Digital Transactions Authoritative, insightful and timely information for payments professionals
A new micropayment platform called Qoins has just closed a first round of funding for $1 million. The app allows users to pay off debt by rounding up purchases to the nearest dollar and sending the excess to the creditor, with a focus on credit card and student debt. Qoins …
September, 2018
-
27 September
Cash-Based Online Payment Service PayNearMe Adds Card And ACH Options
For nine years, PayNearMe has focused on enabling consumers without access to payment cards to make cash payments for online goods at point-of-sale terminals in what has grown to a network of some 27,000 merchant locations. On Thursday, the Sunnyvale, Calif.-based company said it now can process credit, debit, and …
-
27 September
Understanding OFAC: A Best Practices Compliance Guide for All Businesses
Over the last decade, the Office of Foreign Assets Control (OFAC) has imposed $4.3 billion in civil money penalties. But did you know that businesses other than banks received 81% of these fines last year? Yes, OFAC violations are costing U.S. businesses hard-earned cash. Since the attacks of Sept. 11, …
-
27 September
Chase Adds Card Lock Feature and other Digital Transactions News briefs from 9/27/18
BNY Mellon has become the first bank client to sign a reseller agreement with Early Warning Services’ Zelle person-to-person payment network for tokenized disbursements to consumers. Zelle indicated earlier this year it would expand into disbursements as a potential field for fee-based payment services. Zelle also announced Dollar Bank now offers Zelle …
-
26 September
The World Added 15 Real-Time Payments Systems in the Last Year, and 21 More Are Coming
The world currently has 40 real-time payments systems versus only 25 just a year ago, payment processor Fidelity National Information Services Inc. (FIS) reported Wednesday. What’s more, five such programs are under development, and another 16 should be live in 12 months to 18 months, Jacksonville, Fla.-based FIS says in …
-
26 September
EBay Starts Managing Payments And Looks to Add a ‘Majority’ of Sellers by 2021
EBay Inc. on Tuesday announced it has “begun managing payments” on its massive marketplace and said it expects to have a “majority” of sellers converted to the new program by 2021. Under the new payments regime, sellers will encounter lower transaction costs, eBay’s announcement said, though it did not offer …
-
26 September
Financial Institutions’ Costs Increase to $2.92 for Every Dollar of Fraud, Says LexisNexis Risk Solutions
Financial institutions, like their retailer counterparts, are feeling the effects of fraud through higher costs. For every dollar of fraud a financial institution experiences, it costs another $2.92 in associated costs, up 9% from $2.67 in 2017, says LexisNexis Risk Solutions in its 2018 True Cost of Fraud study for …
-
26 September
From Small ISO to International Powerhouse: How You Can Share in the Success
NXGEN is a technology company that delivers state of the art payment solutions to merchants globally. Founded in 2002, and based in Whitefish MT, NXGEN has grown with local offices across the country and a global footprint in 30 countries. The company has grown from the dreams of Founder/CEO, Thomas …
-
26 September
Square Adds Payroll Services and other Digital Transactions News briefs from 9/26/18
Payment gateway USAePay completed EMV certification for First Data Corp.’s Rapid Connect platform. USAePay said the certification enables merchants to accept EMV payments, particularly EMV PIN-debit transactions, via its mobile application. First Data Corp. launched a service for card issuers called FirstSense that combines threat intelligence with the company’s fraud-detection …
-
25 September
Visa Begins a U.S. Contactless Payments Push Again. This Time the POS Hardware Is in Place
It’s another go-around for contactless payments as Visa Inc. prepares an extensive campaign involving issuers, merchants, and consumers to push use of the payment method. The card brand on Tuesday debuted an infographic on contactless payments from across the globe, and touted the preparedness of the U.S. market for the …