Digital Transactions Authoritative, insightful and timely information for payments professionals
The payments-technology provider Dwolla Inc. has integrated its Dwolla Connect platform for account-to-account payments in open finance. The integration will enable Dwolla Connect clients to transfer open-finance data to the Dwolla platform, the company says. As a result, financial institutions and third-party open-banking providers, such as Plaid Inc. and MX …
October, 2023
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31 October
Merchants Will Be the Winners in the Fed’s Debit Scheme, Global’s Boss Says
Observers of the payments industry who wonder how the Federal Reserve’s proposed rate reductions for debit card acceptance might be received by the nation’s biggest processors heard an unequivocal answer early Tuesday from at least one of them. “Any time the cost of acceptance goes down, it’s a positive for …
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31 October
Western Union’s Paysend Deal And Other Digital Transactions News briefs from 10/31/23
The Western Union Co. announced customers will be able to send money via the company’s digital service directly to Visa and Mastercard cards through an integration with Paysend, a card-to-card payments platform. Lightspeed Commerce Inc. launched several new features including artificial intelligence-assisted menu creation, better insights into popular items, staff performance tools, …
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30 October
Eye on POS: Nayax Acquires Retail Pro; Lightspeed Expands Price Matching Globally
Two point-of-sale companies have separately taken steps to boost their competitiveness, one with an acquisition and the other in a marketing expansion. Payments platform Nayax Ltd. says it will acquire Folsom, Calif.-based Retail Pro International in a $36.5-million deal. Expected to close in the fourth quarter, the deal will expand …
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30 October
Virgin Atlantic Taps Elavon And Other Digital Transactions News briefs from 10/30/23
Payments processor Elavon announced its global acquiring multi-currency conversion services will support transactions for the airline Virgin Atlantic. Elavon, a unit of U.S. Bancorp, says it serves more than 100 airlines among its client base. Canadian banking giant BMO said it will begin offering Visa Inc.’s Installments payments service next year. Visa launched Installments …
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27 October
Worldline is Partly to Blame for Its Stock’s Sudden Collapse
Like a thunderclap, on Oct. 25 the stock price of continental Europe’s biggest payment processor, Worldline, plummeted 59%. It’s down a whopping 88% from its high in April 2021. Macroeconomic conditions are to blame, but so are Worldline-specific factors. The reign of easy money is over. Easy money inflates valuations. …
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27 October
European Processors Take Stock Hit And Other Digital Transactions News briefs from 10/27/23
European transaction processors are getting hammered by slowing economies and increased regulatory scrutiny. Shares in the big French processor Worldline slid 59% on Wednesday, followed by a feeble recovery Thursday. AppTech Payments Corp. announced it has closed on its acquisition of Alliance Partners LLC. The deal brings to AppTech FinZeo, Alliance’s money-movement software …
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26 October
The Fed’s Debit Card Interchange Proposal Isn’t Pleasing Merchants Or Issuers
The Federal Reserve Board’s proposal Wednesday to make a 31% reduction in the main component of its debit card interchange ceiling for large issuers touches on a longstanding sore point among merchants and has already sparked a spirited debate in the payments industry. Merchant groups, long riled by debit card …
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26 October
Mastercard Revenue up 12% And Other Digital Transactions News briefs from 10/26/23
Mastercard Inc. posted strong third-quarter results of $6.5 billion in revenue, up 12% from $5.8 billion in the 2022 third quarter. The card giant’s net income of $3.2 billion increased 28% from $2.5 billion in the year-ago quarter. Mastercard cited cross-border payment volume growth of 21% in the quarter as one …
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25 October
Don’t Expect a ‘Here Lies Interchange’ Epitaph Any Time Soon
With potential regulation of credit card interchange looming and with the unwavering demand from merchants for lower card-acceptance costs, the possibility that interchange as it’s known today may dramatically change can’t be entirely dismissed—but don’t count on its demise. That was the conclusion at the Money 20/20 trade show this …
