Digital Transactions Authoritative, insightful and timely information for payments professionals
To make modern fraud detection technology more accessible to community banks, Jack Henry & Associates Inc. late Thursday announced plans to launch early next year Financial Crimes Defender, a cloud-native platform for detecting fraud and other suspicious account activity that can hurt consumer’s financial health, as well as financial crimes, such …
August, 2022
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26 August
COMMENTARY: Payments Security Requires Tokenization, Biometrics—And You
Digital payments are on the rise, and so is payment fraud. As of 2020, nearly 80% of Americans used at least one form of digital payment. Between 2020 and 2021, payment fraud attacks rose dramatically on digital wallets (200%), payment service providers (169%) and crypto exchanges (140%). To keep up …
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26 August
Affirm Posts Big Volume Gains And Other Digital Transactions News briefs from 8/26/22
The buy now, pay later provider Affirm Inc. reported gross merchandise volume for its June quarter totaled $4.4 billion, up 77% year-over-year. For the year ended June 30, volume came to $15.5 billion, up 87%. Active merchants ballooned from 29,000 a year ago to 235,000, driven by Shop Pay Installments, an Affirm …
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25 August
Eye on ATMs: Bitcoin Depot Eyes Going Public and DataStream Gets Interac OK
The ATM world is about to get another publicly held company. Bitcoin Depot, a Bitcoin ATM operator with more than 7,000 machines in the United States and Canada, intends to go public in a merger with GSR II Acquisition Corp., a special purpose acquisition company. Announced Thursday, the proposed deal …
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25 August
As E-Commerce Soars, Network Tokens Take off
Visa Inc. announced late Wednesday it has now issued more network tokens than there are physical Visa cards, eight years after the launch of the Visa Token Service. With a boom in e-commerce and other digital applications, the service has now issued more than 4 billion tokens, Visa said, almost …
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25 August
MoviePass Picks Usio’s Prepaid Service And Other Digital Transactions News briefs from 8/25/22
MoviePass, a movie-theater subscription service, selected Usio Inc. as its exclusive prepaid card issuing platform. Usio will be the program manager and processor for the upcoming MoviePass debit card it plans to issue to all subscribers.PayPal Holdings Inc., in conjunction with National Philanthropic Trust and Vanguard Charitable, launched Grant Payments, a product …
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24 August
A Data Security Standard Attracts New Financial Services Supporters
The drive to create a data security standard designed for digital financial services applications that use cloud-computing, such as open banking, continues to gain momentum. Anecdotes AI Ltd, Codat Ltd., Skyflow Inc., and Very Good Security Inc. are the latest digital finance companies to join a group of financial technology …
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24 August
Contactless Fare Payment Comes to Smaller Towns With Cubic’s Project in Sault Ste. Marie
Systemwide contactless-fare technology, which has been available mainly for mass-transit systems in major cities, is starting to find its way into smaller towns. Cubic Corp. on Tuesday said it will install its Umo mobility platform in buses serving the Canadian town of Sault Ste. Marie, Ontario, population 72,000. The system, …
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24 August
Google Wallet Adds Markets And Other Digital Transactions News briefs from 8/24/22
Alphabet Inc. said it is expanding Google Wallet to six more countries, including South Africa, bringing to 45 the number of countries in which the product can be used. Google Wallet was introduced this spring as a replacement for Google Pay.Transaction processor Computer Services Inc. said it will be acquired by private investment firms Centerbridge …
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23 August
Gift Cards Will Be High on Gift Lists This Holiday Season, A Fiserv Study Says
Gift cards are expected to be popular presents this holiday season as 60% of consumers say they will buy the cards to fill a void in product availability created by disruptions to product supply chains, says Fiserv Inc.’s Q3 2022 Gift Card Gauge. Discount stores and big-box retailers will be …