Digital Transactions Authoritative, insightful and timely information for payments professionals
Payments provider Netevia Group LLC said it raised up to $120 million committed and uncommitted capital from private investment firm WhiteHorse Capital. Ant Group and Mastercard Inc., and 12 other Ant payment partners have extended the International Consumer Friendly Zones program to Chengdu and Chongqing because inbound tourist travel is increasing in the region. They launched …
July, 2024
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2 July
How the Supreme Court Has Set up an Intense Struggle Over Sellers’ Debit Card Costs
Decisions from the U.S. Supreme Court are supposed to settle matters, but a verdict the high court delivered early Monday has the potential to stir up debit card pricing questions for some time to come, some observers say. The justices, in a 6-3 decision, ruled a case brought by a …
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2 July
Despite Exposure, AU10TIX Says There’s No Malicious Activity From Stolen Credentials
Allegations that sensitive identification data managed by Israel-based AU10TIX could have been accessible outside of verified access are not fully accurate, AU10TIX says. The suggestion of a possible data exposure comes from a 404 Media report that says online administrative credentials were exposed for more than a year, according to …
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2 July
Raptor Acquires PayK12 and other Digital Transactions News briefs from 7/2/24
Raptor Technologies, a provider of software to schools, announced it has acquired PayK12, a platform for online payments and event ticketing for schools from kindergarten through 12th grade. Terms were not announced. Payments-technology provider SpotOn said it has joined the U.S. Foods Check Business Tools program, which provides technology and services to …
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1 July
Contactless May At Some Point Include Functions Beyond Payment, the NFC Forum Says
Contactless transactions were supercharged by the pandemic, and now slightly more than half of U.S. cardholders are using the technology when they pay with either cards or wallets, according to Mastercard Inc. research. With that kind of momentum behind them, researchers are looking at ways to expand near-field communication technology, …
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1 July
Nayax Readies EV CloudPay for Burgeoning Electric Vehicle Charging Payments
Payments and commerce platform Nayax Ltd. is tapping the cloud to enable its EV CloudPay service designed for payments at electric-vehicle charging stations. Announced Monday, EV CloudPay enables motorists to pay for EV charging with a credit card, debit card, or mobile wallet via a physical payment-processing kiosk at charging …
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1 July
Debit Cap Suit Can Proceed and other Digital Transactions News briefs from 7/1/24
The U.S. Supreme Court ruled a lawsuit challenging the Federal Reserve’s 2011 debit card cap as too high can move forward. The suit, brought in 2021 by a North Dakota truck stop, had been opposed by banks as having been filed too late. Downloads of digital-identity apps will grow 126% worldwide, …
June, 2024
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28 June
Tiptop Adds a New Twist to BNPL By Applying Trade-In Value to New Purchases
Tiptop Labs Inc., a payments-service provider, has launched a buy now, pay later program that allows consumers to trade in items for a credit toward a new purchase with select e-commerce merchants. The idea of applying trade-in value for a new purchase grew out of a trade-in-only app Tiptop launched …
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28 June
What Would a Credit Card ‘Holiday’ Look Like?
In 1933, President Franklin Roosevelt shut down financial institutions for a week, called a “bank holiday,” to restore calm after a run on banks. This comes to mind after a federal judge recently indicated she won’t approve a settlement between the major card brands and merchants over the fees that …
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28 June
U.S. Mobile Payments Volume to Reach $797 Billion in 2025 and other Digital Transactions News briefs from 6/28/24
Data from eMarketer, a research firm, indicates mobile payments at the point of sale in the U.S. market will total $670.5 billion this year, up 21.4% from 2023, and will grow nearly 19% to reach $797 billion in 2025. Volume will cross the $1-trillion mark in 2027, the firm predicts. SmartMetric …
