal Holdings Inc. is adding tap to pay on mobile phones to its U.S. Venmo users with business profiles. The Tap to Pay on Android technology enables merchants that accept Venmo payments to do so using conventional Android smart phones without having to attach a special payment dongle. The service …
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28 June
DoorDash Adds EBT Payments And Other Digital Transactions News briefs from 6/28/23
DoorDash announced a number of new features for its food-delivery app, including the ability to create multiple carts simultaneously and the addition of online payments funded by SNAP/EBT benefits. Alphabet Inc.’s mobile-payments app, Google Wallet, will reportedly begin supporting QR codes to trigger payments, starting in Brazil. The wallet has up to …
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27 June
The CFPB Fines ACI Worldwide $25 Million for Its $2.3 Billion Mortgage-Payments Flub
The Consumer Financial Protection Bureau said Tuesday it has fined payments provider ACI Worldwide Inc. $25 million for erroneously debiting from nearly 500,000 homeowners a total of $2.3 billion in mortgage payments through the automated clearing house network in 2021. The agency’s order also said ACI must “stop its unlawful …
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27 June
Processors Are Starting to Adopt AI, But Consumers May Not Be Entirely Onboard
The explosive potential that lies in recent advances in artificial intelligence is beginning to be felt in the payments business as banks and fintechs search for ways to wring intelligible trends and operational improvements out of enormous masses of data. The nascent trend toward AI in payments was underscored by …
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27 June
Travel Chargebacks up 71% And Other Digital Transactions News briefs from 6/27/23
Travel companies experienced a 71% growth in chargebacks in the past few years, according to the “Tackling the Travel Chargeback Challenge” report from Outpayce from Amadeus, a global travel company. The survey canvassed 46 airline and travel agent executives in the second quarter. The Accredited Standards Committee X9 Inc. started an industry forum …
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26 June
NCR Moves Forward With Its Planned ATM Spin-Off
Leading ATM manufacturer NCR Corp. took a big step Monday toward its goal of splitting into two independent companies with the filing of a registration statement for the spin-off of its ATM business. After a strategic review that included the possible sale of the entire company, Atlanta-based NCR announced the …