Digital Transactions Authoritative, insightful and timely information for payments professionals
Merchant processor Square Inc. on Nov. 1 will drop its longstanding 2.75% point-of-sale rate for a new pricing plan of 2.6% plus 10 cents. Based on recent U.S. purchase dollar- and transaction-volume statistics from the bank card networks, Digital Transactions News calculates the new pricing plan will generate about 1% …
September, 2019
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25 September
PayPal Fined in iZettle Deal and other Digital Transactions News briefs from 9/25/19
The United Kingdom’s Competition and Markets Authority fined PayPal Holdings Inc. £250,000 ($309,700) in connection with PayPal’s $2.2 billion acquisition of Sweden-based processor iZettle AB last year; the regulator said PayPal violated an order not to integrate its U.K. business with iZettle during an investigation by cross-selling services to U.K. consumers. PayPal said it …
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24 September
Eye on Data Security: High Risk for Insurers; Another Round of Attacks on Click2Gov
A new analysis says insurance companies are particularly vulnerable to e-commerce fraud, and a recent report says a second round of data breaches has occurred at cities that use the Click2Gov application for payment of utility bills, parking tickets, and related municipal payments. It’s practically an iron law that as …
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24 September
Sales Focus May Be ISOs’ Best Asset As They Court ISVs And VARs
Merchant-services companies may already have the best tool for courting independent software vendors and software developers. It’s the sales model. That’s the word from a panel at last week’s Western States Acquirers Association conference in Rancho Mirage, Calif. Many payment providers are looking to integrated payments, often an integral part …
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24 September
P97’s C-Store Payments Deal and other Digital Transactions News briefs from 9/24/19
P97 Networks, a mobile-payments and content provider for gas pumps, partnered with WannLynx, which supports in-store and at-the-pump video and other content for fueling stations, to enable payments as well as discounts, coupons, and other loyalty programs for convenience stores and gas stations.Brex, a startup that creates corporate card programs …
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23 September
A Panel Clears up Some Issues on Payments for CBD Merchants
The clamor to sign up merchants that want to sell hemp-derived cannabidiol products is undiminished despite multiple questions about what a legal CBD product is and how to onboard these merchants. “The banks are having a tough time now because it’s so new,” said Travis Chrisman, president and cofounder of …
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23 September
As POS Credit Gets More Crowded, Splitit Adapts the Concept for B2B Payments
Familiar now as a point-of-sale payment option, transactional credit is moving into the much larger—and more complicated—world of business-to-business payments. Splitit Payments Ltd. announced on Monday it has launched a service that allows merchants and other small businesses to pay suppliers with regular, interest-free installments on an existing business credit …
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23 September
FTC Action Involves Merchant Accounts and other Digital Transactions News briefs from 9/23/19
The Federal Trade Commission announced settlements with the two principals of Apex Capital Group, an Internet marketer of dietary supplements and personal-care products the FTC accused of using deceptive free-trial offers and negative-option billing in the U.S. and United Kingdom. The defendants must surrender assets valued at $3 million or more and are barred …
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20 September
A Multifront Assault on Payments Helps Deliver a Heady Valuation for Stripe
With three processor megamergers having closed in 2019, the value of firms involved in handling and managing electronic payments has seldom been clearer. But further evidence emerged this week with news of Stripe Inc.’s latest funding round, which valued the San Francisco-based payments-technology company at fully $35 billion. Indeed, at …
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20 September
UnionPay International’s Merchant Growth and other Digital Transactions News briefs from 9/20/19
The China-based payments network UnionPay International said it now links to more than 28 million merchants outside China, with 2 million having been added in the first half of 2019. The company also said 80% of U.S. merchants now accept UnionPay credit cards.Visa Inc. said its B2B Connect network now processes cross-border corporate …
