Sunday , August 9, 2020

News

July, 2020

  • 27 July

    Garmin Says Outage Doesn’t Affect Payment Data

    The ability of hackers to disrupt connected devices was on display over the weekend with Garmin Ltd., a major purveyor of fitness trackers, smart watches and related tech gear, including products that can make contactless payments, reporting service interruptions that some observers say have been caused by a ransomware attack. …

  • 27 July

    Paysafe To Buy Openbucks and other Digital Transactions News briefs from 7/27/20

    Payment processor Paysafe said it has a deal to acquire the gateway Openbucks for an undisclosed price.The Missouri Department of Social Services said it now allows child-support payments via Apple Pay, Google Pay, and PayPal.Mogo Inc., a Canadian fintech, made publicly available MogoSpend, a so-called spending account that comes with a cobranded Visa Platinum prepaid …

  • 27 July

    A Ripple Executive Sets up a Digital Wallet for One-Click Checkout With XRP

    The big card networks have been introducing a one-click e-commerce checkout and plan to take it overseas by next year, but now a Ripple Labs Inc. executive may beat them to the punch with a single-click capability for Ripple’s XRP cryptocurrency. In what he characterizes as a “personal project,” Ripple director …

  • 24 July

    ‘Mid-April Was the Trough,’ AmEx Says As It Works to Recover From the Pandemic’s Impact

    American Express Co. felt the full brunt of the global Covid-19 pandemic in the opening weeks of the second quarter, and on Friday it released numbers showing just how hard the swoon in travel and other key sectors hit the company. Executives also took time on a conference call with …

  • 24 July

    Repay Acquires cPayPlus and other Digital Transactions News briefs from 7/24/20

    Payment processor Repay Holdings Corp. acquired cPayPlus LLC, a provider of accounts-payable automation technology. Repay paid $8 million at closing and could pay $8 million more in 2021’s third quarter depending on cPayPlus’ achievement of growth targets.After a limited release in May, a 3-year-old challenger bank called Dave announced it will issue debit cards …

  • 23 July

    A Surge in Online Shopping Leads Citcon to Develop No-Code Plugins for E-Commerce Payments

    Payments provider Citcon USA LLC said early Thursday it is unveiling plugins that will allow e-commerce platforms like Commerce Cloud, Magento, Salesforce, Shopify, WooCommerce, and others to offer merchants the ability to accept Alipay, WeChat Pay, and China UnionPay, as well as credit cards, without coding. The development represents a …

  • 23 July

    Google Announces Test With No Commissions for Sellers Using Its Shopping Platform

    Expanding on an initiative it began April that offered free listings for some merchants, search-engine leader Google on Thursday announced a test that charges zero-percent commissions to online sellers when they sell a product through its Shopping Actions service. In addition, sellers can use Shopify Inc.’s payment service as well …

  • 23 July

    75% of Consumers Prefer Contactless Cards and other Digital Transactions News briefs from 7/23/20

    Some 75% of U.S. cardholders prefer contactless cards to card swipe, mobile payment, inserting a chip card, and cash, according to a survey of 1,000 cardholders by card-technology specialist Entrust Datacard.Alliance Data Systems Corp., a provider of private-label card programs, reported a 27% year-over-year drop in revenue for the second quarter to …

  • 22 July

    Discover’s Credit Volumes Take a Hit, but the Pulse Debit Network Posts a 12% Increase

    Discover Financial Services on Wednesday became the first major payment network operator to report its second-quarter performance, and things weren’t pretty on the credit card side in the wake of the Covid-19 pandemic. Volumes on Discover’s Pulse debit network, however, rose by double digits. Taking the biggest hit was the …

  • 22 July

    Don’t Look for Any Near-Term Relief When It Comes to Fraud Losses, LexisNexis Risk Solutions Says

    While merchants, banks, and payments providers may be tempted to blame sharply rising fraud rates on the pandemic, fraud losses were rising before Covid-19 set in and will continue to rise for as far as the eye can see, according to experts behind a major fraud report released this week. …

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