Digital Transactions Authoritative, insightful and timely information for payments professionals
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 …
June, 2023
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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 …
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19 June
Following the U.S., ACI Launches Real Time Payments in Europe And the U.K.
ACI Worldwide Inc. has launched its Instant Pay real-time payment solution in Europe and the United Kingdom. The move comes against the backdrop of a regulatory push in Europe mandating that financial institutions across the Single Euro Payments Area (SEPA) countries in Europe offer instant payments under the SEPA Instant …
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19 June
A No-Contract Smart POS Terminal from Helcim Debuts
Helcim Inc., a Calgary, Alberta-based payments provider, launched its Helcim Smart Terminal, which it says carries no contract or monthly fees. The device, which uses the Android operating system, is priced at $349 (C$429) and will be available this summer. Among its technical capabilities is a built-in printer, a large …
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16 June
Senators Cramer And Menendez Take Aim Again At Protecting Cash Purchases
For decades, payments providers have sought to displace cash by attempting to move merchants toward card-based and digital payments, arguing that they are faster, more convenient, and more secure to accept than cash. Now they are finding that proponents of cash acceptance are pushing back. Late Thursday, legislation was reintroduced …
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16 June
Cash App And Venmo Operators Have Two Weeks To Answer Senators’ Scam Queries
Cash App and Venmo, peer-to-peer payment services from Block Inc. and PayPal Holdings Inc., respectively, are under scrutiny from four U.S. senators over their fraud-protection efforts. In letters dated June 15 and sent to each company, the senators requested data on the volume of fraud reports the networks have received …
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16 June
These Methods Boost Conversion Rates And Other Digital Transactions News briefs from 6/16/23
Online merchants that offer so-called accelerated payment methods such as Meta Pay, Amazon Pay, PayPal, Shop Pay, Apple Pay, and Google Pay potentially raise conversion rates by up to 50%. That’s according to “Leading Online Shoppers to the Finish Line,” a study of more than 220,000 e-commerce sites by Shopify …
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15 June
Relay Payments’ Rollout for Pilot Aims to Help Fleets Combat Fraud
Relay Payments, an Atlanta-based fintech, is rolling out its digital diesel-payment platform at more than 800 Pilot Travel Centers LLC locations. Pilot, which is owned by investment firm Berkshire Hathaway Inc. and Pilot Corp., operates a chain of truck stops across the United States and Canada. In addition to its …
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15 June
Luxury Retailer LVMH Adopts Tap to Pay on iPhone
A handful of U.S. retail outlets owned by luxury-goods retailer LVMH Group will offer Tap to Pay on iPhone later this year, the Paris-based company announced Wednesday. Tap to Pay on iPhone enables merchants to accept contactless payments using a payment-acceptance app and an off-the-shelf iPhone. The service, announced in …
