Digital Transactions Authoritative, insightful and timely information for payments professionals
A class of 46 million consumers in the United Kingdom cleared a major hurdle last week when the country’s Supreme Court ruled that a class-action suit brought against Mastercard Inc. for excessive interchange fees can proceed. But they still face a major challenge proving that consumers were materially harmed by …
December, 2020
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14 December
How the Ransomware Attack on TSYS Could Be an Early Indicator of Bad News to Come
The recent ranswomware attack on the big payments processor TSYS could portend worse to come for the payments business as cyber criminals seek vulnerabilities in the industry and carry out new tactics to squeeze out ransom payments from their victims. More attacks on credit and debit processors are “absolutely” coming, …
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14 December
Fast Woos WooCommerce and other Digital Transactions New briefs from 12/14/20
Online checkout provider Fast AF Inc. said its service is now available to 4 million e-commerce stores on the WooCommerce platform. Earlier this year, Fast received $20 million from investors, including Stripe.Spending on entertainment decreased for the week ending Dec. 6, compared to the week ending Dec. 8, 2019, with a 23.9% drop in debit …
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11 December
Expect a 4.1% Growth in Open-Loop Prepaid Loads Through 2024, Mercator Forecasts
Like many industries, the open-loop prepaid card segment of payments has absorbed the impact of the Covid-19 pandemic, but the results may not be as harsh as for some other segments in payments. That’s one assessment from Mercator Advisory Group’s 17th Annual U.S. Open-Loop Prepaid Cards Market Forecast 2020-2024 Part …
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11 December
Startup Xspaced Teams With Dwolla to Ease Rent Burdens for Tenants Pressed by Covid-19
Among the hardships some consumers are bearing these days, rent payments can loom large. This week, a housing-payments startup called Xspaced and payments provider Dwolla Inc. launched a feature that allows tenants to split rent payments into anywhere from two to four installments each month without accruing interest. Landlords still …
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11 December
Contactless Payments Could Reach $4.6 Trillion in 7 Years and other Digital Transactions News briefs from 12/11/20
The global contactless payment market is forecasted to reach $4.6 trillion by 2027, up 338% from $1.05 trillion in 2019, said Precedence Research. The market is predicted to have a compound annual growth rate of 20.01% from 2020 to 2027.Concord Acquisition Corp., which has been formed to acquire or otherwise combine with payments and …
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10 December
Verizon Taps Fiserv’s Clover to Enable Contactless Payments For Its Business Customers
With merchant demand for contactless payments rising fast in the face of the Covid-19 pandemic, Verizon Communications Inc. announced Thursday its Verizon Business unit will begin offering Fiserv Inc.’s Clover Flex mobile point-of-sale device to its business customers. The deal gives Verizon clients access to Fiserv’s merchant services for online, mobile, …
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10 December
Big E-Commerce Processor Worldpay Agrees to Enable Visa Tokens And Click To Pay
In the midst of a boom in online commerce, one of the biggest e-commerce transaction processors globally has agreed to support both a Visa Inc. service that masks users’ card credentials and a streamlined online checkout technology offered by all four major card networks. FIS Inc. said Thursday its Worldpay processing …
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10 December
Fiserv Adds Its 500th Financial Institution to Zelle and other Digital Transactions News briefs from 12/10/20
Fiserv Inc. said CB&S Bank is the 500th financial institution added to the Zelle network via the processor. Zelle is the person-to-person payments service from Early Warning Services LLC.DaVinci Payments and North Lane Technologies (formerly Wirecard North America) jointly announced the completion of a previously announced merger. The combined business will operate …
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9 December
Hudson Executive Capital And Apollo Global Management Bid to Take Cardtronics Private
Cardtronics plc, a leading non-bank ATM deployer, has been tendered an offer by Hudson Executive Capital and Apollo Global Management for its outstanding shares of stock at $31 per share in cash. Cardtronics, which operates more than 270,000 ATMs, has a less than 10% share of the global ATM business …