Digital Transactions Authoritative, insightful and timely information for payments professionals
IHG Hotels & Resorts, with close to 4,000 properties, will use FreedomPay Inc.’s payment technology, the payments provider said. Meanwhile, Helcim launched its Helcim Fee Saver surcharge program. Philadelphia-based FreedomPay says its FreedomPay Commerce Platform will provide the payments functionality for multiple IHG brands, including InterContinental Hotels & Resorts, Kimpton, …
June, 2023
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26 June
$362 Billion in Online Fraud Loss And Other Digital Transactions News briefs from 6/26/23
Merchant losses from online payment fraud globally will total more than $362 billion in the years from 2023 to 2028, according to a forecast from Juniper Research. So-called swipe fees on credit card transactions will increase Fourth of July costs for U.S. consumers by more than $500 million, according to the Merchants Payments …
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23 June
Sezzle Pay Anywhere Debuts To Broaden Sezzle’s BNPL Acceptance
As buy now, pay later use continues to grow—U.S. volume could reach $6.5 billion by 2027, one report says—provider Sezzle Inc. is taking a step it says will ensure consumers can use its installment payment service where they like to shop. It launched Sezzle Pay Anywhere, a subscription-based service that …
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23 June
Secure Technology Alliance Marks 30 Years And Other Digital Transactions News briefs from 6/23/23
JPMorgan Chase has extended its JPM Coin, a blockchain-based settlement token launched in 2019, to euro-denominated payments. More than $300 billion has been processed on the coin since its inception. Transact Campus, a payments provider specializing in colleges and universities, announced it has reached the 1-million mark for number of student mobile …
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22 June
Eye on Acquiring: Fortis Expands Into Canada and Acquires SmartPay; FreedomPay Adds Visa Network Tokenization
It’s been a busy June for Fortis Payment Systems LLC. The payment facilitator and independent sales organization announced Thursday it is moving into Canada, has acquired payments provider SmartPay, and has added new funding and settlement capabilities. Also Thursday, merchant processor FreedomPay Inc. said it is integrating Visa Inc.’s tokenization …
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22 June
The NFC Forum Looks to Widen the Range for Contactless Payments
A significantly longer range for contactless transactions could be a reality in the market within the next two to five years, according to news released this week by the NFC Forum, the standards body for near-field communication technology. The current standard for contactless payments is five millimeters, or about one-fifth …
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22 June
Plaid Beacon Debuts And Other Digital Transactions News briefs from 6/22/23
Open banking specialist Plaid launched Plaid Beacon, an anti-fraud network for fintechs and financial institutions. The fintech Karma Wallet has allied with card-issuing platform Marqeta Inc. to introduce a prepaid card offering cash-back rewards from merchants said to be local, ethical, and sustainable. PayEm, a spend-management platform, has integrated with American Express to allow …
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21 June
Tyfone Readies for FedNow And Other Digital Transactions News briefs from 6/21/23
Digital-banking platform Tyfone Inc. said it will work with One Credit Union to offer a real-time payment service certified for FedNow, the national real-time payments system that the Federal Reserve is expected to launch next month. Jane Technologies Inc. introduced a point-of-sale system customized for cannabis stores. Smart Pay has launched its Smart Pay …
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20 June
Jack Henry Launches Fraud Detection in Real Time for a Range of Payments
Jack Henry & Associates has launched PayrailzFraud Monitor, a real-time fraud-monitoring technology for payments. The cloud-native solution, which Jack Henry describes as an enhancement to its Payrailz platform, uses artificial intelligence, machine learning, and behavioral analytics to detect payments fraud as the fraud is occurring, with a scope including peer-to-peer and …
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20 June
KKR in PayPal BNPL Buy up And Other Digital Transactions News briefs from 6/20/23
The global investment firm KKR has agreed to purchase up to 40 billion euros ($43.7 billion) in loan receivables generated by PayPal Holdings Inc. in its buy now, pay later programs in France, Germany, Italy, Spain, and the United Kingdom. The transaction is said to include “substantially” all of the European BNPL loan portfolio …
