Monday , May 16, 2022

News

May, 2022

  • 6 May

    A Pickup in Cash App Usage Helps Propel Block’s First-Quarter Results

    Block Inc.’s Cash App unit perked up in the first quarter, as the company reported that usage and instant-deposit volume for the digital wallet both increased during the period. With Bitcoin activity excluded, revenue for Cash App in the quarter grew $203 million, a 38% jump, compared to the first …

  • 6 May

    Card Spending Increased 13% in April and other Digital Transactions News briefs from 5/6/22

    Bank of America Institute reported that credit and debit card spending by BofA credit and debit cardholders increased 13% in April compared to the same month in 2021. Credit card dollar volume rose 22%, while spending on debit cards was up 6%. Combined transactions increased 8%.Some 43% of consumers would use …

  • 6 May

    COMMENTARY: Small Business Revenues Are Up, But New Challenges Emerge

    Kabbage from American Express has been tracking recovery trends and the growth outlook for U.S. small businesses. Polling 563 small-business leaders, our latest installment exhibits how small businesses are adapting to a shifting market as they look beyond pandemic-wrought challenges, adjust for inflation, and modify hiring approaches. Small businesses are preparing …

  • 5 May

    Lightspeed Leverages a Single Platform That Enables POS And E-Commerce Payment Channels

    Lightspeed Commerce Inc. early Thursday announced the launch of Lightspeed Retail. The new platform, which pulls features from platforms of other companies the Montreal-based processor has acquired, combines point-of-sale, payments, and e-commerce solutions.  The platform also leverages so-called headless commerce technology, which is an e-commerce architecture where front-end applications are decoupled …

  • 5 May

    Interchange ‘Not Entirely’ Partisan and other Digital Transactions News briefs from 5/5/22

    The Judiciary Committee of the U.S. Senate heard testimony Wednesday from witnesses both for and against regulation of credit card interchange. Speakers represented a supermarket chain, merchant groups, Mastercard and Visa, and a bank. The hearing showed that “while more Democrats than Republicans likely would support greater intervention in the …

  • 5 May

    Stripe Launches Financial Connections, Opening the Door Wider to Open Banking

    The big payments fintech Stripe Inc. extended its reach into the world of open banking late on Wednesday with the launch of Stripe Financial Connections, an application that allows businesses to establish direct connections with their customers’ bank accounts. The new application will enable businesses to verify accounts for payments …

  • 4 May

    The Secret to Winning and Retaining Merchants? Meet Finova Capital

    By: Bryan Brouillard For today’s ISOs and processors, more product offerings mean a bigger, more consistent merchant base. There’s one major problem: Traditional off-the-shelf products tend to be generic, costly, and complicated. Having served over 1 million merchants during my 20 years in merchant acquiring and lending, I’m familiar with …

  • 4 May

    Nettlesome Chargebacks Prove Vulnerable to Mitigation Efforts, a Report Finds

    There’s a bit of apparent good news when it comes to chargebacks. The chargeback-to-transaction ratio decreased from 1.94% in 2020 to 1.52% in 2021, and is also down from the remarkable 3.76% seen in 2017. That’s according to the fourth annual “The Year in Chargebacks Report” from Midigator LLC, a …

  • 4 May

    Behind The Clearing House’s Effort to Bring Tokenization to Its Real Time And ACH Services

    Against a background of emerging real-time payments and steady growth in automated clearing house transactions, The Clearing House Payments Co. LLC is working to mask those transfers with a technology the payment card business has used for years—tokenization. The job is enormous. “We’re just starting—it’s going to take time,” says …

  • 4 May

    Fiserv Adds Affirm BNPL to Carat and other Digital Transactions News briefs from 5/4/22

    Processor Fiserv Inc. announced it is adding buy now, pay later services from Affirm Inc. to its Carat operating system. Affirm joins Bread, Synchrony, and Zip as current providers. Affirm said its service will be the first fully-integrated BNPL provider with Carat.Payments provider Rapyd Financial Networks Ltd. launched Virtual Accounts, intended to allow businesses anywhere globally …

Digital Transactions