News

October, 2022

• 5 October

  Targeting Higher Tickets, Afterpay Raises Its Credit Limits And Repayment Periods

  

  In response to consumer demand to use buy now, pay later installment loans for higher-ticket purchases, such as home furnishings, the big BNPL player Afterpay has increased its credit limits and repayment periods. Afterpay users can now take out BNPL loans for purchases of between $400 and $4,000 and repay …
• 5 October

  Eye on Mastercard: Efforts To Reduce E-Commerce Fraud And Ease Review of Crypto Purchases

  

  The unceasing effort to eliminate e-commerce fraud while allowing legitimate transactions to flow unimpeded could be getting another boost as Mastercard Inc. pairs with Ravelin Technology Ltd., a machine-learning fraud platform, to better validate a consumer’s identity without adding friction to the checkout flow. Mastercard also introduced Crypto Secure, a …
• 5 October

  SWIFT Completes CBDC Tests And Other Digital Transactions News briefs from 9/20/22

  

  The SWIFT international payments network announced two tests it has completed have shown that central bank digital currencies and other tokenized assets can be handled without incident on existing processing technology.In related news, the fintech CryptoBucks said its CrytoBucks Wallet is available for download from the App Store and Google Play. The wallet allows …
• 4 October

  Legislative Pressure Mounts to Curb Fraud on Zelle

  

  Pressure from the Senate Banking Committee on Early Warning Systems LLC, operator of the Zelle peer-to-peer payment network, is rising as committee members continue to press Early Warning for information about the extent of fraud on the network. A report released by Sen. Elizabeth Warren’s office late Monday charges that …
• 4 October

  The Fed Makes It Final: All Issuers Must Offer a Choice of Unrelated Networks for All Debit

  

  The Federal Reserve said late Monday it has completed work on a clarification that reinforces a more than decade-old requirement that issuers enable a choice of at least two competing networks for online debit card transactions. The release follows months of research and investigation by the Fed and will go …
• 4 October

  Zuza Marketplace Debuts And Other Digital Transactions News briefs from 10/4/22

  

  Point-of-sale software developer Zuza launched its Zuza Marketplace on its Super App platform. Merchants can peruse the marketplace to find tools and third-party apps that can aid their businesses, Zuza said.U.S.-based Uplift, which offers buy now, pay later capability for the travel industry, announced Royal Air Maroc, a Morocco-based airline, has adopted its …
• 3 October

  Boston Consulting Group: Payments Revenues Will Stay Resilient Despite Headwinds

  

  Despite economic headwinds from supply-chain bottlenecks and geopolitical instability, the payments industry continues to show resilient revenue growth, says a new report from the Boston Consulting Group. Global payments revenues are projected to grow about 9.5% in 2022, according to the report. Beyond this year, revenues are projected to grow …
• 3 October

  Durbin Pushes to Attach His Credit Card Routing Proposal to a Senate Defense Bill

  

  Indications emerged late last week that Sen. Richard Durbin, D-Ill., has embarked on a strategy for his credit card routing bill that follows a path similar to one he forged a decade ago for his rules governing debit card routing. The veteran senator, along with co-sponsor Roger Marshall, R-Kan., have …
• 3 October

  Lightspeed Restaurant Tweaked And Other Digital Transactions News briefs from 10/3/22

  

  Lightspeed Commerce announced it has added a data-analytics capability, Lightspeed Advanced Insights, to its Lightspeed Restaurant payments service.The French payments company Worldline announced it has closed on the sale of its Terminals, Solutions & Services unit to Apollo Funds. The 2.2-billion-euro deal, which includes the Ingenico line of point of sale devices, was announced in …

September, 2022

• 30 September

  In a Payments Industry First, Usage of Debit Cards Tops That of Credit Cards

  

  Consumers’ usage of debit cards has finally surpassed that of credit cards. Through the second quarter of 2022, 56.2% of consumers preferred debit as their primary payment card, compared to 39.5% for credit, according to a report from S&P Global Market Intelligence. Those numbers represent a dramatic change in the …