Digital Transactions Authoritative, insightful and timely information for payments professionals
With proposals aimed at controlling merchants’ costs for accepting credit cards having re-emerged in Congress, research has been emerging on both sides of the issue this summer as advocates for sellers and card issuers compete to influence any eventual legislation. The latest thrust appeared Monday with a research report arguing …
July, 2023
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10 July
$16 Trillion in Digital Wallet Volume by 2028 And Other Digital Transactions News briefs from 7/10/23
Services such as buy now, pay later loans and personal financial management will help drive the global volume of digital-wallet transactions to $16 trillion in 2028, up 77% from $9 trillion this year, according to a report from Juniper Research. Katapult Holdings Inc. said more than 20 merchants are now available on …
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7 July
FIS Gets FedNow Certified; MX Partners With Open Banking Specialist Moneyhub
FIS Inc. is the latest processor to be certified for the Federal Reserve’s FedNow real-time payments network, which is scheduled to launch later this month. FIS, which announced yesterday it is selling a sell a 55% interest in its merchant-processing business, joins a growing list of certified FedNow participants, including ACI …
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7 July
PayRange Finds its Spot in the Campground and RV Market And Other Digital Transactions News briefs from 7/7/23
PayRange Inc., a provider of mobile payments for unattended markets, has extended its reach into the campground and RV parks market. Payments-technology provider NovoPayment released Orchestra 2.0, a payments-orchestration layer aimed at financial institutions. Paybotic Financial, a payments platform specializing in the cannabis industry, said it has joined the Emerging Market Coalition, a nonprofit …
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6 July
Merchant Lynx Acquires National Credit Card Processing; 365 Retail Markets, First American Launch Terminals
Merchant Lynx Services has acquired National Credit Card Processing Group, a provider of B2B payment solutions, for an undisclosed sum. National Card Processing specializes in payment acceptance for the construction and heavy-duty trucking parts and repairs, concrete ready mix, asphalt and aggregate supply, and highway civil construction industries. The acquisition …
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6 July
FIS Makes It Official: It’s Selling a 55% Worldpay Stake to GTCR at an $18.5 Billion Valuation
In a fleeting 10-minute conference call, FIS Inc. announced early Thursday a move to sell a 55% interest in its merchant-processing business, which principally consists of the Worldpay unit it acquired four years ago, to the private-equity firm GTCR. The deal is expected to close by the end of the …
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6 July
Sabre Acquires Gift Card Platform And Other Digital Transactions News briefs from 7/6/23
Travel-technology provider Sabre Corp. announced it has acquired Techsembly, a gift card and e-commerce platform for hotels. The U.S. Payments Forum published a white paper outlining the impact of the Federal Reserve’s clarification that debit card issuers must enable a choice of two unaffiliated networks for all transactions, including card-not-present payments. The clarification took effect …
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5 July
Digital Gift Cards Are Poised to Become a $1 Trillion Market by 2032
The global digital gift card market is projected to reach $1.2 trillion in 2032, up from $310.1 billion in 2022, according to a report from market research firm Custom Market Insights. In 2023, CMI projects sales of digital gift cards will total $399 billion, a more than 28% year over …
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5 July
FIS Is Reportedly Working to Sell a Majority Stake in Its Merchant Unit to GTCR
FIS Inc. is talking to the private-equity firm GTCR LLC about taking a majority stake in the Jacksonville, Fla.-based company’s merchant-processing business, according to a report late Monday from Reuters. The report indicates the talks are “advanced” and value the stake at between $15 billion and $20 billion. The latest …
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5 July
Apple Renews App Store Payments Appeal And Other Digital Transactions News briefs from 7/5/23
Apple Inc. said it will file a renewed appeal with the U.S. Supreme Court regarding a 2021 case that invalidated Apple’s requirement that App Store businesses accept payments only through Apple’s platform. Keys App Inc., a platform provider for locksmiths, launched its Keys App to enable digital payments for services and …
