Digital Transactions Authoritative, insightful and timely information for payments professionals
Consumers may be ready to pull back from using credit cards if a survey from Auriemma Consulting Group is correct. Only 14% plan to increase their borrowing on credit cards in 2018, compared with 28% who said so in 2017. “Increased spending around the holiday season is normally predictive of greater …
February, 2018
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2 February
Two Sides of the Same Coin? Surcharging And Cash Discounts Puzzle Some in Acquiring
Curiosity, and a bit of confusion, about what constitutes credit card surcharging and cash-discount programs surfaced this week at the Northeast Acquirers Association annual conference in Uncasville, Conn. During a panel discussion about the benefits and challenges of credit card surcharging and cash-discount programs for merchants, participants explained how their …
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2 February
Visa Makes Super Bowl POS Upgrades and other Digital Transactions News briefs from 2/2/18
In advance of the Super Bowl on Sunday in Minneapolis, Visa Inc. said it has installed 700 upgraded point-of-sale terminals at U.S. Bank Stadium and additional POS devices at certain merchant locations in the city. The new devices are capable of handling contactless EMV transactions. An estimated 1 million people …
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1 February
With Uncle Sam’s Tax Cut in Place, Visa Expects a $1 Billion Windfall
North America’s largest payments company on Thursday said it expects to receive a $1 billion bonus from the federal tax-reform bill passed into law in December. In contrast with its rival Mastercard Inc., which reported earlier in the day it recorded an $873 million charge in the fourth quarter related …
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1 February
Regulatory Efforts May Be Quiet at the Federal Level, But Not So In States And the Courts
Federal regulatory initiatives targeting the payments industry may have abated, but a variety of others at the state level and in the court system could require reactions from payments providers. That’s the word from Scott Talbott, senior vice president of government affairs, who spoke Wednesday at the annual Northeast Acquirers …
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1 February
Mastercard Takes $873 Million One-Time Tax Hit; Lands Cabela’s Cobranded Card
Mastercard Inc. took an $873 million, one-time charge in 2017’s fourth quarter related to the new federal tax law, and the company reported Thursday that the cobranded Cabela’s Visa card will switch to the Mastercard brand. The Tax Cuts and Jobs Act that President Donald Trump signed into law in …
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1 February
Square Expands Bitcoin Service and other Digital Transactions News briefs from 2-1-18
PayPal Holdings Inc.’s stock was trading down about 7.5% as of mid-morning Thursday, hours after an announcement from eBay Inc. that the big marketplace will shift transaction processing from long-time provider PayPal to Netherlands-based processor Adyen. EBay’s business accounts for about 13% of PayPal’s volume, a share PayPal said Thursday …
January, 2018
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31 January
For PayPal, a New Deal Extends Its Link to eBay Even As It Seeks Out Other Marketplaces
PayPal Holdings Inc. on Wednesday said it has reached an agreement with its former owner, eBay Inc., that calls for PayPal to act as a checkout method on eBay for three years beyond the end of the five-year pact that separated eBay and PayPal in 2015. In that three-year period, …
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31 January
Bank-Owned Zelle Puts Venmo’s Millennial Enthusiasts Squarely in Its Cross-Hairs
Payments observers who think Venmo and Square Cash have locked up the Millennial crowd for peer-to-peer payments may have to reconsider. With the new advertising blitz it announced Monday, the bank-owned Zelle service is making it plain it plans to steal its share of this huge consumer market. “The advertising …
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31 January
Mobile-Capture Deposit Limits Rise for Consumers as Banks Eye Under-Penetrated Small Businesses
Banks and credit unions across the board are increasing deposit limits for mobile remote deposit capture transactions, and with the consumer remote-capture market mostly conquered, financial institutions are turning their attention to small businesses. Those are two highlights from RemoteDepositCapture.com’s 2017 study of the mobile-capture market. The Alpharetta, Ga.-based publishing …
