Digital Transactions Authoritative, insightful and timely information for payments professionals
The city of El Monte, Calif., has extended its agreement with GiveCard, a prepaid debit card platform, to manage the city’s Guaranteed Income pilot program, which embraces 125 low-income participants. Togetherwork, a payments provider specializing in pet-care businesses, has acquired Petexec, a software provider for the same market. Terms were not …
December, 2024
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19 December
Consumers Are Struggling to Pay Their Credit Card Bills on Time, J.D. Power Finds
Consumers may not be racking up more revolving credit card debt than they did in 2023, but their ability to pay their bills on time is coming under pressure, according to a report released early Thursday by J.D. Power. Consumers say they are having a harder time paying their bills, …
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19 December
Worldline Adds Flexible Pricing for ISVs
The demand for more flexible pricing from independent software vendors using Worldline’s payment-processing services has spurred a new pricing model. Dubbed FlexPricing, the feature enables ISVs to adapt their pricing strategies to best suit them, Worldline says. Among the capabilities: charging a percentage fee on bank transfer transactions, adding custom …
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19 December
CapOne Inches Closer to Discover and other Digital Transactions News briefs from 12/19/24
Capital One Financial Corp.’s proposal to acquire Discover Financial Services for $35.3-billion, announced in February, has been approved by the Office of the Delaware State Bank Commissioner. The proposal includes Discover Bank. Shareholders in both companies are set to vote on the transaction Feb. 18, 2025. Visa Inc. has closed on its offer to acquire …
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18 December
A CFPB Circular Warns of Illegal Rewards Practices; Shareholders Will Vote on the Cap One-Discover Deal
The Consumer Financial Protection Bureau early Wednesday released a circular to law-enforcement agencies warning that operators of credit card rewards may be violating a prohibition against unfair, deceptive, or abusive acts or practices by devaluing earned credit card points and airline miles. The CFPB issued the circular in part due …
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18 December
FinCEN’s Ownership Reporting Rule Delayed Amid Court Ruling
A court ruling in Texas earlier this month has delayed an ownership reporting requirement mandated by the Corporate Transparency Act. That is not likely to be a reason to rejoice because a future court could uphold the requirement. Under the act, which went into effect Jan. 1, businesses were supposed …
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18 December
VizyPay Revenue up 14% and other Digital Transactions News briefs from 12/18/24
Payments provider VizyPay said it processed $2.06 billion on 39 million transactions in 2024, as revenue climbed 14% to $24.1 million. PDX Global has completed tests for its PDX Beam technology, which converts cryptocurrency to cash in consumer-to-merchant transactions. The company will on Thursday embark on a public beta test of the system. …
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17 December
Visa Uses AI To Thwart Cyber Monday Fraudsters; Card.com Adds Visa Direct Cross Border Payments
Visa Inc. announced it dealt a significant setback to fraudsters hoping to cash in on Cyber Monday, the busiest online-shopping day of the year, by stopping about 85% more suspect transactions than it did a year earlier. The increase in fraud prevention is significant, as suspect transactions rose 200% globally …
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17 December
Zelle Enlists Star Power in a Fraud Awareness Campaign
Zelle, the peer-to-peer payments service from Early Warning Services LLC, will put the detective powers of its S.A.F.E. Squad to work again with the help of actor Christina Ricci in a new education campaign on fraud and scams. This is the second year of the campaign and Ricci’s participation. This …
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17 December
Card Concepts Settles with PayRange and other Digital Transactions News briefs from 12/17/24
Card Concepts Inc. will license mobile-payments technology from PayRange Inc. as part of a settlement of a patent-infringement lawsuit PayRange had brought against rival Card Concepts. Both companies provide payments technology for unattended machines, such as laundry equipment. Unattended payments specialist Cantaloupe Inc. said it will provide the point-of-sale technology and Suites management system for …
