Digital Transactions Authoritative, insightful and timely information for payments professionals
As cyber attacks grow more vicious, investors are pouring more money into startups whose technology is aimed at thwarting online thieves. Funding deals for private cybersecurity firms reached 139 in the first quarter, the highest quarterly number recorded over the past five years by CBInsights, a New York City-based research …
May, 2017
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23 May
Eye on Cross-Border Payments: A Borderless Account; BlueSnap Teams With FedEx
TransferWise started out as an upstart processor enabling international remittances, but now it’s expanding into a much bigger arena. On Tuesday, it announced the availability of virtual accounts that let small businesses pay and receive payments internationally as if they had a local account. The service, called Borderless Account, covers …
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23 May
USAA Solicits Other Financial Institutions To License its Remote Deposit Capture Technology Patent Rights
USAA, a pioneer in developing remote deposit capture, said it is “inviting” banks and credit unions to license the patent rights to its RDC technology, for which the financial-services giant holds approximately 50 patents. Launched in 2006 as a way to enable USAA’s customers, many of whom are in the …
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22 May
COMMENTARY: Can the Payments Industry Meet the Challenge of Digital Commerce?
The payments industry is going to have to make some changes to ensure the long-term success of digital consumer-to-business payments. U.S. digital sales are thriving, and consumer demand will only continue to grow. According to a report from the U.S. Department of Commerce, U.S. online retail sales nearly quadrupled in …
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22 May
Bitcoin at $2,000: The Digital Currency’s Heady Ascent Obscures Its Payment Function
Like it or not, Bitcoin has momentum behind it. On Saturday, the digital currency breached the $2,000 level for the first time ever, and by Monday morning it was trading just shy of $2,200, according to CoinDesk, an online service that tracks cryptocurrency. That represents a quintupling in value since …
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22 May
Parking Kitty Debuts in Portland and other Digital Transactions News briefs
• Universal Secure Registry LLC, a developer of computer-security and mobile-payment services, alleges in a federal lawsuit that Apple Inc. and Visa Inc. infringed on its patents for electronic payments and identity authentication as they developed their mobile-payment services. Apple and Visa did not immediately respond to requests for comment. • The …
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19 May
Visa Gets a Lot of Likes, But the Card Brands as a Group Don’t Get Much Love
Consumers may like the leading payment brands, especially Visa, but they don’t connect with them on an emotional level, according to new research findings from payments-industry consulting firm The Strawhecker Group. Asked if they “have any emotional connection” to any of the brands, some 77% of TSG’s respondents said no. …
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19 May
Cayan’s New Card Reader Targets Software Developers And Vendors
Cayan’s new Genius Mini card reader may look like any number of headphone-jack or Bluetooth devices meant to connect to a smart phone or tablet to enable payment card acceptance. That’s because it’s the software the Genius Mini uses that distinguishes it from similar devices. The device is designed to …
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19 May
Congressman Speaks Up on Durbin Amendment and other Digital Transactions News briefs
• U.S. Rep. Ted Budd, R-N.C., a former retailer, delivered a speech in the House of Representatives in favor of repealing the Durbin Amendment, drawing praise from the Electronic Payments Coalition, a lobbying group for banks and card networks. The House is considering H.R. 10, the Financial Choice Act, which would overhaul …
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18 May
Android Pay Makes a Deal With First Data’s Clover And Extends One With PayPal
Recruiting massive processor First Data Corp. and existing partner PayPal Holdings Inc., the Google unit of Alphabet Inc. on Wednesday announced critical extensions of its Android Pay mobile-payment service into both physical and online commerce. In an arrangement that will become available to merchants and developers later in 2017, Atlanta-based …
