Digital Transactions Authoritative, insightful and timely information for payments professionals
Five years after its launch, the Zelle person-to-person payments service continues to boost payment volumes for one of its founders, Bank of America Corp. BofA reported Monday that its second-quarter P2P Zelle transaction volume hit 239 million, up 26% from 189 million payments a year earlier. The value of the …
July, 2022
-
19 July
Apple Sued Over Apple Pay Fees And Other Digital Transactions News briefs from 7/19/22
A class of card issuers is suing Apple Inc., alleging they pay $1 billion in fees annually for inclusion in the technology company’s Apple Pay mobile wallet, while Apple maintains a monopoly on contactless payments at the point of sale for iOS devices. Filed in the U.S. District Court for the …
-
18 July
Purchase Volumes And Interchange Revenues Rise for Private-Label Card Giant Synchrony
Fresh off the introduction of its buy now, pay later product, the big private-label and cobranded credit card issuer Synchrony Financial on Monday reported that strong consumer spending in the second quarter boosted its purchase volumes and interchange income. Stamford, Conn.-based Synchrony said total purchase volume hit $47.2 billion for …
-
18 July
More Than Token Progress: Tokenized Payments Will Hit 1 Trillion by 2026, Juniper Predicts
The total volume of tokenized payment transactions worldwide will exceed 1 trillion by 2026, up from 680 billion this year, according to a report released Monday by Juniper Research. The growth will come mostly from click-to-pay options that allow buyers to pay with a single click, using tokenized credentials, the …
-
18 July
Mastercard Makes a Quantum Leap And Other Digital Transactions News briefs from 7/18/22
Mastercard Inc. and D-Wave Systems Inc., a quantum computing systems firm, announced a multiyear alliance to advance the adoption of quantum computing technology in areas such as consumer loyalty and rewards, cross-border settlement, and fraud management applications.Payments provider Adyen NV said it has processed 10 million donations by buyers on the commerce platform …
-
15 July
Synchrony Jumps Into The BNPL Game With an Assist From Fiserv’s Clover App Market
Synchrony Financial is the latest entrant in the highly popular, and increasingly crowded, buy now, pay later market. The Stamford, Conn.-based provider of consumer-financing products is partnering with Fiserv Inc. to allow merchants using Fiserv’s Clover platform to offer BNPL as a consumer-financing option. Called SetPay in 4, Synchrony’s BNPL …
-
15 July
COMMENTARY: How Can Neobanks Keep Up? The Answer Lies in Their Edge in Tech
In recent times, we have witnessed an explosion in the neobanking sector, with emerging digital-only providers benefiting from rapid digitization. Now, as this sector begins to mature, companies must find a way to retain customers that may want to transition back to traditional banking companies. To do so, businesses in …
-
15 July
Amazon Prime Day Results And Other Digital Transactions News briefs from 7/15/22
Amazon.com Inc.’s two-day Prime Day event this week racked up more than $12.09 billion in sales, up 8% from last year’s event, according to an estimate from Digital Commerce 360.Privately held payments provider Stripe Inc. reduced the internal value of its shares by 28% to about $29 per share, resulting in a valuation for the …
-
14 July
Mitigating fraud risk for merchants with a layered approach to security
By Steven Velasquez, Senior Vice President and Head of Partner Business Development for Elavon, Inc. The rise of global eCommerce due to pandemic-related consumer behavior, disruptions to the supply chain, and the current climate of geopolitical turmoil have converged to create a perfect storm for fraudsters and cybersecurity attacks. …
-
14 July
Car IQ’s App Looks to Bring Fueling to Sunoco Fleet Customers at Nearly 5,000 Stations
Car IQ Inc. has inked a deal with petroleum company Sunoco LP to allow Sunoco’s fleet customers to purchase fuel without a credit card. Businesses, government agencies, and other organizations participating in Sunoco’s fleet program will be able to pay for gas at nearly 5,000 Sunoco stations by summer’s end …