Digital Transactions Authoritative, insightful and timely information for payments professionals
The kinetic energy powering the open-banking wave continues to build. On Thursday, fintech Sila Inc. and MX Technologies Inc. announced tokenized integration for bank-account verification through MX’s MXapi Processor Tokens. The tokens will enable clients of Sila and their end users to digitally verify bank accounts and account data for …
November, 2022
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10 November
‘We Have to Execute Better,” Says CEO Lowthers As He Revamps Paysafe
Former FIS Inc. executive Bruce Lowthers took over as chief executive of Paysafe Ltd. in May, and since then he’s had to work to steady a stumbling processing giant. His early assessment of his new company wasn’t pretty. “Bluntly, we’ve lost our way here,” he told equity analysts in August. …
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10 November
Consumer Spending Moderates in October And Other Digital Transactions News briefs from 11/10/22
Overall consumer spending per household moderated in October compared to September, up 2.9% year-over-year vs. 3.2%, according to a study from Bank of America Institute. Still, total transactions for the bank—cards, ACH, wires, bill pay, P2P, cash, and checks—increased 9%. Payments provider Green Dot Corp. reported consolidated gross dollar volume of $18.7 billion …
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9 November
Eye on BNPL: Affirm On Track to Be Profitable in Fiscal ‘23; Afterpay Expands in Canada
Affirm Holdings Inc. says it is on track to post profitable operating income in its fiscal year 2023. The declaration came during a conference call with analysts late Tuesday to discuss the buy now, pay later provider’s financial performance during the first quarter of its fiscal year 2023, which ended …
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9 November
Oracle Follows up Its Payment Cloud Launch With a Handheld Payment Device for Restaurants
The tech giant Oracle Corp. early this summer launched a cloud-based payments-processing service aimed at the hotly contested restaurant market, and early on Wednesday the company added a handheld device for servers to use tableside. The new terminal, dubbed the Oracle Micros Simphony mobile order and pay device, runs on …
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9 November
Ralphs Now Accepts Apple Pay and other Digital Transactions News briefs from 11/9/22
California grocer Ralphs has begun accepting Apple Pay in its 184 locations in the state, reported MacRumors.com, citing a company spokesperson. Ralphs is part of the Kroger Co., which Digital Transactions News reported in 2020 was testing contactless payments at some of its locations. Kroger launched its proprietary mobile-payments service Kroger Pay in 2019, but has …
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8 November
Regulators Are Standing in the Way of Stablecoin Development, a TCH Paper Alleges
The Clearing House Payments Co. LLC early Tuesday issued a white paper alleging that federal regulators are effectively blocking national banks from issuing stablecoins. This is despite the agencies’ own conclusion that the banks have the authority to issue the digital currency, the paper says. The paper also follows an …
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8 November
E-Commerce Merchants Can Expect a Better Holiday Season This Year, ACI Predicts
Consumers are projected to be shopping more online this holiday shopping season, compared to the same period a year ago. Data released Tuesday by payments-technology provider ACI Worldwide Inc. projects a 15% increase in e-commerce transactions from October through December, compared to the same period in 2021. The projected increase …
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8 November
ACI CEO Out and other Digital Transactions News briefs from 11/8/22
Thomas Warsop is taking over as chief executive of payments-technology provider ACI Worldwide Inc., succeeding Odilon Almeida, who is stepping down after serving in that role since March 2020. Warsop formerly was non-executive chair of the board of directors and is being succeeded in that role by board member Adalio Sanchez. Dow …
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7 November
Shift4 Plans More Overseas Business While Looking for More Conversions to End-to-End Processing
Shift4 Payments Inc. has been a busy payments provider in recent years, and early Monday the company made plain its pace will only get faster and will include continued expansion internationally. Traditionally focused on the U.S. market, executives told equity analysts the company had closed on its first acquisition in …