Digital Transactions Authoritative, insightful and timely information for payments professionals
• Mobile in-store payments will total $91.7 billion by 2020, up from $18.7 billion this year, according to a report from Javelin Strategy & Research. Browser-based and in-app mobile payments, however, will dwarf that number, reaching $318.8 billion, nearly doubling 2016’s $161.3 billion. • Movie-ticketing platform Atom Tickets will integrate JPMorgan Chase & …
December, 2016
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20 December
A Cross-Border Payments Startup Promises to Make the Blockchain Less ‘Intimidating’
Startups and established players alike have been working out payments applications for distributed-ledger technology for several years, and on Thursday one of those applications went commercial. San Francisco-based Wyre, founded in 2013, launched its cross-border payments service based on the blockchain. On the same day, Wyre also raised $5.8 million in a …
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20 December
Google Wallet Gets New Browser Capability and Moves Beyond Mobile Devices
Alphabet Inc.’s Google unit has updated its Google Wallet to enable the person-to-person payments service to work on desktop computers and laptops using any browser. Google Wallet dates back to 2011 as a mobile-payments and P2P service, but in September 2015 Alphabet transferred the purchasing functionality to its Android Pay …
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20 December
Holiday E-Commerce Spending Grows 12% So Far This Year, Reflecting Confident Shoppers
Consumers are making their shopping, and payments, preferences known this holiday season. They are spending 12% more on e-commerce purchases so far this shopping season than they did in 2015, reports comScore Inc. Consumers have made $49.3 billion in e-commerce purchases from Nov. 1 to Dec. 12 using a desktop computer at home …
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15 December
1 Billion Yahoo Accounts Breached and other Digital Transactions News briefs
• Yahoo! Inc. disclosed Wednesday a breach of more than 1 billion user accounts in August 2013 that is separate from one involving 500 million accounts the Web giant announced in September. Yahoo said the new breach involved names, email addresses, birth dates, secure passwords, and security questions and answers, but did not …
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15 December
Fraudsters Targeting Mid-Priced Luxury Goods, Refurbished Electronics This Holiday Season
Tougher security vetting by high-end luxury goods retailers has online fraudsters moving downscale to the still-profitable mid-price range, and crooks also are targeting refurbished consumer electronics, according to new findings from security technology firm Forter Inc. Forter, which has offices in San Francisco and Tel Aviv, Israel, this week released …
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15 December
PayPal Follows Up on Visa And MasterCard Pacts With Citi And FIS Agreements for 2017
After PayPal Holdings Inc. in July signed a sweeping agreement with Visa Inc., and in September reached a similar deal with MasterCard Inc., giving PayPal access to the card networks’ token engines and thereby new access to the physical point of sale, observers wondered when the other shoe would drop. It dropped …
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15 December
A Landmark Reciprocity Pact Lets Visa And MasterCard Access Each Other’s Tokens
Visa Inc. and MasterCard Inc. have been tokenizing their payment cards since 2014, but have not been able to access tokens for cards branded by the other network. That will change soon as the result of an agreement announced separately Thursday by Visa and MasterCard. Under the agreement, Visa will be able …
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14 December
Bill Pay, Mobile Deposit Among the Most Popular Features of Banks’ Mobile Apps
Bill payment continues to reign as the most-used payments feature of banks’ mobile apps, but mobile deposit and person-to-person payments are coming on strong, according to new findings from research firm Celent and FI Navigator Corp. The “Mobile Banking Quantified” study by Celent, a division of New York City-based of Oliver …
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14 December
Eye on Gift Cards: InComm Nets Distribution Deal; Blackhawk Debuts Hawk Direct
As gift cards continue to garner great consumer interest—they are the most sought-after gift this holiday season, says the National Retail Federation—two gift card providers announced moves to boost their respective market shares. In an exclusive deal, Atlanta-based InCommwill provide grocer cooperative Wakefern Food Corp. with a gift card and prepaid program. The …